Around half of all small- and medium-sized Israeli business owners now sell their wares both in physical stores and online, according to a survey by American financial technology firm PayPal. Last year, that number stood at 42%.
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According to the survey of 681 business owners, which was conducted over four days in October, 46% of respondents said they sold their goods overseas, a 1% decrease from the previous year. Likewise, 26% said online sales had helped them reach new audiences, compared to 20% the previous year. Sixty-three percent said online sales had helped them out financially in recent months, compared to 57% who shared the sentiment in 2020.
PayPal carried out a separate survey of consumers and found that 4.28% of respondents had saved up in preparation for November's Black Friday sales compared to 23% who said they had in 2020.
According to the survey of 637 consumers representing a random sample of four sectors from around the country, the average Israeli consumer spends 642 shekels (around $201) on average a month, a dramatic 31% increase over the 491 shekels ($154) reported last year.
The study further found that an additional 18% of Israelis began shopping online, compared to the 14% who began shopping online in 2020.
Twenty-six percent of Israelis surveyed said they prefer to shop online, a 4% increase over last year. Conversely, 48% of respondents said they were uncomfortable with online payments or sharing their financial details online.
Efi Dahan, Regional Director for PayPal Africa and Israel, said, "This year as well we saw an increase in the adoption of digital tools for buying and selling [products] among consumers and businesses. Alongside that, around 50% of consumers in Israel are still worried about entering their financial details when completing a purchase online. Prior to the coronavirus, consumers in Israel were considered online buyers on a global scale and were accustomed to high and international standards – from the cost of delivery and product return policy and the price of the product itself and offering safe and convenient means of payment."
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