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Vacation abroad, cosmetics and mobile devices: this is how you can benefit from the weakening dollar - Walla! Money

2021-11-09T10:50:14.127Z


The dollar fell to a new low and completed a decrease of about 25% in value compared to the shekel. How can we benefit from this? (Hint: Fly to New York and do not return without a new iPhone). The complete guide


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Vacation abroad, cosmetics and mobile devices: this is how you can benefit from the weakening dollar

The dollar fell to a new low and completed a decline of about 25% in value compared to the shekel in the last five years.

The smart ones among us will be able to take advantage of the situation to their advantage and lower the costs of many consumer products, from toiletries to vehicles.

Here's how to do it - the complete guide

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Walla!

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Tuesday, 09 November 2021, 12:40

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The dollar continues to fall and today (Tuesday) it stands at 3.1 shekels to the dollar, which has been low for years, thus continuing the trend that has played the dollar against the shekel close to 25% in the last five years.



We all experience the high cost of living in Israel every day and hear about the expected price increases, but if you earn (most likely) your money in shekels and purchase products or services in dollars, you can use the strong shekel to our advantage and reduce quite a few of them.

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A friend flying abroad? It's time to give him money to bring you a phone (Photo: Reuters)

One of the expectations is to lower prices by importers, but those who wait for them to give up the unexpected profit on their own initiative, probably live in illusions:



despite the dive in the value of the dollar, importers of technology products in Israel are in no hurry to reflect this to the consumer. For example,

Samsung Israel

responded to Walla! Because currently a drop in prices is not on the agenda.



Even in

Aiidigitl importer Apple (iPhone)

Israel said: "As a company we do not go the way of price changes frequently, and often we absorb costs and exchange rate differences do not change the retail prices despite increases in the past. If the decline continues and we realize that this is not a situation specific, We will look into the matter again. " They are right of course, but we would be happy if they see "absorption of exchange rate differences" in the cumulative calculation of recent years.



In the

Runlight

Group

, an importer of leading brands - including Garmin, OPPO and Gopro

"Although it is too early to talk about price changes, we are committed to bringing the Israeli consumer the most advanced products at the most attractive price and we will continue to do so. It is important to remember that along with the fall in the dollar, They are about the prices of the product to the consumer, at least like the exchange rate and even more. "



Even in

Hamilton, the importer shall be verified by Israel

, would rather talk than slogans and less Tacheles: "Buying full manufacturer is a process that stretches over a long time, reservations are made several months before the supply of the products. Therefore, the decline of the currency or another unexpectedly usually does not affect orders Already done. "



From

network istore

said: "Network iStore has espoused a policy of fair prices throughout the year.


Network performs regularly updates price according to market conditions"



In other words: Are you flying abroad or do you have a friend who flies? Give him shekels to save for a smartphone or any other product that is easy to bring to Israel. Immediate savings are guaranteed. Of course, purchases over $ 75 must be taxed, The red, by law, will find that in some products it is worth paying customs instead of paying the price tag in Israel.

New cars: Car importers are not in a hurry to lower prices (Photo: ShutterStock)

Car: Do not expect discounts

There are no big news among car importers either: when it comes to car prices and spare parts, it seems that the old economic laws do not really apply to what moves on the roads.



The recent downward fluctuations in currency exchange rates and the strengthening of the shekel have not only not lowered the prices of new cars, but on the contrary, we have been witnessing waves of price increases for several months now.



There are several reasons for this, the first being that car importers tend not to change car prices too often, certainly not downwards. Further, the reduction of the price of the new car has a “chain effect” that directly affects the prices of used cars.



An importer associated with close ties to leasing and rental companies holding fleets of hundreds and thousands of cars will not be in a hurry to lower the price, as such a reduction has catastrophic significance. When it comes to an expensive product and when the preservation of the value of the car is one of the assets of the local market, it is a move that they avoid.



The official excuse is that setting a price in advance also takes into account an increase in currency rates and they absorb them when these occur, so do not rush to lower prices when these turn to the other side. The fact that the "adverse" change of importers has not taken place recently is probably irrelevant to them.



A third factor is related to the current situation of the automotive industry, which is facing production difficulties, rising cost of raw materials and car shipping. These attach to a counterweight to the fall in currency exchange rates and prevent the fall in car prices. And between us, the main reason we have not yet mentioned and perhaps it is better to agree on the sentence: Who wants to earn less?



Here too the correct method is "do it yourself", it may not be relevant to everyone, but if you have a dream car that you always wanted to buy and avoided, you may want to check out a personal import route: The savings may turn out to be significant.

Vacation abroad: There is no other place where you will feel how the strong shekel buys you more than during a vacation whose expenses are paid in dollars (Photo: ShutterStock, PR)

Fly from here - and now

The tourism market is only partially open and the temporary instructions are constantly changing because of the corona virus and its new variants.

Still, if you've been thinking about a vacation soon, it's time to realize: flights are sold for dollars, so are hotels, rental cars, and of course, all living expenses.



In the end, there is no place where you will feel your strong shekel, let alone - enjoy it, as when on vacation abroad: if you sat in the same restaurant in New York and ate for a hundred dollars, then the exact same meal a few years ago, cost you (about) A hundred shekels more, here you have already "saved" the price of wine.

Not just grooming and toiletries: there are quite a few products that can be ordered from abroad and customs will not play all the savings (Photo: ShutterStock)

Personal import of consumer goods

On the website of the Tax Authority, you can find all import tariffs on a personal import route to Israel. There are also companies that provide such services, for example in the purchase of toiletries, cosmetics and more.



If a little bureaucracy does not scare you, you are welcome to try to import your own products that can be purchased abroad at a discounted price: in many cases you will find that even after paying customs duty legally, you can save a significant amount, especially when it comes to everyday products. fine.



all you need to do is to check the price on foreign trade, check how much you'll add them (according to the website of the tax Authority) - and if it's a bit complicated, trading platforms have to do the calculation for you - and just purchased. Perhaps if tens of thousands of us do so, the recognition among importers that it is better to offer Israelis "suckers" a competitive price will permeate.

In the end, there is no substitute for consumer wisdom: is the exchange rate difference not reflected in the consumer discount?

Buy only brands that we think we sometimes deserve to enjoy (Photo: ShutterStock)

So true, not everyone can or wants to fly abroad - and many of us will find it difficult to carry out a personal import procedure of any kind (although it is easier than you think). The maximum quota for an adult in the family and to divide the shopping among all those who have already turned 18. And



maybe even better if we are not sophisticated consumers, at least we will be smart: the expectation of a discount from anyone who imports in dollars and sells in shekels, should be translated Understand: it is better to pass on some of the unexpected profit generated, also to consumers.

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Source: walla

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