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
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
14.11
+25%
March
13.50
15.89
+18%
April
12.63
14.85
+18%
May
12.71
16.22
+28%
June
13.39
—
—
July
12.90
—
—
August
14.38
—
—
September
13.85
—
—
October
13.42
—
—
November
13.48
—
—
December
13.63
—
—
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