Jewelry Sales Surge in Saudi Arabia as Overall Weekly Spending Declines Slightly

Jewelry purchases in Saudi Arabia soared to SR320.7 million ($85.4 million) between April 20 and 26, recording an 18.2 percent weekly increase, according to new data released by the Saudi Central Bank. The sector was among the few to show significant growth, despite an overall dip in consumer spending.

The bank’s weekly point-of-sale (POS) transactions bulletin reported a 0.8 percent decline in total spending, which dropped to SR11.3 billion. The number of transactions also fell by 1.1 percent to 199.7 million across all categories.

Following jewelry, electronics and electronic devices saw the second-highest spending increase, rising 3.5 percent to SR152.7 million. Transactions in this segment rose slightly by 0.8 percent, totaling 1 million. Food and beverage purchases also edged up 0.6 percent, reaching SR1.65 billion — the largest share of total weekly spending.

However, several sectors recorded notable declines. Education spending saw the sharpest drop, down 17.5 percent to SR137.2 million. Hotel expenditures followed with a 13.7 percent fall to SR254.6 million. Restaurants and cafés also declined by 2.1 percent to SR1.64 billion, despite maintaining the second-largest share of POS value.

Miscellaneous goods and services fell by 2.7 percent to SR1.34 billion, while recreation and culture spending decreased 7.4 percent to SR210.4 million. Furniture purchases slipped 1.3 percent to SR224.9 million. The clothing and footwear sector saw only a marginal decline of 0.1 percent, with sales totaling SR607 million and 4.6 million transactions, down 1.9 percent.

The top three spending categories — food and beverages, restaurants and cafés, and miscellaneous goods — collectively accounted for SR4.6 billion, representing around 40.8 percent of the week’s total POS value.

Regionally, Riyadh led the nation in both spending and transaction volume. Consumer expenditure in the capital stood at SR4.1 billion, showing a slight 0.1 percent uptick. Riyadh also saw 65.8 million transactions, maintaining its dominant share.

Jeddah followed with SR1.7 billion in spending, down 0.5 percent, while Dammam recorded a 1.7 percent increase to SR602.5 million. Madinah and Makkah saw the most significant spending declines, dropping 7.7 percent and 5.7 percent respectively.

Among all Saudi cities, only Riyadh, Dammam, and Alkhobar saw a rise in the number of transactions, signaling localized pockets of consumer activity despite broader national contraction.