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ENNIO LEANZA
Swiss retail felt the effects of the corona pandemic this year. Sales in the stationary business fell. Meanwhile, online purchases experienced a significant increase. And Black Friday should give internet retailers even more boost.
Yet more than four-fifths of Internet customers buy their products, at least partially, on credit, as Comparis writes in a report published Thursday. The reason for this is the payment methods commonly used in online retail. Customers usually buy with a credit card or on account.
With both types of payment, the amount will only be paid with a certain delay or it will be debited from the customer’s account. Installment payments are also often possible. In comparison, physical store consumers typically pay with cash or debit cards, where the amount is charged directly from the account.
70 percent purchase on account
If you look at the specific figures, according to a survey by Comparis, about 70 percent of customers buy on behalf of online specialty retailer Brack.ch. About 50 percent of Migros.ch also chose this payment method, and 33 percent of the retailer Digitec / Galaxus, which belongs to the Migros Group, chose this payment method. In the latter case, the proportion of bill payments has also increased further in the current Corona year. Another 40 percent also paid for their purchases online with their credit cards.
When shopping online, paying by credit card at the lowest rates carries the risk of financial problems, quotes Max Klemenz, co-director of the canton of Zurich debt advisory in the report. “Installment payments result in high interest on debt, which is often greatly underestimated in the long run.”
Therefore, the move towards more online shopping is not without risks. “Many people get leeway on their accounts by deferring payment. In the current situation, however, this can be a problem, especially with higher quantities, ”says Comparis expert Michael Kuhn.
Kuhn cautions that caution should be exercised, especially in the current Corona crisis. Because if you lose your income due to short-term work or unemployment, you will face a financial bottleneck. Uninhibited Black Friday shopping could be problematic, especially for people with lower incomes. (SDA)
November 27 is here again: Black Friday, the most important shopping day of the year, attracts with unbeatable discounts and bargains in the areas of entertainment electronics, fashion, kitchenware, furniture and much more.
So that you don’t miss out on the chance to get the best deals, you will find an overview of the offers and discount campaigns in Swiss online retail from 23 November on BLICK.
