MignewsEconomy16:14

Israelis Spend 37.5% More on Election Day Compared to 2022 Vote

Translated & summarized from Mignews by baba

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Israelis spent 731.3 million shekels on election day, a 37.5% increase compared to the 2022 parliamentary elections, according to SHVA data. Consumer activity peaked at 12:40 PM with over 15,500 transactions in one minute. Spending on clothing and footwear saw a 93% surge, while food and beverages increased by 36%. The overall rise indicates a strong boost for retail on the public holiday.

The story in 5 lines · by baba

Israeli consumer spending on election day surged 37.5% compared to the 2022 parliamentary elections.
Over 731 million shekels were spent between 8 AM and 2 PM on election day.
Peak spending occurred at 12:40 PM with 15,500 transactions in one minute.
Clothing and footwear sales increased by 93% compared to the previous Tuesday.
Food and beverage purchases rose 36%, making up 53% of total election day spending.

Israelis demonstrated a significant increase in consumer spending on election day, with purchases rising by 37.5% compared to the same period during the 2022 parliamentary elections. Data from SHVA, the national card payment system, revealed that between 8:00 AM and 2:00 PM, Israelis spent 731.3 million shekels. This figure surpasses the 531.81 million shekels spent during the same hours on November 1, 2022. The current spending also exceeded that of the recent municipal elections on January 30, 2024, by 5.1%, when 696.11 million shekels were spent.

The peak of consumer activity occurred at 12:40 PM, with over 15,500 transactions totaling 3.61 million shekels in a single minute. Spending accelerated throughout the morning; the increase over 2022 levels grew from 26.5% by 11:00 AM to 37.5% by 2:00 PM.

Notable growth was observed in the clothing and footwear sector, with spending up 93% by 1:00 PM compared to the previous Tuesday, according to credit company Max. The number of cards used for these purchases increased by 85%, indicating a substantial rise in shopper numbers. Food and beverage purchases rose by 36%, accounting for 53% of total spending, with a 12% increase in transaction volume compared to the prior Tuesday. Clothing and footwear represented approximately 18% of all transactions.