The third day of the "Iron Swords" war also leaves its mark on the consumption characteristics of Israeli residents. In recent days, there has been a significant decline in revenues of consumer goods, compared with a significant jump in the food sector.
While malls and stores operate in a limited format of essential businesses, Isracard's data show that when comparing redemptions on Saturday-Sunday versus routine Saturday-Sunday without a holiday, there has been a 30% increase in consumption in the food industry.
Accordingly, in all other industries there has been a decline, partly very significantly. In the clothing and culture and leisure industries, there was a decline of about 80 percent, and in other industries such as pharma and communications equipment, there was a more moderate decline, which stands at about 50 percent.
According to Amit Sagi, VP Data, Digital and Marketing at Isracard: "Like all the people of Israel, my heart is broken and I am pained by the events of the past few days. The volume of transactions in the economy reflects the situation in which businesses are shut down and buyer traffic is sparse. Israelis are trying to digest the events and have immediately entered a state of war, characterized by increased purchases of basic consumer goods such as food and hygiene products and an almost complete halt to spending on leisure and luxuries. Hoping for quieter and better days."
Shai Berman, CEO of the Israel Restaurant Association, told Israel Hayom: "There are no redemptions in the restaurant sector. The restaurant industry is paralyzed. The industry is working at maybe 10% capacity."
Dan Piltz, CEO and co-owner of Dizengoff Center, added, "A few essential stores were operating in the Center today. About 10,000 people came during the day to these stores and to the local community center compound that we opened, where an MDA station for blood donations operates intermittently, and where you can volunteer packing and shipping equipment to combat units in the south, or use the free inflatable devices that operate there, for the benefit of residents of Lev Tel Aviv and evacuees from southern communities."
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