Election Day Shopping Sees Sales Surge, But Real Spending Declines
Translated & summarized from Maariv by baba
Israeli shopping centers saw sales surge by up to 300% on Election Day, driven by a national holiday. However, real spending declined compared to previous elections, with an 18% nominal drop and a deeper real decrease after accounting for inflation. Monthly data for October showed a 2.4% national sales increase year-over-year, with power centers outperforming regional malls. Individual mall performances varied significantly, with some reporting substantial gains while others saw sales fall.
The story in 5 lines · by baba
- Election Day shopping saw sales surges of up to 300% in Israeli malls and commercial centers.
- Despite nominal spending increases, real purchasing volume declined compared to previous elections.
- October's national sales rose 2.4% year-over-year, with power centers showing stronger growth.
- Performance varied greatly among shopping centers, with some experiencing significant sales increases and others decreases.
- Big Check Post, Ofer Center Nof HaGalil, and Rananim Mall each reported a 14% sales increase in October.
Israeli shopping malls and commercial centers experienced a significant boost in sales on Election Day, with some reporting increases of up to 300% compared to a typical day. Power centers and large open-air malls saw sales rise by approximately 160%, while regional malls experienced a 150% increase. Specific locations like Star Center in Ashdod reported a 300% surge, followed by Star Center in Nahariya with a 270% rise. Other malls, including Sha'ar HaTzafon, Big Kiryat Shmona, and Emek Center Afula, saw sales climb by around 240%, with Big Fashion Ashdod and Ofer Kiryon up by 230%.
However, when compared to previous elections, the data reveals a different picture. Despite the nominal increase in credit card spending, Israelis actually bought less in real terms. Retail analytics firm Briz noted an 18% nominal decrease in sales compared to the previous election day. Considering an 11.9% rise in the consumer price index during that period, the real decline in purchasing volume is even more pronounced.
Looking at the entire month of October, national sales across approximately 2,800 comparable stores increased by 2.4% compared to October of the previous year. Power centers led this growth with a 5.8% rise, while regional malls saw a 2.5% increase. This monthly comparison is affected by the timing of Jewish holidays. To account for this, Briz analyzed September and October data together, revealing a 1.7% national sales increase, with power centers up 3.2% and regional malls up 1.5%.
Within the shopping centers themselves, performance varied. Out of 132 centers analyzed, 88 reported sales increases, while 44 saw a decrease. Twenty centers experienced growth exceeding 10%, and 68 saw increases of up to 10%. Conversely, 39 centers had sales drop by up to 10%, with five experiencing sharper declines. Notable October performers included Big Fashion Galil (12% increase), Big Karmiel (10%), Azrieli Jerusalem (9%), and Ofer Kiryon (7%). Big Check Post, Ofer Center Nof HaGalil, and Rananim Mall each reported a 14% increase.
