- POS transaction values fell 21.3% from the previous week
- Spending in restaurants and cafes accounted for the largest share at SR1.80 billion
RIYADH: Saudi consumer spending via point-of-sale terminals remained resilient at SR11.11 billion ($2.96 billion) in the week ending June 14, even as transactions declined across all major sectors, official data showed.
The latest weekly report from the Saudi Central Bank, known as SAMA, showed that POS transaction values fell 21.3 percent from the previous week, while the number of transactions dropped 10.7 percent to 203.78 million.
The prior week, ending June 7, saw a spending peak of SR14.12 billion, driven by elevated Eid Al-Adha holiday consumption.
The contraction in weekly spending comes amid normalization following the Eid surge, but underlying consumer momentum remains intact — supported by Vision 2030 reforms aimed at digitizing payments and promoting a cashless economy.
According to the SAMA report, spending in restaurants and cafes accounted for the largest share of POS transactions at SR1.80 billion, though it saw a 12.4 percent decline from the previous week.
The food and beverage category remained another hotspot for POS activity, with transactions amounting to SR1.72 billion, also marking a decline of 18.7 percent.
Transactions in the miscellaneous goods and services category dropped 27.8 percent, reaching SR1.27 billion.
Spending at gas stations declined 6 percent week on week to SR857.45 million, while transactions in the clothing and footwear category fell 51.4 percent to SR655.95 million.
Affirming the steady momentum of infrastructure development in the Kingdom, POS spending in the construction sector stood at SR242.10 million, registering a marginal decline of 2.6 percent.
Geographically, Saudi Arabia’s capital, Riyadh, led POS transactions, recording SR3.58 billion. However, transaction values in the city declined by 22.2 percent compared to the previous week.
Jeddah followed with a 14.3 percent decrease to SR1.59 billion, while Dammam came third with transactions totaling SR526.12 million.
Hail experienced the most significant decline in spending, dropping 28.3 percent to SR182.14 million, followed by Tabuk, which saw a 27.5 percent reduction to SR197.60 million.
POS spending in Makkah declined 4.9 percent to SR517.62 million. In Madinah, transactions stood at SR457.70 million, reflecting a 22.7 percent weekly decline.
In Alkhobar, the value of transactions amounted to SR311.51 million, a drop of 2.19 percent, while Abha registered SR154.01 million in POS value, marking a 21.4 percent decline.
The continued momentum in POS activity underscores Saudi Arabia’s steady transition toward a cashless economy, in alignment with one of the core objectives of the Financial Sector Development Program under Vision 2030.
Source: www.arabnews.com