Saudi Point-of-Sale Spending Holds Firm Above $3 Billion
Saudi Arabia’s point-of-sale (POS) spending has remained consistently strong, staying above the $3 billion mark for the 12th consecutive week. As reported by the Saudi Central Bank (SAMA), POS transactions totaled SR13.10 billion ($3.49 billion) in the week ending September 13, with 231.05 million individual transactions. Despite a slight weekly drop in spending by 12.3 percent and a 4.7 percent decrease in the number of transactions, these figures underscore the resilience of consumer confidence in the Kingdom and its evolving cashless economy.
Strong Consumer Demand Drives POS Transactions
Food and beverages led the charge in Saudi Arabia’s POS spending, accounting for SR1.96 billion in sales, despite a 13.1 percent decline. Restaurants and cafes contributed SR1.57 billion, down 6.1 percent, while gas stations recorded SR1.02 billion in transactions, falling by 5.6 percent. The transportation sector also experienced a drop, with spending dipping by 8.1 percent to SR966.76 million.
Despite these declines, consumer confidence remains steady, signaling the continued success of Vision 2030 initiatives designed to enhance digital payment systems and transition towards a cashless economy. The Kingdom’s ongoing financial sector development is critical to maintaining this momentum, reflecting a positive shift in the retail environment.
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Sectoral Trends in POS Spending
The sharpest drop was observed in the education sector, where POS value stood at SR285.12 million, reflecting a drastic weekly decline of 57.6 percent. This was followed by spending on professional and business services, which totaled SR912.58 million, and apparel, clothing, and accessories, with SR902.67 million in transactions.
The healthcare sector also saw a slight weekly decline of 5.8 percent, with POS spending dropping to SR876.34 million. These fluctuations highlight the varied demand across different sectors, though the overall trend indicates a stable consumer base despite external challenges.
Geographic Breakdown of POS Transactions
Riyadh, Saudi Arabia’s capital, continued to dominate in POS transactions, recording SR4.65 billion and 75.95 million operations. However, this represented a 10 percent drop compared to the previous week. In other major cities, Jeddah posted SR1.84 billion, down 12.4 percent, while Dammam reached SR663.98 million.
Smaller cities like Makkah and Madinah also recorded significant POS transactions, with values of SR506.11 million and SR496.20 million, respectively. Other cities, such as Al-Khobar, Buraidah, and Abha, saw transactions of SR376.90 million, SR318.46 million, and SR167.80 million, respectively. This geographic breakdown reveals a diverse retail landscape across the Kingdom, with Riyadh continuing to lead in both transaction volume and value.
The latest SAMA data highlights the ongoing confidence of Saudi consumers, even in the face of global economic uncertainty. Despite declining spending in certain sectors, the overall retail environment remains positive. The rise in non-cash retail transactions also reflects the Kingdom’s shift towards electronic payment systems, with 12.6 billion transactions reported in 2024, up from 10.8 billion in 2023. This growth underscores the ongoing success of digital transformation initiatives in Saudi Arabia, marking steady progress toward a fully cashless economy.
