eCommerce market in Switzerland

Switzerland is the 24th largest market for eCommerce with a predicted revenue of US$16,747.7 million by 2024, placing it ahead of Malaysia. Revenue is expected to show a compound annual growth rate (CAGR 2024-2028) of 4.3%, resulting in a projected market volume of US$19,795.7 million by 2028. With an expected increase of 5.6% in 2024, the Swiss eCommerce market contributed to the worldwide growth rate of 10.1% in 2024. Like in Switzerland, global eCommerce sales are expected to increase over the next years. Seven markets are considered by ECDB within the Swiss eCommerce market. Electronics is the largest market and accounts for 27.1% of the Swiss eCommerce revenue. It is followed by Fashion with 24.5%, Hobby & Leisure with 14.9%, Grocery with 13.8%, Furniture & Homeware with 9.2%, Care Products with 7.1%, and DIY with the remaining 3.4%.

The online share refers to the proportion of the retail volume that is transacted via the Internet. It includes purchases via desktop PC, tablet or smartphone, both via website or app. Only retail of physical goods is taken into account. In the Swiss retail market, the online share is 14.0% and will increase by an average of 8.1% to 19.1% by 2028.

The biggest player in the Swiss eCommerce market is galaxus.ch. The store had a revenue of US$1,024.1 million in 2023. Store rankings include every store that generates revenue in Switzerland. These stores can either have a national focus and only sell in their main country or operate on a global scale. For this evaluation, only revenue created in Switzerland was considered.

The Swiss eCommerce market in 2023 in terms of offered payment methods is fragmented and dominated by a few providers with VISA (Cards) covering the largest share with 95.4% of all online stores checked. Other offered payment methods in the Swiss eCommerce market in 2023 are Mastercard (Cards) with 95.4%, PayPal (E-wallets) with 74.2%, and Bank transfer/cash in advance (Bank transfer) with 52.8%. With 47.8% Invoice (unknown) has already a significantly smaller coverage compared to VISA (Cards).

Despite Schweizerische Post's dominant position with 42.3% of online stores opting for its services, the Swiss eCommerce market in 2023 remains diverse and competitive. Several other shipping service providers, including Die Post, DPD, DHL, and UPS (United Parcel Service), hold smaller but significant shares, contributing to a dynamic and fragmented market.

In the Swiss eCommerce market, there is intense competition among various shop software solutions, leading to a highly fragmented landscape in 2023. None of the major shop software solution, including Magento, Shopware, and Shopify, have been able to secure a market share exceeding 13.4%, suggesting a diversified market with numerous players holding smaller stakes.