Israeli Consumer Spending Rises on Credit Despite Holiday Travel
Translated & summarized from Calcalist by baba
Israeli consumers spent over 1.2 billion shekels on credit for Rosh Hashanah shopping, a 3% increase from last year, despite more people traveling abroad. The rise may reflect increased prices.
The story in 5 lines · by baba
- Consumer spending on credit for Rosh Hashanah reached 1.2 billion shekels.
- Spending increased by 3% compared to last year.
- Higher spending occurred despite more Israelis traveling abroad.
- Price increases may have contributed to the rise in spending.
- Peak spending occurred at 11:52 AM with 3.91 million shekels transacted.
Israeli consumers spent over 1.2 billion shekels on holiday shopping on the eve of Rosh Hashanah, marking a slight 3% increase compared to the previous year, according to data from Sheba, the credit card payment system operator. This rise occurred despite a larger number of Israelis traveling abroad for the holiday, suggesting that price increases may be a contributing factor.
Between 8:00 AM and 3:00 PM on Friday, credit card transactions reached 1.2 billion shekels, up from 1.1 billion shekels during the same period last year. For comparison, in 2022, spending during these hours was 1.075 billion shekels, and in 2023, before the outbreak of the Swords of Iron War, it was 956 million shekels.
Sheba reported that the peak spending minute occurred at 11:52 AM, with over 3.91 million shekels spent and more than 21,800 transactions processed in that single minute.
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