RIYADH (Agencies): Consumer spending in Saudi Arabia surged to SR20 billion ($5.3 billion) in the week ending March 29, fueled largely by a pre-Eid shopping spree—particularly on clothing and footwear, which alone accounted for SR3.1 billion, according to fresh data from the Saudi Central Bank (SAMA).
This spike in point-of-sale (POS) transactions, driven by the lead-up to Eid Al-Fitr, was followed by a sharp 47.6% drop in spending, falling to SR10.5 billion in the subsequent week ending April 5, as the holiday rush tapered off.
Interestingly, while most sectors witnessed significant declines post-Eid, restaurants and cafes bucked the trend. Spending in this category rose 2.6% to SR2.23 billion, with the number of transactions surging by 12.4% to 56.1 million, making it the largest contributor to POS transactions during the week.
Other sectors faced steep declines. Education spending dropped the most, plunging 69.8% to just SR10.2 million, followed by a 68.5% decline in furniture purchases to SR141 million. Transportation also saw a sharp fall of 66.8% to SR322.8 million.
Spending on miscellaneous goods and services dropped by 58.9%, yet still held the third-largest share at SR1.12 billion. Meanwhile, telecommunications and construction declined by 47.8% and 51.6%, respectively. Expenditures on electronics and public utilities fell by nearly 48% each, while food and beverages saw a more modest decline of 36.2%, totaling SR1.64 billion, holding the second-largest share overall.
Together, the top three spending categories made up 47.5% of the week’s total, equaling around SR5 billion.
Geographically, Riyadh led all cities, accounting for 30.3% of national POS activity, despite a 49.9% decline in total spending to SR3.19 billion. Jeddah followed with SR1.4 billion, down 49.7%, while Madinah came third at SR516.5 million, marking a 44.7% decrease.
Makkah recorded the most significant decline in both value and transaction volume, with a 57.7% dip in spending to SR515.6 million, and a 35.7% drop in transactions to 8.1 million. Tabuk saw the second-largest decrease in transactions, falling 26.1% to 3.5 million.
The data highlights the impact of seasonal consumer behavior in the Kingdom, with spending patterns peaking ahead of major religious holidays and dropping sharply thereafter.