Israeli Online Spending Surges 20% in Electronics Amid Summer Shopping Boom
Recent data from the Phoenix Gamma Index, which tracks credit card activity and consumer behavior in Israeli retail sectors, reveals a notable increase in spending across most categories during the past week, driven by summer trends. The only exception was the fashion sector, which saw a 3% decline. Wednesday emerged as the peak day for sales volume.
The most significant growth occurred in the electronics sector, with a 14% rise in sales compared to the previous week. This increase was equally reflected in both transaction volume and average purchase value. Online sales in electronics surged by 28%, while open-air shopping centers saw an 18% increase. In contrast, malls and street stores experienced only single-digit growth. The average online purchase in electronics was 2,019 shekels, notably higher than the 1,677 shekels average in physical stores. Analysts attribute this to easier price comparisons and exclusive online promotions.
Other sectors related to home renovations and moving also recorded over 10% growth in credit card spending, consistent with typical summer activity. These included building materials, home design stores, and sanitary ware outlets.
The tourism sector showed a modest 2% increase after an 8% decline the previous week, indicating a slowdown in summer travel bookings. Nadav Lahmani, CEO of Control by Phoenix Gamma, explained that most Israelis had already booked summer vacations earlier, and ongoing security concerns and uncertainty about potential conflicts with Iran have tempered new travel plans. Supporting this, data from lastminute.co.il shows that Israelis are booking flights much earlier than last year, with the average booking window extending from 40 to 66 days before departure, a 65% increase.
Overall, the data reflects a summer consumer pattern marked by increased online electronics purchases, steady home improvement spending, and cautious travel booking behavior amid regional tensions.
