Israelis Flock to Shopping on Election Day, Credit Card Spending Soars

Israelis significantly increased their spending on credit cards on election day, taking advantage of the national holiday for shopping, dining, and entertainment. Data from Shva, the national payment system operator, revealed that between 8:00 AM and 5:00 PM, credit card expenditures reached NIS 1.14 billion, a 41.2% surge compared to the same period during the previous election day on November 1, 2022. This spending level is also 12.9% higher than the NIS 1.01 billion spent during the same hours on election day for local authorities in January 2024, which previously held the record for election day spending at NIS 1.591 billion for the entire day.

Fintech company Hyp reported a 4.3% increase in transaction volume by 5:00 PM compared to the previous Tuesday, a regular shopping day. The fashion industry led this growth with a 148% rise in transactions and a 9.8% increase in average transaction value, driven by discounts of 15%-50%. Restaurants also saw a 44.2% increase in transactions, with average spending up by 47.5%. Conversely, food delivery services experienced a 15.3% drop in transactions, likely because people were not ordering food for work and were out of their homes.

Analysis from Isracard indicated a preference for physical shopping over online purchases, with a 58% rise in in-store transactions and a 44% decrease in online sales. The apparel and footwear sector was an exception, showing a 35% increase in online sales alongside a 140% surge in physical store transactions. The electronics sector saw a 58% decline in online shopping but a 126% increase in physical store transactions.

Geographically, while Eilat saw a 7% decrease in purchases, the Sharon region experienced a threefold increase, and Hadera and Krayot saw a 2.5-fold rise. Tel Aviv showed a more modest 0.6-fold increase. Retail chains like ALM reported a 280% jump in store visitors, exceeding the previous election day by 13%. Popular items included the iPhone Duo, air purifiers, and robotic vacuum cleaners. Shopping centers like Big Galilot and Dizengoff Center reported significantly higher visitor numbers and sales compared to regular days and even holidays. Ofer Malls noted a threefold increase in visitor volume compared to a regular day, with Ramat Aviv, Petah Tikva, Rehovot, Haifa, and Beer Sheva malls being particularly busy.