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Changes in Credit Habits | Israel today

2020-03-24T22:48:50.695Z


economy


Credit companies data show: Drop in tourism, aviation and consumer goods • Earn while in Corona: Food and Pharm industries

  • Illustration Illustration: GettyImages

 The worsening of the spread of the corona virus is reflected in changes in consumption patterns, as shown by credit card companies.

MAX data shows that the tourism industry, which was among the first to be hit, is experiencing a sustained decline. On March 1-22, there was a 74% fall in transaction volumes, compared to the previous month. Compared to the same month last year, the decline is even more significant and stands at 81%.

The leisure and entertainment sector was also hit, with a 16% decline compared to February and March last year.

MAX data also shows that the apparel and footwear sector has dropped 22%, with course shifting toward online shopping. On the other hand, there is a 30% increase in the food industry and a 16% increase in pharma and medical services compared to the previous month.

MAX notes that "we will continue to monitor developments closely, providing benefits from various areas that will make it easier for the general public to stay at home."

According to data from the ICC research department, from the beginning of the month compared to other months, there was a 35% decline in fashion, 70% in hospitality and hotels, 90% in tourism and aviation, 13% in transport, 25% In restaurants, a 28% reduction in leisure and recreation and a 5% decrease in fast food.

The food chain industry, on the other hand, saw a sharp 42% increase. Beyond stocking up, people don't eat at work and cook more at home and so buy more and more food.

In addition, the Israelis have almost completely stopped ordering from international sites, and the purchases that are still being made online are mainly through Israeli websites, which guarantee fast delivery home.

The latest data from the IBA, an automatic bank services company that operates the national credit card payment system, shows that before the strict guidelines, credit card business activity in Israel increased during the weekend of the Corona crisis on March 14-12. .

The data collected by the IAA show that during this weekend Israelis "irked" credit cards in the country in the amount of NIS 2.222 billion. This is a 1.4% increase compared to the activity in credit cards last weekend, in which they spent a total of NIS 2.191 billion.

Source: israelhayom

All news articles on 2020-03-24

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