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The virus is gone, the online remains
Much has been said about the strengthening of online sales in the Corona era, but is it just a temporary change in consumption habits?
Walla!
Money and Maariv, compare our shopping data on Passover 2019 to Passover 2021, before and after the Koruna, and the result is surprising.
Chapter One, Credit Cards
Tags
credit
Shopping
credit cards
Isracard
consumption
Ilana Stutland
Thursday, 22 April 2021, 13:31 Updated: 14:00
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In the run-up to Passover, with the removal of restrictions and the opening of malls and shopping centers, we have set out laboratories for freedom in the consumer field as well. It is time to examine what emerges from the data on the opening of the economy regarding the consumption habits of Israelis and to what extent the year 2020 - the year of the corona - affected this. For example, did the online shopping frenzy continue even when the malls and shopping centers opened, and in general - did the end of the closure make Israelis feel that they must buy as much as possible?
Data from the company ABS (Automated Banking Services), Director of the national payment system credit cards, indicate that during Passover in 2021, a recovery was greater economic and credit card purchases during the intermediate days soared.
Compared intermediate days of 2020, during which it was closed tight and severe restrictions on the activities The economy Due to the outbreak of the corona virus, Israelis' spending on credit cards soared by 228.4% and reached a total of NIS 5.583 billion, compared to only NIS 2.444 billion last year.
Israelis' spending on credit cards during the week of 2021 also jumped compared to the week of 2019 (pre-Corona era), when the amount was NIS 4.995 billion.
If we look at the data on the eve of the holiday itself, then according to the ISA on Friday, March 26, 2021 (the day before the eve of a holiday that fell on Saturday, March 27), expenses were recorded in the total amount of NIS 858.25 million compared to Passover 2019 which falls on Friday April 19th, which recorded expenses in the amount of 722.8 million.
in addition, according to the ABS, the total amount spent Israelis Chol Hamoed 2021 online transactions stood at 2.908 billion and is 24.4% higher compared with the volume of purchases online transactions Chol Hamoed 2019, which amounted to a total of NIS 2.337 billion.
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Go to stores, but buy more from home (Photo: ShutterStock)
Buy more, iron less
An analysis of Passover 2021 data versus Passover 2019 by Isracard also shows that the effect of the liberation of the economy caused Israelis to purchase debit cards on a larger scale this year compared to 2019 (where we did not yet know the word corona).
The total turnover of purchases in the Group's credit cards during all Passover days 2021 amounted to NIS 3 billion (an increase of about 14%), and they made more transactions (an increase of about 12%), with an increase of only about 7% in the number of customers. . Due to the fact that this year the eve of the holiday falls on a Saturday, apparently the shopping pressure has shifted to Friday, March 26th.
According to Isracard data, throughout the day the turnover on debit cards was higher compared to the data in 2019. In the total on the eve of the holiday, there was a 30% increase in the volume of turnover and a 28% increase in the volume of transactions.
The material change, according to Isracard data, actually occurs in the payment habits of the Israeli consumer and there is a significant decrease in the execution of "ironing" debit card transactions.
There has been an increase in CNP turnover (transactions in which the card is not displayed and is made online or by phone) from about 2% in 2019 to 7% in 2021 compared to holiday eves.
In the clothing and footwear industries as well as in the supermarket, the most significant change is noticeable in relation to the advanced payment methods and a change in consumption habits.
Uri Alon, Deputy CEO of Isracard. Pay on credit, without the card (Photo: Sivan Farage)
"The corona has accelerated us forward"
"The decline in the execution of 'ironing' debit card transactions is due to two phenomena we have seen in recent times," says Uri Alon, Deputy CEO of Isracard.
Another trend, which has been talked about for a decade in the financial industry, is the transition to advanced means of payment, including one that allows payment in digital wallets, without the need to issue the card itself. In July 2020, for example, we launched the Isracard application - ANYPAY - payment from the mobile in touch. "
What is your expectation for the future?
"Things would not happen either, not the Corona, but I think the Corona accelerated us five years ahead and just accelerated processes that would happen here slowly. Today businesses no longer have to educate the consumer and explain to him that an online transaction is safe and the like. "We used to have a product called 'The Online Store.'
Tomorrow at Walla!
Money, the second part of the project: How has the corona affected our buying habits in the supermarket?
The full article will be published tomorrow (23.4) in the Maariv business supplement
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