Israelis Set New Spending Record on Election Day
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Israelis spent a record 1.752 billion shekels on cashless purchases on election day, October 27, a 30.2% increase from the previous election day in 2022. The holiday was marked by significant spending on shopping, dining, and entertainment, with grocery stores, restaurants, and clothing retailers seeing substantial boosts. While overall spending broke records, online sales in electronics dropped, and food delivery demand decreased.
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- Israelis spent a record 1.752 billion shekels on cashless purchases on election day, October 27.
- This spending was 30.2% higher than the 1.346 billion shekels spent on election day in 2022.
- The record spending surpassed the previous high from municipal elections in January 2024 by approximately 10%.
- Restaurants and cafes saw 181.365 million shekels spent, a 53.89% increase from 2022.
- Spending on entertainment and hotels increased by 72% to 142% respectively.
- Clothing store purchases surged 148% on election day due to significant discounts.
Israelis set a new record for cashless spending on the day of the parliamentary elections held on October 27, with transactions totaling 1.752 billion shekels. This figure, released by the national payment infrastructure company SHVA on October 28, represents a 30.2% increase compared to the previous election day spending of 1.346 billion shekels on November 1, 2022. The new record surpassed the previous one from municipal elections on January 30, 2024, by approximately 10%.
During peak voting hours between 8:00 AM and 5:00 PM, card purchases reached 1.149 billion shekels. Israelis utilized their day off for shopping, dining out, and leisure activities, with spending in most sectors seeing double-digit percentage increases compared to prior election days. Restaurants, cafes, and fast-food establishments saw 181.365 million shekels spent, a 53.89% rise from 2022 elections and a 42.12% increase from the 2024 municipal vote. Entertainment spending surged by 72% to 136.6%, hotels by 15% to 142%, and electronics by 9% to 11%.
Groceries remained the top spending category with 238.196 million shekels, a rise partly attributed to increased prices since 2024. For comparison, card spending during the March 2021 Knesset elections was 1.249 billion shekels, and 1.191 billion in March 2020. Clothing and restaurant spending were notably higher on election day. Card transactions by 5:00 PM were 4.3% higher than a typical Tuesday, according to HYP. Clothing store purchases jumped 148% with an average transaction value increase of 9.8%, driven by 15-50% discounts. Food service transactions rose 44.2% with a 47.5% increase in average check size.
Conversely, food delivery demand dropped by 15.3%, as the holiday reduced the need for work lunches and encouraged dining out. Online sales saw a 35% increase only in clothing and footwear, compared to a 140% rise in physical stores. Online electronics sales fell 58%, while physical stores saw a 126% increase. Spending in Eilat decreased by 7%, while the Sharon region saw a threefold increase, and Hadera and Kiryat saw a 2.5-fold rise. The A.L.M. chain reported a 280% increase in foot traffic compared to normal days and a 13% rise over the 2022 elections. Popular items included the iPhone Duo, air purifiers, and robot vacuums. This spending surge occurs amidst reports of the Israeli economy's resilience, with rising real incomes, low unemployment, and record savings.
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