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Thursday, Dec 08, 2022

SAMA: POS operations valued at SR10.27 billion in a week

SAMA: POS operations valued at SR10.27 billion in a week

The Saudi Central Bank (SAMA) revealed that the value of sales through point-of-sale (POS) operations in Saudi Arabia amounted to about SR10.27 billion during the week that ended on October 15.
According to the weekly POS operations report of SAMA, the number of executed POS operations during the week from Oct. 8 to 15 reached about 151.3 million. The report showed that consumer spending on the sectors of ‘restaurants and cafes’ and ‘food and beverages’ reached SR1.54 billion each, during the week.

SAMA report showed that Riyadh topped with SR3.22 billion, representing 32 percent of the total value of sales through POS operations. Riyadh was followed by Jeddah with SR1.56 billion, in terms of the value of spending through points of sale in cities during the week ending on 15 October.

The report showed that the majority of sectors witnessed a decline in terms of sales value during the past week. According to the report, all sectors witnessed a decline in terms of sales value during the past week, led by the furniture sector, which decreased by 28 percent, followed by the sectors of electronic and electrical devices, education, and jewelry by 26 percent.

It is noteworthy that POS operations represent what consumers spend via debit cards and credit cards in large shopping centers, retail stores, pharmacies, and other shopping outlets.
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