Israeli Consumers Boost Spending in Fashion, Food, and Jewelry Ahead of Holidays

Israeli consumers demonstrated a strong last-minute shopping trend for the Rosh Hashanah holiday, with significant spending increases observed across various retail sectors, according to data from the Phoenix Gama index, which tracks credit card activity and consumer behavior. A surge in spending and activity was recorded on the Thursday before the holiday, with high activity continuing in malls and shopping centers on Friday, particularly in food and fashion.

The fashion sector saw the largest increase among regularly surveyed sectors, with purchase volumes rising 18% compared to the previous week. Physical store credit card spending in fashion increased by 21%, contrasting with a 2% online decrease, aligning with the late-rush shopping pattern. The food sector also experienced a notable rise, with purchase volumes up approximately 14%, driven by a 6% increase in transaction numbers and a 9% rise in average transaction value. The Jerusalem and Central regions saw the most significant growth in holiday food purchases.

Among seasonal sectors, nurseries experienced the sharpest increase in purchase volumes, up 82% with an average transaction of 200 shekels. The jewelry sector saw a 69% rise in purchase volumes, largely due to a 54% increase in credit card transactions, with an average transaction value of 1,375 shekels. Gift and home decor sectors reported a 27% increase in purchase volumes, attributed to a rise in the number of transactions, while cosmetics saw a 17% increase.

In contrast to previous years, the electronics and appliances sector experienced a decline in purchase volumes during the week of Rosh Hashanah. Phoenix Gama suggested that the proximity of the holidays to the end of the summer vacation may have reduced consumers' available time for planning such purchases. This sector saw an 8% decrease compared to the same period last year and a 5% decrease from the previous week.

Nadav Lachmani, CEO of Control at Phoenix Gama, summarized the trend, noting the clear entry into a holiday atmosphere with sharp increases in fashion, food, jewelry, cosmetics, nurseries, and home goods, following consumers delaying holiday preparations until the last minute due to the end of the summer break.