Whether you love it or hate it, Black Friday is here to stay, with people across the world rushing to the shops to get a bargain. Now, new data from the Boston Consulting Group has suggested that people in Switzerland will spend the most in the world during the event in 2024.

People in Switzerland planning to spend big this Black Friday

According to the study, which surveyed 10.000 in nine countries around the world, people in Switzerland are set to spend 455 francs on Black Friday sales in 2024, the most in the world and around a third more than in 2023. The alpine nation was followed by shoppers in the United Kingdom (419 francs), the United States (405 francs) and Germany (331 francs).

The study explained that after the financially fraught years of 2022 and 2023, which saw inflation and rising costs for energy, consumers now feel comfortable splashing the francs. This year, clothing and electronic goods are the most sought-after items during the sales in Switzerland. Compared to other nations, people across the cantons are more likely to spend their hard-earned salary on luxury and blowout purchases.

Swiss shoppers most likely to buy personal items over gifts

Popularised in America in the 1980s, the Friday after US Thanksgiving is now synonymous with supermarkets, retailers and other stores selling at a discount in the lead-up to Christmas. Ominously for consumers, the name Black Friday comes from the idea that companies have gone from making a loss (in the red) to making a profit (in the black). The first Black Friday sale in Switzerland was launched by department store Manor in 2015, with most companies following suit a year later.

Interestingly, people in Switzerland are the least likely to use the days to prepare for Christmas, with only 21 percent of those surveyed expecting to buy just gifts. 31 percent said they were going to buy a mix of presents and personal items, while 39 percent expected to reserve the day for an indulgent shop for themselves.

35 percent of people in Switzerland planning to forgo Black Friday

While people in Switzerland plan to spend big, they are also the most likely to forgo Black Friday entirely. Only 65 percent plan to spend on the day and its sister event Cyber Monday, the joint lowest rate alongside Australia.

However, those who are hoping that this latest wave of Americanisation will retreat with the tide are in for a disappointment. In Switzerland, only 1 percent of those surveyed had never heard of Black Friday.

Thumb image credit: Paulm1993 / Shutterstock.com