- Saudi electronics spending rises 18.3% in one week, reaching SR247.2 million.
- Restaurant, food, and beverage sectors top overall POS spending at SR4.9 billion.
- Total POS transactions decrease 1.9%, with the education sector leading declines.
In the latest point-of-sale data from Saudi Arabia, consumers have increased their spending on electronics by 18.3% from September 15 to 21, totaling SR247.2 million.
Interestingly, the education sector saw a sharp decline in spending, dropping 23%, as it continues a downward trend after the back-to-school peak in August.
POS Transactions Dip Despite Surge in Electronics and Hospitality Spending
During the week of September 15 to 21, Saudi consumers boosted their spending on electronics, marking an 18.3% increase over the previous week, with total sales reaching SR247.2 million. The hospitality industry also saw strong growth, as spending in the hotel sector rose by 18.2%, reflecting increased travel and leisure activities.
Despite these gains, the overall POS transaction value fell by 1.9%, continuing a three-week decline. The restaurant and café sectors led total spending, followed closely by food and beverages. Together, these three categories accounted for a significant portion of the week’s SR11.9 billion in transactions.
While several sectors saw growth, others experienced notable declines. The education sector, in particular, saw the most significant drop in spending, falling by 23%, as the back-to-school rush waned. Public utilities and food and beverages also saw declines, indicating a shift in consumer priorities post-summer.
In terms of geographic spending, Riyadh maintained its dominance, contributing over a third of all POS transactions despite a slight decrease from the previous week. Jeddah, however, saw a modest rise in spending, while Tabouk experienced the steepest decline at 6.5%, signaling regional variations in consumer behavior.
The data underscores a complex spending landscape in Saudi Arabia, where consumer behavior varies significantly by region and sector, with certain industries thriving while others experience seasonal slowdowns.
“Consumer spending is the lifeblood of the economy, shaping industries and driving innovation.”
