Saudi POS Transactions Hold at $3bn as Education Sector Boosts
Riyadh Sees SR4.58 billion in Spending Amidst Overall Decline
RIYADH: Saudi Arabia's point-of-sale transactions remained above the $3 billion mark for the second week running, driven by a significant increase in spending on education and resilience in consumer activity across the Kingdom.
The total POS value stood at SR13.6 billion with a 12.3 percent weekly drop according to data from SAMA, the Saudi Central Bank.The subcategory of pharmacies and medical supplies saw the largest decrease, falling by 24.7 percent to SR278.94 million.
Other sectors such as food and beverages recorded a 17.8 percent decline to SR1.93 billion, while restaurants and cafes dropped by 7.9 percent totaling SR1.75 billion.The resilience in consumer activity was further reflected in the spending on education which rose by 32.5 percent to reach SR251.79 million ($67.09 million).
It was the only sector with a positive change during the monitored period, recording 161,000 transactions despite a 3.2 percent dip.Geographically, Riyadh dominated POS transactions with expenses reaching SR4.58 billion and a 9.8 percent decrease from the previous week.
Jeddah followed closely with a 9.7 percent drop to SR1.91 billion, while Dammam ranked third with a decline of 9.2 percent to SR634.68 million.The smallest decrease was seen in the hotels sector, which dropped by 1 percent to SR349.97 million.
Medical services and apparel saw decreases of 6.6 percent and 10.7 percent respectively.
Overall, these changes highlight the shifting consumer spending trends in Saudi Arabia as evidenced by point-of-sale transactions.
The total POS value stood at SR13.6 billion with a 12.3 percent weekly drop according to data from SAMA, the Saudi Central Bank.The subcategory of pharmacies and medical supplies saw the largest decrease, falling by 24.7 percent to SR278.94 million.
Other sectors such as food and beverages recorded a 17.8 percent decline to SR1.93 billion, while restaurants and cafes dropped by 7.9 percent totaling SR1.75 billion.The resilience in consumer activity was further reflected in the spending on education which rose by 32.5 percent to reach SR251.79 million ($67.09 million).
It was the only sector with a positive change during the monitored period, recording 161,000 transactions despite a 3.2 percent dip.Geographically, Riyadh dominated POS transactions with expenses reaching SR4.58 billion and a 9.8 percent decrease from the previous week.
Jeddah followed closely with a 9.7 percent drop to SR1.91 billion, while Dammam ranked third with a decline of 9.2 percent to SR634.68 million.The smallest decrease was seen in the hotels sector, which dropped by 1 percent to SR349.97 million.
Medical services and apparel saw decreases of 6.6 percent and 10.7 percent respectively.
Overall, these changes highlight the shifting consumer spending trends in Saudi Arabia as evidenced by point-of-sale transactions.
