Israel’s fashion and beauty industry has
changed significantly over the past few years, including the introduction of
international fashion retailers, an increase in the number of international
brands, more shopping malls are being built and commercial areas are displaying
an impressive growth in revenue.
Most Israelis prefer to purchase new items in
a store nearby their place of residence or in a commercial shopping center if
numeral purchases and errands need to be done. Therefore, shop owners are
compelled to offer a large variety of brands, to prevent consumers from having
to go to either another store or online to find a specific brand.
There has been a sharp increase in the
consumption of fashion and beauty products. In recent years, private
consumption has become a dominant force in Israel’s economy, due to low
interest rates, low unemployment rates as well as a rise in wages which then
contribute to an increase in private consumption.
Israelis love international brands and are
always looking out for a good deal. The Israeli consumer has a high regard for
quality and would prefer to purchase goods that have been proven to be durable
and convenient to use. Innovation is another element considered when purchasing
items. Consumers who purchase expensive products give great importance to a
product which is considered progressive, prestigious, and fashionable.
In conclusion, Israel might only be a dot on the map, but has
a blooming lifestyle industry with many business opportunities.