Israeli Spending Surges in September Driven by Holidays and Online Shopping
Translated & summarized from Al-Shams by baba
Israeli consumers spent approximately 53 billion shekels in September, a rise driven by holiday spending and a 5.5% increase in online purchases. Average daily spending exceeded 1.7 billion shekels for the fourth month, with significant boosts in entertainment, travel, and dining. While physical store spending saw a slight increase year-over-year, cash withdrawals and daily spending in brick-and-mortar locations declined.
The story in 5 lines · by baba
- Israeli spending reached 53 billion shekels in September, up from previous months.
- Holiday spending fueled increases in entertainment, travel, hotels, and dining.
- Online purchases rose 5.5% to 30.96 billion shekels, exceeding 1 billion daily.
- Spending in physical stores saw a 7.2% annual increase despite a daily decline.
- Cash withdrawals from ATMs decreased by 1.8% in September.
Israeli consumers spent approximately 53 billion shekels in September, marking a significant increase driven by holiday spending and a surge in online purchases. Data from Sheba, the company managing card payment systems, revealed that the average daily spending in September exceeded 1.7 billion shekels, the fourth consecutive month to surpass this figure. This trend saw a 1.7% rise in average daily spending compared to August.
The Hebrew holidays observed in September significantly boosted expenditures on leisure, travel, and accommodation. Spending on entertainment and amusement rose by 17.8% to 319.2 million shekels. Hotels and accommodations saw a 17.6% increase, reaching 1.17 billion shekels, up from 998 million the previous year. Restaurants, cafes, and fast-food outlets experienced an 11% rise in spending, totaling 3.64 billion shekels, compared to 3.28 billion previously. Travel agencies also benefited, with spending climbing 10.1% to 1.13 billion shekels.
Online purchases were a major growth driver, accounting for 30.96 billion shekels, a 5.5% increase. The average daily online spending surpassed 1 billion shekels for the first time. In contrast, average daily spending in physical stores decreased by 2% from August to 743 million shekels, although total monthly spending in these stores rose by 7.2% compared to September of the previous year. Cash withdrawals from ATMs also declined by 1.8% to 5.61 billion shekels.
Sheba noted that these figures represent the financial value of spending and do not necessarily indicate a proportional increase in the quantity of goods and services purchased, due to price fluctuations.
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