Israel: Buying and Selling
The GDP per capita (PPP) of Israel is USD 42,193 (World Bank, 2019), an increase from USD 40,261 the year before. According to data from the Central Bureau of Statistics, the average monthly salary in Israel in June 2019 was NIS 11,175, a 2.9% increase year-on-year. The average household net-adjusted disposable income per capita in Israel is lower than the OECD average of USD 33,604 a year.
Private consumption rose 3.9% on a yearly basis in 2019, with non-durable goods accounting for the most part (Central Bureau of Statistics). The Gini Index of Israel was of 39 in 2016 (World Bank, latest data available).
A report by the Organisation for Economic Cooperation and Development, titled “The Pursuit of Gender Equality: An Uphill Battle,” shows that Israeli women have a particularly steep hill to climb. The data was confirmed by the CBS, which showed that in 2018 women working full-time jobs earned on average 27.5% less than their male peers.
Israelis are responsive to advertising and branding. Shopping is a popular pastime and Israelis are interested in purchasing quality items, even if that means paying a higher, albeit reasonable, price. After-sales services and warranties are also mandatory, as Israeli consumers consider warranties to be a guarantee of the quality of the product. Israeli consumers enjoy new products and the Israeli legislation promotes national products. Israeli consumers are also quite interested in online shopping. According to the Israel Internet Association, 75% of Israelis (95% of total Internet users) shop online, making them the most connected shoppers in the world. Furthermore, 79% of online Israeli shoppers make purchases from foreign websites, according to a study conducted by PayPal and Ipsos.
According to a Nielsen survey for SIAL, 20% of consumers are ready to pay more for innovative products, whereas 34% declare themselves willing to reduce their shopping cart and 65% of them consider "health" to be the key consideration while shopping.
Collaborative platforms for transport such as Uber in Israel is not common. Instead, locals use mobile application called GetTaxi, which is connected to a licensed taxi or public transport.
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Latest Update: June 2022