Israeli Shoppers Spend More During 'Shopping IL' Event
Translated & summarized from i24NEWS by baba
Israelis spent NIS 3.492 billion during the "Shopping IL" online sales event, a 3.2% increase from last year, according to Shva data. Significant spending growth was noted in tourism, leisure, and food sectors, with hotels up 14.1% and restaurants up 17.9%. The event is increasingly influencing spending beyond just product purchases.
The story in 5 lines · by baba
- Israeli credit card spending during 'Shopping IL' reached NIS 3.492 billion, a 3.2% year-over-year increase.
- Tourism and leisure sectors saw the largest spending jumps, with hotels up 14.1% and travel agencies up 10.7%.
- Restaurant and food service spending rose by 17.9% to NIS 262.7 million.
- Electronics and pharmaceutical sectors also reported notable spending increases.
- The 'Shopping IL' event is increasingly driving spending in non-product related areas like dining and travel.
Israelis spent NIS 3.492 billion on credit cards during the recent "Shopping IL" online sales event, marking a 3.2% increase compared to the same event last year. These figures were released by Shva, the company managing the national credit card payment system.
Analysis of the data revealed significant spending hikes in specific sectors. Electronics stores saw a 4.6% rise, with consumers spending NIS 244.8 million. The pharmaceutical sector experienced a 5.9% increase, totaling NIS 114 million, while clothing and footwear purchases reached NIS 226.4 million, up 3.9%. The sports apparel and equipment category also grew by 6.2%, amounting to NIS 29.2 million.
However, the most substantial growth was observed in the tourism and leisure industries. Hotel and accommodation spending surged by 14.1% to NIS 63.8 million. Travel agencies also benefited, with a 10.7% increase in spending, reaching NIS 89.9 million.
Spending on food and entertainment also saw considerable boosts. Restaurants, cafes, and fast-food outlets recorded a 17.9% rise, totaling NIS 262.7 million. Delicatessens, butcher shops, and bakeries experienced a 13.7% increase, with expenditures reaching NIS 144.4 million.
The data indicates that the "Shopping IL" event, traditionally associated with product discounts, is increasingly driving consumer spending in non-product areas like tourism and dining. Despite these sector-specific surges, the overall increase in public spending remained moderate at 3.2%.
