Israelis Cut Back on Purchases Amidst Rising Cost of Living
Translated & summarized from Maariv by baba
Nearly half of Israelis plan to reduce purchases due to the high cost of living, according to a new survey released before the "Shopping IL" event. The study also found that 62% of Israelis consider the product's country of origin, and 39% believe the current $75 VAT exemption limit hinders spending. The "Shopping IL" event includes 3,000 businesses, with 3% facing closure.
The story in 5 lines · by baba
- 48% of Israelis will reduce purchases due to high cost of living, a survey found.
- 62% of Israelis consider a product's country of origin when buying.
- 39% of Israelis want the VAT exemption limit raised from $75 to $150.
- 3% of businesses participating in "Shopping IL" are at risk of closing.
- Google's "Shopping IL" event begins, featuring 3,000 businesses.
As Google's "Shopping IL" event kicks off, marking the start of a global online shopping month that includes "Singles' Day," "Black Friday," and "Cyber Monday," a new survey reveals that nearly half of Israelis are expected to reduce their purchases due to the high cost of living. The survey, conducted by the Histadrut Consumer Authority and Geocartography Institute, found that 48% of Israelis anticipate skipping some purchases, while 44% stated they can only afford a portion of the products they desire due to their economic situation.
Furthermore, the origin country of a product significantly influences purchasing decisions for 62% of respondents. A substantial 39% believe that maintaining the current VAT exemption ceiling of $75 will prevent them from increasing their spending, with a majority advocating for raising this ceiling to $150.
The "Shopping IL" event features 3,000 businesses, with nearly half being small businesses employing fewer than five people. Alarmingly, 3% of participating businesses are reportedly on the verge of closure and are struggling for survival.
In light of these findings, the Histadrut is urging consumers to compare prices, scrutinize shipping costs, and review return policies before making purchases, rather than relying solely on advertised discounts. They emphasize that informed consumerism, starting with preliminary checks, can save hundreds of shekels even during sale periods.
