The Swiss franc's increased strength against the euro has proven to be a massive boon for those shopping for groceries.
Switzerland's second-largest retailer, Coop Cooperative, said that it has cut the prices of more than 200 types of fruit and vegetables, and that similar measures are in the pipeline for cheese, fish and poultry.
"We contacted our suppliers [...] and asked that price discounts be passed on to us so we can pass them on to our customers," Denise Stadler, a Coop spokeswoman, was quoted as saying in the Wall Street Journal.
Importers have been purchasing greater numbers of Spanish oranges, German beer and Italian tomatoes for each franc spent. Exporters face a more problematic situation, as they fear they may become less competitive in the EU.
The purchasing capacity of Swiss consumers has dramatically increased following the decision of its central bank to discontinue the currency limit of 1.2 francs to the euro, which had been in place for over three years.
Swiss shoppers are also using their currency's strength for their advantage in Germany. Basler Verkehrs-Betriebe, Basel's transport department, has had to add more trams running to the border town Weil am Rhein to accommodate the deluge of Basel-based shoppers.
© 2014 European Supermarket Magazine – your source for the latest retail news. Article written by Peter Donnelly.
