Israelis Spend Big on Election Day, Boosting Retail Sales
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Israelis significantly increased credit card spending on election day, October 27, with 251 million shekels spent by 11:00 AM, a 26.5% rise from the previous election day. Shopping malls reported a 2.5-fold increase in visitors and revenue. Food and beverages, along with online purchases, dominated spending categories, while fashion saw a notable surge in transactions.
הידיעה ב-6 שורות · תקציר של baba
- Credit card spending on Israel's election day reached 251 million shekels by 11 AM, up 26.5% from the previous election.
- Shopping malls saw a 2.5-fold increase in visitors and revenue compared to a regular day.
- Food and beverages accounted for 59% of spending, followed by leisure (16%) and clothing (10%).
- Online purchases represented 53% of total spending, with an average transaction of 263 shekels.
- The fashion sector experienced a 198% surge in transactions on election day.
- Food delivery orders dropped by 78% on the holiday.
Thousands of Israelis took advantage of the election day holiday for the 26th Knesset elections on October 27 to go shopping and engage in leisure activities. According to Shva (Automatic Banking Services), which manages the national payment system, credit card spending between 8:00 AM and 11:00 AM reached approximately 251 million shekels. This represents a 26.5% increase compared to the same period on election day for the 25th Knesset in November 2022, when spending was around 198 million shekels. The figure also shows a 10.6% rise from the local authority elections in February 2024, when 227 million shekels were spent in the same hours.
The peak spending occurred at 10:57 AM, with over 11,300 transactions totaling about 2.4 million shekels in that minute. Shva's data encompasses all Israeli credit card transactions in shekels. While the average spending per card decreased by about 15% compared to the 2022 elections, reaching 202 shekels by 10:00 AM according to credit company MAX, this may be due to more people using multiple cards for purchases. Shva's data also extended to 11:00 AM, an hour later than MAX's reporting.
MAX reported that 59% of spending was on food and beverages, 16% on leisure and entertainment, and 10% on clothing and footwear. Online purchases accounted for 53% of all spending, with an average online transaction of 263 shekels, compared to 147 shekels for in-store purchases.
Payment company HYP also noted increased activity, with a 13% rise in transactions by 10:00 AM compared to the previous Tuesday. The fashion sector saw a significant surge, with a 198% increase in transactions and a 17% rise in the average transaction amount to 327 shekels. Restaurant transactions grew by 10%, while food delivery orders dropped sharply by 78%, likely because fewer people were ordering work lunches on their day off.
Shopping malls experienced a substantial increase in foot traffic and revenue, with data indicating a 2.5-fold rise by 12:30 PM compared to a typical day. Big Fashion Givatayim, part of the Big group, reported over 10,000 visitors by 12:00 PM, a 134% increase over a normal day, with similar trends observed across other Big centers nationwide.
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