Swiss businesses losing billions due to Temu and Shein

Swiss businesses are losing billions of francs a year as a result of the spread of Chinese online platforms Temu and Shein, says the director of the federation of Swiss retailers. Bernhard Egger, director of Handelsverband.swiss, was speaking at the Retail Forum in Zurich on Friday. He estimated that the turnover being siphoned off by Chinese competitors to be roughly CHF1 billion ($1.14 billion). "If you then consider that the equivalent value is often higher, it comes to CHF3 billion that Swiss retailers are losing," Egger said. +Get the most important news from Switzerland in your inbox In his view, low-cost competition, especially from China, poses a real threat to Swiss stores, but especially to those that are themselves in the low-price segment. "For companies active in higher price segments, with better quality, such suppliers are less of a competition," he said. Egger predicted growth for Swiss online commerce in the coming year and points to the roughly 10% expansion ...