New value-free limit for shopping tourists Migros boss: "A reduction to 50 francs would have been ideal"
Since January 1, shopping abroad has become more expensive for the Swiss due to the lowering of the value-free limit. Migros boss Mario Irminger would have liked to see even greater restrictions.
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- From January, Swiss shoppers will have to pay duty on goods worth CHF 150 or more.
- The measure is intended to support the Swiss retail trade.
- Migros Group CEO Mario Irminger would have preferred an even greater restriction to 50 francs.
Migros Group CEO Mario Ir minger would have liked to see an even greater reduction in the VAT exemption limit. "A reduction to 50 francs would have been ideal," he said in an interview with the CH Media newspapers.
The new regulation, which has been in force since January 1, 2025, lowers the exemption limit for purchases abroad from CHF 300 to CHF 150. The adjustment is a step in the right direction, explained Irminger with a view to shopping tourism.
The Migros CEO was satisfied with the business performance in 2024. According to his estimates, sales will be slightly higher than the previous year's CHF 32 billion. The operating result should also be stable or better than in 2023, when Migros reported a low profit of CHF 175 million compared to previous years due to high extraordinary write-downs. Irminger emphasized that such burdens are not to be expected this time.
Strong ties with the Swiss population
Migros continues to enjoy strong ties with the Swiss population, said Irminger. "Practically every household has a Migros connection." This goes far beyond the supermarket: households with a migration background in particular often first got to know Migros through their language courses.
Despite the shift towards online solutions and apps, the Migros Club School's language courses will not fall victim to the current austerity measures, as Irminger went on to say: "Of course, the language schools are not self-supporting. But this educational offering is one of the most important pillars of our cultural commitment."
Despite cost-cutting measures, Migros is planning major investments. Over the next five years, 350 existing supermarkets are to be modernized, as the company announced in October. In addition, 140 new supermarkets are to be opened, increasing the number of stores from 790 to 930. Migros plans to invest 2 billion Swiss francs in these new openings alone.
Difficult project
The project will not be easy, Irminger admitted in the interview. Nevertheless, he sees good chances thanks to the ten regional cooperatives and their familiarity with regional building regulations. "30 stores per year is realistic," concluded the Migros CEO.