Israel: Retail Foods
Link to report:
The COVID-19 pandemic has shaken the Israeli economy and it is unclear how quickly it will recover. To date, the Israeli food retail sector, unlike the majority of sectors, has benefited from the pandemic and 2020 is expected to be a record year with an increase in revenues and profits. Israel is a net importer of all major categories of food products. The retail food market normally faces slow growth, limited competition, and high prices. Israeli food prices are 19 percent higher than the OECD average. Israeli citizens spend more than 16 percent of their income on food and beverages. In general, consumers choose to shop at supermarkets over traditional markets due to competitive prices and longer hours of operation. Over 60 percent of consumers buy their food at supermarkets.
