‎Consumer spending rises to SAR 122B in May

Consumer spending in Saudi Arabia increased by nearly 14% to SAR 121.96 billion in May 2024 from nearly SAR 107.43billion in the same month last year.

For more details on consumer spending from Argaam Tools

Consumer spending in Saudi Arabia represents total cash withdrawals, point-of-sale (POS) transactions, and e-commerce via Mada cards.

Consumer Spending (SAR bln)

Period

2023

2024

Change

January

105.19

114.24

+9 %

February

97.85

113.37

+16 %

March

120.62

126.18

+5 %

April

111.51

113.17

+1 %

May

107.43

121.96

+14 %

June

115.41

—

July

104.63

—

August

115.42

—

September

106.61

—

October

110.01

—

November

111.47

—

December

113.53

—

POS transactions saw a 13% year-on-year (YoY) rise to around SAR 56.5 billion in May.

The data showed that 894.49 million transactions were processed through 1.8 million POS terminals during the same period.

POS transactions represent the expenditures made by consumers using their ATM cards and credit cards at shopping malls, retail stores, pharmacies, and other retail outlets.

The table below indicates the development of POS transactions:

POS Transactions (SAR bln)

Period

2023

2024

Change

January

48.33

53.80

+11%

February

44.80

53.72

+20%

March

55.41

59.68

+8%

April

51.57

52.95

+3%

May

49.80

56.49

+13%

June

51.85

—

July

49.35

—

August

54.64

—

September

50.50

—

October

51.10

—

November

52.37

—

December

54.23

—

Cash withdrawals from ATMs grew by 10% YoY to about SAR 49.3 billion in May.

These withdrawals were processed through 15,800 ATMs in 129.8 million transactions.

ATM Withdrawals (SAR bln)

Period

2023

2024

Change

January

45.15

46.01

+2%

February

41.74

45.54

+9%

March

51.70

50.61

(2%)

April

47.32

—

(4%)

May

44.93

—

+10%

June

50.17

—

July

42.38

—

August

46.40

—

September

42.26

—

October

45.49

—

November

45.62

—

December

45.67

—

E-commerce sales through Mada cards climbed 28% YoY to SAR 16.2 billion in May.

According to monthly data issued by the Saudi Central Bank (SAMA), these sales were made through 91.9 million transactions.

Online sales include transactions processed through Mada cards for payments and purchases made via online shopping and applications. However, these do not include transactions conducted using Visa, Mastercard, or other credit cards.

The table below indicates the development of online sales via Mada cards:

Online Sales via Mada Cards (SAR bln)

Period

2023

2024

Change

January

11.71

14.43

+23%

February

11.32