COVID-19 and regional shifts in Swiss retail payments

This paper analyzes card payments to the retail sector in Switzerland during the COVID-19 crisis. We provide evidence on aggregate effects and regional shifts. Pronounced shifts—which persisted post-lockdown—can be observed from urban to suburban and rural areas and among cantons. Data allow us to i...

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Detalles Bibliográficos
Autores principales: Kraenzlin, Sébastien, Meyer, Christoph, Nellen, Thomas
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Springer International Publishing 2020
Materias:
Original Article
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8091136/
https://www.ncbi.nlm.nih.gov/pubmed/33968810
http://dx.doi.org/10.1186/s41937-020-00061-x
Descripción
Sumario:This paper analyzes card payments to the retail sector in Switzerland during the COVID-19 crisis. We provide evidence on aggregate effects and regional shifts. Pronounced shifts—which persisted post-lockdown—can be observed from urban to suburban and rural areas and among cantons. Data allow us to identify directly two sources of shifts: “tourists and business travelers” and “e-commerce.” We indirectly identify additional sources: infection risk, lockdown measures, working from home, shopping tourism, and cash substitution. The COVID-19 crisis seems to have reinforced pre-existing trends that may have faster than anticipated effects on the economy. Our analysis underscores the usefulness of real-time card payment data to inform policymakers.

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