Saudi Consumer Spending Holds Above $3 Billion Despite October Slowdown

Saudi Arabia’s consumer spending remained resilient in October, with point-of-sale (POS) transactions surpassing the $3 billion mark for the fourth consecutive week, even as overall expenditure showed signs of moderation.

According to the latest figures from the Saudi Central Bank (SAMA), total POS spending reached SR11.69 billion ($3.12 billion) during the week ending October 25, marking a 4.2 percent decline from SR12.21 billion recorded the previous week. The number of individual transactions also fell 4.5 percent, totaling 212.7 million compared to 222.7 million a week earlier.

The data revealed mixed trends across spending categories. Laundry services saw the sharpest drop, down 10.3 percent to SR42.58 million, while jewelry purchases fell 9.1 percent to SR390.69 million. Meanwhile, the airline sector posted the strongest growth, with spending surging 18.5 percent to SR57.88 million. Freight transport and courier services followed, rising 5.6 percent to SR33.63 million.

Spending on daily essentials and dining also weakened. Transactions at restaurants and cafes declined 4.7 percent to SR1.45 billion, while food and beverage purchases fell 6.6 percent to SR1.79 billion. Apparel and accessories spending slipped 3.2 percent to SR852.42 million, and construction materials saw a 2.8 percent drop to SR384.69 million.

Major cities reflected the national slowdown. Riyadh, which accounted for the largest share of POS activity, saw spending ease 2.4 percent to SR4.28 billion from SR4.38 billion the week before. The capital also recorded a decline in transactions, which totaled 71.8 million. In Jeddah, transaction values fell 4.9 percent to SR1.61 billion, while Dammam saw a 4.7 percent contraction to SR590.63 million. Consumer activity also moderated in Makkah and Madinah, down 3.4 percent and 3.2 percent, respectively.

Despite the weekly dip, the continued strength in transaction volumes highlights sustained consumer confidence and the widespread use of digital payments across the Kingdom. SAMA’s weekly POS data serves as a key indicator of consumer trends and the rapid expansion of electronic payment infrastructure beyond major retail centers.

The steady adoption of cashless payment methods supports Saudi Arabia’s Vision 2030 goals, which aim to foster a digital economy and reduce reliance on cash. The Kingdom’s growing POS network and technological innovation continue to advance financial inclusion and modernize everyday spending behavior nationwide.