Consumer spending through points of sale in Saudi Arabia during the last week ending on April 10, decreased by 11.7 percent, compared to the previous week ending on April 3.
According to the monitoring unit of the reports in Al-Eqtisadiah newspaper, which was based on the data of the Saudi Central Bank “SAMA”, consumer spending during the week ending on April 10 amounted to about 10 billion riyals, compared to about 11.37 billion riyals for the previous week, with a difference of 1.33 billion riyals.
The decline in consumer spending through points of sale comes after last week, it recorded the highest weekly spending since the central bank began publishing weekly data at the end of May 2020.
Regarding the sectors ’performance, compared to the previous week, sales declined in all sectors, led by the education and communications sectors.
Where the “education” sector recorded a decline in sales of points of sale by about 22.9 percent, as spending amounted to about 100.3 million riyals, followed by the “communications” sector, which declined by 16.5 percent, and sales amounted to 102.3 million riyals.
Sales of the “entertainment and culture” sector also declined by 16.2 percent to reach 267.6 million riyals. We also find a decline in sales in the health and transportation sector, as well as clothing and shoes, by rates ranging between 15.8 and 13.4 percent.
On the sectors that spend the most in terms of percentage, we find the food and beverage sector sales, which constitutes 17.4 percent of total sales of point of sale devices, or the equivalent of 1.74 billion riyals, with weekly sales declining by 9.6 percent.
While sales of the restaurants and cafes sector come second, which constitutes 12 percent, and spending amounted to 1.2 billion riyals, while the sector’s sales through points of sale decreased by 9.2 percent.
In addition, the number of transactions executed via POS devices decreased during the past week by about 5.4 percent, to reach about 96.1 million transactions for all sectors, compared to about 101.6 million operations for the previous week.
At the city level, spending in the capital, Riyadh, decreased by 9.3 percent to reach 3.14 billion riyals, which constitutes 31.2 percent of the total sales of points of sale, while spending in the city of Jeddah amounted to about 1.69 billion riyals and about 556.6 million riyals in the city of Dammam.
Economic Reports Unit