Israeli Discount Chains Slash Holiday Prices Amid Cost of Living Pressures
Israeli retail chains are offering low-cost Sukkot products as fintech data shows consumers are increasing transaction volume while spending less per purchase amid cost of living pressures.
As the holiday of Sukkot approaches, Israeli discount retail chains are rolling out affordable festive products to help consumers cope with the ongoing cost of living crisis.
Max Stock, a major Israeli discount chain, is offering dozens of popular holiday items at accessible prices. Among the featured deals, the store is selling a yellow cup adorned with bee stickers for just 1 NIS. Additionally, bamboo spoons in a cup are priced at 10 NIS, a pair of honey dippers for 5.90 NIS, a pack of disposable wine goblets for 5.90 NIS, and a wide variety of elegant plates for 10.90 NIS. Customers purchasing three trays will be charged 4 NIS, with the promotion extending to other disposable trays as well. The retailer is also offering a partitioned snack tray for 3.90 NIS.
Meanwhile, the high cost of living continues to impact household spending. Ahead of the holiday season, fintech company Hyp published data revealing that Israeli consumers made more transactions but spent less money overall leading up to Rosh Hashanah. Transaction volume in the ten days prior to the holiday increased by 2.3% compared to the same period last year, but total purchasing turnover dropped by 6% and the average transaction amount decreased by 8%. In supermarkets, the number of transactions remained nearly identical, yet shoppers spent an average of 16 NIS less per purchase, with the average transaction sliding 8% from approximately 281 NIS last year to around 258 NIS this year. Amid ongoing efforts by many Israelis to cut down on monthly and weekly expenses, retail chains continue to announce price cuts on in-demand consumer goods.
