Israelis Boost Holiday Spending 10% With Focus on Travel and Electronics

Israeli consumers significantly increased their spending on credit cards leading up to Rosh Hashanah this year, with overall expenditures rising by 10.3% compared to the previous year's holiday eve. On the day of the holiday, Israelis spent a total of 1.462 billion shekels, an increase of 137 million shekels from Rosh Hashanah last year. Data from Shva, a credit card clearinghouse, revealed that the busiest hour for spending was between 12:00 PM and 1:00 PM on the day before the holiday, when 197.1 million shekels were spent.

Interestingly, the surge in spending was not primarily driven by traditional holiday food purchases. In the week preceding Rosh Hashanah, grocery store spending saw a modest increase of only 2.3%. Similarly, expenditures on restaurants, cafes, and fast food rose by a moderate 3.4%, and specialty food stores, butchers, and bakeries experienced a 2.3% increase.

Instead, significant spending growth was observed in other sectors. Travel agencies reported a substantial 27.8% jump in expenditures. Spending on hotels and accommodations increased by 5.3%, while the electrical and electronics sector saw a 9.7% rise. The pharmaceutical sector also experienced an 8% increase in spending, and clothing and footwear purchases grew by 4%.

These figures indicate a shift in consumer priorities for the holiday period. While food and traditional holiday items remain important, a notable portion of the increased spending was directed towards non-food categories such as tourism, electronics, pharmaceuticals, and apparel, suggesting a broader definition of holiday preparations for many Israelis.