Israelis Spend Big on Election Day, Credit Card Spending Surges
Translated & summarized from Calcalist by baba
Israeli credit card spending surged by 26.5% on election day morning, reaching NIS 250.78 million. This increase was most pronounced in the fashion sector, which saw a 198% rise in transactions. While restaurants also saw more activity, food delivery services experienced a sharp decline. The peak spending minute occurred at 10:57 AM.
The story in 5 lines · by baba
- Israeli credit card spending on election day morning rose 26.5% to NIS 250.78 million.
- The fashion sector saw a 198% increase in transactions on election day.
- Restaurant transactions rose 10%, with average spending up 50%.
- Food delivery services saw a 78% decrease in transactions.
- Peak spending occurred at 10:57 AM with over 11,300 transactions.
Israeli consumers significantly increased their credit card spending on the morning of the 26th Knesset elections. Data from Shva, the national payment system operator, revealed that between 8:00 AM and 11:00 AM, expenditures reached NIS 250.78 million. This represents a 26.5% increase compared to the 25th Knesset elections on November 1, 2022, when spending in the same hours was NIS 198.31 million. The current figures also show a 10.6% rise from the local elections on January 30, 2024, which saw NIS 226.81 million spent during those hours. The peak spending minute occurred at 10:57 AM, with NIS 2.39 million spent across over 11,300 transactions. Additional data from fintech company Hyp indicated a 13% increase in the number of transactions nationwide by 10:00 AM, compared to the same time last Tuesday. The fashion sector saw the largest surge, with a 198% jump in transaction volume. The average transaction amount in fashion also rose by approximately 17%, from NIS 278.98 to NIS 326.64. Restaurant transactions increased by 10%, with the average amount spent climbing 50% from NIS 50 to NIS 75. Conversely, food delivery services experienced a significant drop of 78% in transaction numbers.
