Official data reported that the point-of-sale transactions in Saudi Arabia increased to SR13.02 billion ($3.47 billion) at the end of the week, which ended on December 27, indicating a 4.3 percent surge from the previous week.
The most recent report that was published by the Saudi Central Bank (SAMA) shows that the number of transactions increased by 1.1 percent to 220.65 million in the period.
The continuing streak in POS expenditure indicates a strong demand among consumers and the continuous transition to digital payments in the Kingdom under the Vision 2030 program. Expenditure in the food and beverages industry was the highest with a value of SR1.91 billion, an increase of 1.2 percent per week.
The restaurants and cafes registered SR1.57 billion of transactions, a slight growth of 0.1 percent, and the apparel, clothing, and accessories segment spending increased 1.3 percent to SR1.23 billion.
The transportation sector spending increased 7.7 percent to SR943.18 million, and spending at the gas stations decreased 0.1 percent to SR918.88 million.
However, the POS transactions in the health sector came to SR776.02 million, an increase of 6.8 percent over the last week. Professional business service spending was at SR746.76 million, with furniture and home supplies coming at SR515.88 million.
The information provided by SAMA highlights the strong consumer confidence despite the global economic headwinds, providing continued support to Saudi Arabia’s broader economic transformation.
However, the central bank indicated earlier this year that non-cash retail transactions had been 12.6 billion in 2024, compared to 10.8 billion in 2023, and that the use of electronic payment systems has grown rapidly throughout the Kingdom.
The electronic payments amounted to 79 percent of overall retail transactions in 2024, compared with 70 percent a year earlier. Regionally, Riyadh registered POS transactions worth SR4.63 billion, representing a 5 percent weekly growth, with the number of transactions increasing 1.6 percent to 70.95 million.
Meanwhile, the value of transactions in Jeddah amounted to SR1.77 billion, 3 percent higher than the past week. Dammam came next with SR659.53 million, a growth of 8.4 percent. Thus, POS spending in Makkah was SR594 million, then Madinah with SR559.74 million, and Alkhobar with SR386.06 million.
