Retail remains one of the most important economic sectors in Liechtenstein in 2018 after last year which was one of the best for this industry. According to a recent study carried out by the Ministry for Infrastructure, Economic Affairs and Sport, Liechtenstein residents are aware of their purchase habits, however they put more accent of the quality of goods now. If you are interested in setting up a retail shop in the Principality, our Liechtenstein company formation agents can advise you.
According to the study, an overwhelming number of citizens in Liechtenstein have bought impressive number of goods and services last year, increasing the consumption level and the revenues of shops. The same study indicates that a minor part of the population has reduced their spending related to purchasing day-to-day goods.
Compared to the past few years, the respondents said that they are now more aware of the prices they pay for the products they purchase, but their quality of must match the price. That means the food must fresh, the clothes must be made of quality materials and electronics must be user-friendly, while brand is less important.
The study made a comparison between how many people increased the amount of money dedicated for FMCG products in 2010 and in 2017 and the results show a 50% growth in the present.
Foreign enterprisers who want to start a FMCG company in this country can benefit from assistance from our company registration consultants in Liechtenstein.
Another thing observed in the study is the appetite of Liechtenstein citizens to do their shopping online. Nowadays, one of five individuals shop online, however the goods purchased from e-commerce sites are related to flight tickets, books, electronics. Holiday online bookings are also popular.
In the case of online shopping, respondents said they chose the stores based on the lower prices and the variety of products. Also, a small part of them buy goods from foreign online shops.
Those interested in exploring the retail industry have various niches they can choose from. For assistance in setting up this kind of venture, please contact our Liechtenstein company formation advisors.