Saudi Arabia’s point-of-sale spending reached around SR58.51 billion ($15.6 billion) in August, marking a 9.67 percent rise compared to the same month last year, according to the latest data.
Figures from the Saudi Central Bank, known as SAMA, revealed that 36 percent of POS spending during this period — totaling SR16.55 billion — was spent on beverages, food, restaurants, and cafes, reflecting a 4.72 percent increase. This growth was primarily driven by higher spending in restaurants and cafes.
An additional 6.2 percent, amounting to SR3.63 billion, was allocated to clothing and footwear, while health and transportation each accounted for approximately 6 percent, or SR3.38 billion, of the total.
The strongest growth in POS spending during this period was in jewelry sales, which rose by 15 percent to SR982.15 million. Telecommunications also grew by 14 percent to SR493.5 million, although it represented only 1 percent of the total share.
Expenditure on miscellaneous goods and services, including personal care, supplies, maintenance, and cleaning, saw a 12 percent increase, reaching SR6.56 billion in August.
The rise in POS spending across Saudi Arabia, particularly in the hospitality sector, is attributed to several interrelated factors that reflect the Kingdom’s ongoing economic transformation and digitalization initiatives.
As technology adoption accelerates and consumers increasingly prefer cashless transactions, businesses are recognizing the need for robust POS systems to enhance operational efficiency and customer experiences.—AN
