Israel Sets Spending Record on Election Day

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Translated & summarized from Vesty by baba

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Israelis spent a record 1.752 billion shekels on bank cards during the recent Knesset election day, a 30.2% increase from the previous election in 2022. The holiday was used for extensive shopping, with significant spending in restaurants, leisure, and electronics. Physical store purchases surged by 58% while online sales dropped, except for clothing. Regional spending varied, with some areas seeing threefold increases in purchases.

The story in 6 lines · by baba

Israelis spent a record 1.752 billion shekels on bank cards during the recent Knesset election day.
Spending on election day increased by 30.2% compared to the 2022 Knesset elections.
Restaurants and cafes saw 181.365 million shekels spent, a 53.89% increase from 2022.
Physical store purchases rose by 58%, while online sales decreased by 44%.
The Sharon region saw a threefold increase in shopping activity.
Top selling items included iPhone Duo, air purifiers, and robot vacuums.

Israelis set a new spending record on election day for the 26th Knesset, spending 1.752 billion shekels via bank cards on Tuesday, October 27. This figure, released Wednesday by SHVA, the national payment system operator, represents a 30.2% increase from the previous Knesset election on November 1, 2022, when 1.346 billion shekels were spent. The new record also surpasses the previous overall spending record of 1.591 billion shekels set during municipal elections on January 30, 2024, by approximately 10%.

During the peak voting hours, from 8:00 AM to 5:00 PM, 1.149 billion shekels were transacted. The public holiday granted for the elections was utilized for shopping, dining, and family outings, with spending in most sectors significantly higher than on previous election days. Restaurants, cafes, and fast food establishments saw 181.365 million shekels spent, a 53.89% increase from 2022 elections and a 42.12% rise from the 2024 municipal elections. Leisure and entertainment spending surged by 72% to 136.6%, hotels by 15% to 142%, and electronics by 9% to 11%. Grocery stores remained the top spending category with 238.196 million shekels, though prices have increased since 2024.

Data from fintech company HYP indicated a 4.3% rise in overall transactions compared to a typical Tuesday. Clothing purchases led in growth, with a 148% increase in transaction volume and a 9.8% rise in average check size, partly due to 15-50% discounts. Restaurants experienced a 44.2% increase in transactions and a 47.5% rise in average check, while food delivery orders decreased by 15.3%, attributed to people spending the holiday outside their homes.

Analysis by Adar Goren, Deputy CEO at "Isracard," revealed a preference for physical stores over online shopping, with a 58% increase in in-store purchases versus a 44% decline in online turnover. Clothing and footwear were the only exceptions, with online sales up 35% and in-store sales up 140%. Electronics saw online sales drop 58% while physical store purchases rose 126%.

Regional spending varied, with a 7% decrease in Eilat, a threefold increase in the Sharon region, and a 2.5-fold rise in Hadera and Kiryat. Retail chains reported a significant influx of visitors. A.L.M. electronics chain noted a 280% surge in foot traffic, with iPhone Duo, air purifiers, and robot vacuums as top sellers. Big Fashion mall saw over 10,000 visitors by noon, a 134% increase, while "Dizengoff Center" reported a threefold rise in sales and 2.5 times the usual visitor numbers by 1:00 PM. "Ofer" mall chain's CEO estimated foot traffic tripled, with sales increasing about 2.5 times, driven by 30% discounts and 1+1 promotions, particularly in Ramat Aviv, Petah Tikva, Rehovot, Haifa, and Be'er Sheva locations.

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