Israelis Spent Billions on Election Day, Favoring Physical Stores
Translated & summarized from Ice by baba
Israelis spent over 1.141 billion shekels on Election Day, marking a significant increase from previous elections and a preference for physical stores. The peak spending minute saw 3.61 million shekels transacted. Food and fashion were the leading sectors, while online sales declined sharply in favor of in-person shopping. Shopping mall traffic also saw considerable growth.
The story in 5 lines · by baba
- Israelis spent over 1.141 billion shekels on Election Day, a 41.2% increase from 2022.
- The busiest minute saw 3.61 million shekels spent in over 15,500 transactions.
- Food and beverages accounted for 50% of Election Day spending, followed by fashion at 22%.
- Physical stores saw 66% of transactions, while online sales dropped by 44%.
- Shopping mall traffic increased significantly, with some locations tripling visitor numbers.
Israelis embraced a significant shopping spree on Election Day for the 26th Knesset, transforming the national holiday into a major consumer event. Hundreds of thousands of citizens utilized the day off to engage in extensive shopping at commercial centers and retail chains across the country. Data from credit card, clearing, and fintech companies indicated a robust spending surge, with a notable preference for family outings and in-person shopping over online channels.
According to Shva, which manages the national payment system, over 1.141 billion shekels were spent on debit cards between 8:00 AM and 5:00 PM. This represents a substantial 41.2% increase compared to the same period during the 2022 elections and a 12.9% rise from municipal elections. The peak spending moment occurred at 12:40 PM, when Israelis transacted approximately 3.61 million shekels in just one minute across over 15,500 transactions, a pace typically seen on busy holiday eves.
Food and beverage purchases led the day, accounting for about 50% of total spending, with an average transaction of 167 shekels. The fashion and footwear sector followed, capturing 22% of expenditures and experiencing a remarkable 103% surge in sales turnover. Leisure and entertainment represented 14% of spending, while electronics constituted 10%.
Analysis from Israel Credit Cards (ICC) and Hyp corroborated these trends, showing significant increases in fashion and culinary sector transactions. However, the surge in in-person shopping led to a sharp decline of 15% to 49% in food delivery orders. Data from the Wolt delivery platform revealed that even food orders were increasingly made for outdoor locations rather than homes or offices.
Physical stores overwhelmingly outperformed online channels, with approximately 66% of all Election Day transactions occurring in brick-and-mortar locations, compared to 34% online. This preference was evident across various sectors, including electronics, where front-end transactions surged significantly while online sales dropped. Shopping mall traffic also saw substantial increases, with some malls reporting triple the usual visitor numbers, boosted by organized children's activities.
