AI Summary
POS device
Consumer spending in Saudi Arabia grew 8% to SAR 115.4 billion in August 2023, from nearly SAR 107.1 billion during the same month last year, according to the Saudi Central Bank's (SAMA) monthly bulletin.
Consumer spending includes total cash withdrawals, point-of-sale (POS) transactions and e-commerce sales through "Mada", as the following table shows:
|
Consumer Spending (SAR bln) |
|||
|
Month |
2022 |
2023 |
Change |
|
January |
97.61 |
105.19 |
+8% |
|
February |
88.57 |
97.85 |
+10% |
|
March |
113.81 |
120.62 |
+6% |
|
April |
107.29 |
111.51 |
+4% |
|
May |
93.22 |
107.43 |
+15% |
|
June |
103.58 |
115.41 |
+11% |
|
July |
102.97 |
104.63 |
+2% |
|
August |
107.12 |
115.42 |
+8% |
|
September |
103.99 |
-- |
-- |
|
October |
105.34 |
-- |
-- |
|
November |
103.29 |
-- |
-- |
|
December |
109.77 |
-- |
-- |
POS transactions rose 10% year-on-year (YoY) to roughly SAR 54.6 billion in August.
Data showed 791.7 million transactions were processed through 1.69 million POS devices during the same month.
POS transactions represent what consumers spend using their ATM and credit cards in shopping malls, retail stores, pharmacies, etc.
The following table shows the development of POS transactions:
|
POS Transactions (SAR bln) |
|||
|
Month |
2022 |
2023 |
Change |
|
January |
43.56 |
48.33 |
+11% |
|
February |
38.88 |
44.80 |
+15% |
|
March |
51.00 |
55.41 |
+9% |
|
April |
49.44 |
51.57 |
+4% |
|
May |
42.38 |
49.80 |
+18% |
|
June |
45.97 |
51.85 |
+13% |
|
July |
45.75 |
49.35 |
+8% |
|
August |
49.67 |
54.64 |
+10% |
|
September |
47.45 |
-- |
-- |
|
October |
47.66 |
-- |
-- |
|
November |
46.87 |
-- |
-- |
|
December |
50.51 |
-- |
-- |
Cash withdrawals from ATMs rose about 0.5% YoY to nearly SAR 46.4 billion in August.
These withdrawals were processed from 16,100 ATMs through 129.1 million transactions.
|
ATM Withdrawals (SAR bln) |
|||
|
Month |
2022 |
2023 |
Change |
|
January |
45.82 |
45.15 |
(1%) |
|
February |
41.67 |
41.74 |
+0.2% |
|
March |
52.83 |
51.70 |
(2%) |
|
April |
47.58 |
47.32 |
(1%) |
|
May |
41.73 |
44.93 |
+8% |
|
June |
47.21 |
50.17 |
+6% |
|
July |
46.99 |
42.38 |
(10%) |
|
August |
46.17 |
46.40 |
+0.5% |
|
September |
45.38 |
-- |
-- |
|
October |
46.78 |
-- |
-- |
|
November |
45.19 |
-- |
-- |
|
December |
47.40 |
-- |
-- |
E-commerce sales through Mada cards increased 27% YoY to SAR 14.4 billion in August, marking the highest-ever sales value.
According to SAMA's monthly bulletin, these sales were made through 76.3 million transactions.
E-commerce sales include Mada card payment and purchase transactions through shopping websites and online applications, but do not include transactions made through Visa, MasterCard and other credit cards.
|
Sales Through Mada Cards (SAR bln) |
|||
|
Period |
2022 |
2023 |
Change |
|
January |
8.23 |
11.71 |
+42% |
|
February |
8.02 |
11.32 |
+41% |
|
March |
9.98 |
13.50 |
+35% |
|
April |
10.26 |
12.63 |
+23% |
|
May |
9.12 |
12.71 |
+39% |
|
June |
10.40 |
13.39 |
+29% |
|
July |
10.23 |
12.90 |
+26% |
|
August |
11.28 |
14.38 |
+27% |
|
September |
11.16 |
-- |
-- |
|
October |
10.90 |
-- |
-- |
|
November |
11.22 |
-- |
-- |
|
December |
11.86 |
-- |
-- |
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