RIYADH: Saudi Arabia’s point-of-sale spending reached SR14.94 billion ($3.98 billion) in the week ending Sept. 6, driven by steady demand for food and beverages, official data showed.
According to the latest figures issued by the Saudi Central Bank, also known as SAMA, POS activity in the food and beverages category stood at SR2.26 billion, down 1.8 percent week on week, but remained the single largest driver of overall spending.
The total value of POS transactions fell 5.4 percent from the previous week, largely due to a 39.2 percent decline in education-related spending.
SAMA reported that the total number of POS transactions climbed 2.3 percent to 242.49 million.
The rising number of POS transactions in Saudi Arabia highlights sustained consumer confidence and the ongoing shift toward digital payments, underpinned by the Kingdom’s Vision 2030 reform agenda.
