October sees 17% drop in fashion sales

Israelis spend 20% more than in same period in 2008, but volume of sales in fashion stores has been declining since June

Reuters | Published: 11.28.09, 08:21

Have the dry autumn and the delay in the winter's arrival affected sales in Israel's fashion industry? The volume of sales in the industry was 17% lower in the month of October than in June, according to figures presented by Gama Management and Clearing Ltd., based on the clearing of credit card payment vouchers.

The company cleared 681,500 payment vouchers in fashion stores in October, and 819,000 vouchers from the same stores in June. The average purchase in fashion stores in October totaled NIS 280 (about $75) compared to NIS 252 ($67) in June.

The data also revealed that between January-June 2009, the volume of deals in fashion stores was on the rise, but has decreased since June.

It appears, however, that compared to the same period in 2008, there has been a rise in fashion shopping. Israelis spent 20% in fashion stores in October 2009 than in October 2008. The same rate in September 2009 was 32% higher than in the same month last year.

The average credit card purchases, on the other hand, were higher in 2008: NIS 300 ($80) in October 2008 compared to NIS 280 ($75) in October 2009.

Gama CEO Ariel Ganot said these figures point to difficulties in the fashion industry, but not to a crisis.