Will Election Day sales boost October's retail cycle?

The Phoenix Gama Index shows slight declines in most consumer sectors over the past week, with a double-digit drop in tourism. However, Phoenix Gama estimates that the election day holiday may spur a pickup in purchases thanks to promotions at chains like Adidas, Castro, and Lee Cooper.

The Phoenix Gama Index, which tracks credit card spending in Israel, shows slight declines in most consumer sectors over the past week, with the tourism sector experiencing a double-digit drop amid security uncertainty. However, Phoenix Gama estimates that the upcoming election day holiday on Tuesday may bring a 'pickup' in purchases thanks to promotions announced by chains and brands. The fashion and footwear sector saw a slight 1% increase in spending compared to the previous week, while online spending rose by 9%. On election day, promotions include 50% off the second item at Adidas in Tel Aviv Port, the entire Castro store and website without VAT, and 30% off Lee Cooper's winter collection. Nadav Lahmani, CEO of Control from Phoenix Gama, said the challenge is to convince the public to buy in these targeted promotions rather than waiting for November sales.

Will Election Day sales boost October's retail cycle?