RIYADH: Saudi Arabia’s point-of-sale transactions held above the $3 billion mark for a 12th straight week, supported by resilient consumer demand for food and beverages, official data showed.
The Saudi Central Bank, known as SAMA, reported that POS spending totaled SR13.10 billion ($3.49 billion) in the week ending Sept. 13, with the number of transactions at 231.05 million.
While this represents a 12.3 percent weekly drop in spending, and a 4.7 percent fall in transactions, the headline figures do underscore consumer confidence and the Kingdom’s ongoing digital transformation of payments, supported by initiatives under Vision 2030.
This marks a key milestone in Saudi Arabia’s cashless economy ambitions under the Financial Sector Development Program.
Food and beverages remained the top category, accounting for SR1.96 billion in sales despite a 13.1 percent decline. Restaurants and cafes registered SR1.57 billion, down 6.1 percent, while gas stations fell 5.6 percent to SR1.02 billion. Transportation transactions dropped 8.1 percent to SR966.76 million.
The sharpest drop was in the education sector, where POS value stood at SR285.12 million, marking a weekly decline of 57.6 percent.
Spending on professional and business services reached SR912.58 million, while apparel, clothing, and accessories totaled SR902.67 million.
The healthcare sector recorded a weekly decline of 5.8 percent to SR876.34 million.
Geographically, Saudi Arabia’s capital Riyadh dominated POS transactions, with a value of SR4.65 billion and 75.95 million operations. Compared with the previous week, however, spending in the capital fell 10 percent.
In Jeddah, POS transactions amounted to SR1.84 billion, down 12.4 percent, while Dammam recorded SR663.98 million. Makkah and Madinah registered SR506.11 million and SR496.20 million, respectively.
Al-Khobar posted SR376.90 million, while Buraidah and Abha stood at SR318.46 million and SR167.80 million, respectively.
The latest SAMA data indicates that consumer confidence in the Kingdom remains firm despite global economic headwinds, lending crucial support to Saudi Arabia’s broader economic transformation agenda.
In April, the central bank reported that non-cash retail transactions in Saudi Arabia reached 12.6 billion in 2024, up from 10.8 billion in 2023, highlighting the continued expansion of electronic payment systems across the Kingdom.
