Israelis Spend Big on Election Day, Boosting Retail Sales
Translated & summarized from Now 14 by baba
Israelis significantly increased their spending on election day, with credit card data from MAX showing a 93% surge in apparel purchases and a 30% rise in leisure and entertainment. The average national expenditure per card reached 310 shekels, with physical stores preferred over online shopping. Residents of the Galilee and the Valleys spent the most on average.
The story in 5 lines · by baba
- Israeli credit card spending surged 93% in apparel on election day.
- Leisure and entertainment spending rose about 30% on election day.
- The average national credit card expenditure was 310 shekels.
- Physical stores accounted for 66% of election day transactions.
- Galilee and Valleys residents spent an average of 340 shekels.
Israelis turned the recent Knesset election day into a significant shopping spree, with credit card spending surging across various sectors, according to data released by MAX, a credit card company. The findings, reflecting spending up to 5 PM on election day, showed a sharp increase in credit card expenditures compared to a typical weekday.
The apparel and footwear sector saw the most dramatic rise, with purchase volumes jumping 93% compared to the previous Tuesday. This represents a roughly 10% increase over election day spending in 2021. The average transaction in fashion was 363 shekels, and the total turnover grew by approximately 117%.
Food and beverage purchases, which constitute about 51% of total spending, also experienced a notable increase. The average transaction in this sector rose by about 26% to 159 shekels, with turnover growing by 34% compared to a regular weekday. The leisure and entertainment sector reported a 16% increase in turnover, with an average expenditure of 222 shekels per card.
The overall national average expenditure per credit card, as of the afternoon, stood at 310 shekels. Consumer habits indicated a preference for physical stores, accounting for about 66% of transactions, while online purchases made up approximately 34%.
Regionally, residents of the Galilee and the Valleys led in spending, with an average of 340 shekels per card. Jerusalem recorded the lowest average spending among the regions, at 299 shekels per card. The data is based on an analysis of approximately 4 million MAX credit cards, with a full spending summary expected later in the evening.
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