The number of payment delays in Switzerland is on the rise. Among younger consumers in particular, online shopping, purchase on account, and new consumption habits are increasingly leading to financial challenges. In an interview with the Swiss news portal Blick, Christian Giehler, Managing Director of coeo Switzerland, explains which trends are currently particularly noticeable.
Digitalization has fundamentally changed purchasing behavior. Products are available at any time, orders can be completed in just a few minutes, and buying on account has long been part of everyday life for many people. At the same time, it is becoming more difficult to keep track of one’s own expenses.
From coeo’s perspective, this trend is particularly evident in e-commerce. “Today, outstanding debts and financial challenges often arise not from a few large purchases, but from many small expenses. At the same time, we see that digitalization simplifies purchasing decisions, thereby lowering the barrier to spontaneous consumption,” says Giehler.
Young adults between the ages of 20 and 40 are particularly affected. Many of them shop online regularly and use flexible payment methods without consistently tracking their spending. “Many people are finding it increasingly difficult to systematically compare their income and expenses and keep track of their own budget,” Giehler notes.
In addition, financial matters often receive too little attention in everyday life.
In addition to analyzing current trends, Giehler also discusses the transformation of the debt collection industry in the interview. Modern debt collection agencies increasingly see themselves as mediators between creditors and customers. The goal is to find sustainable solutions and resolve outstanding debts as amicably as possible.
Daily practice repeatedly shows that open communication and a timely response to payment reminders can help prevent major financial problems.
The full interview with Christian Giehler appeared on Blick.ch.
