The last two days' data at branches participating in the "Israeli Cheap Basket" project indicate a sharp acceleration in demand and activity volumes: branch revenue increased by approximately 331%, alongside a significant increase in the number of customers by tens of percent.
At the same time, an increase of approximately 240% was recorded in sales of the 100 products in the basket, a figure that illustrates the clear shift of consumers to products at prices set as part of the move.
The basket products are currently sold at prices tens of percent lower than market prices, with the gap from the national average currently standing at over 34% according to PriceS data.
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These are prices that have not been seen in Israel for over 25 years, and the deep assumption is that the gap will be maintained over time, with retail chains finding it difficult to respond at these price levels.
These gaps create a clear consumer alternative and lead to an actual change in buying habits.
Carrefour Israel CEO Michael Loboshitz: "Consumers in Israel are smart and they vote with their feet. We have lowered prices by a margin not seen here in decades, and the public is feeling the savings of hundreds of shekels on every purchase. The public's expression of trust is important to us, gives us a boost and encourages us to continue to consider expanding the move.".
