Consumer spending rises 7% to SAR 1.32T in 2023

Consumer spending in Saudi Arabia grew by 7% to SAR 1.31 trillion in 2023 from nearly SAR 1.23 trillion a year earlier.

Consumer spending in Saudi Arabia represents total cash withdrawals, POS transactions, and e-commerce via Mada cards.

Total spending (ATM POS and MADA) (Billion SAR)

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POS transactions in Saudi Arabia saw a 10% year-on-year (YoY) rise to around SAR 614 billion in 2023.

Data showed that 8.97 billion transactions were processed through 1.74 million POS terminals during the same period.

POS transactions represent what is spent by consumers using their ATM cards and credit cards in shopping malls, retail stores, pharmacies, etc.

The table below indicates the development of POS transactions:

Cash withdrawals from ATMs declined by almost 1% YoY to roughly SAR 548.8 billion last year.

These withdrawals were processed through 16,000 ATMs in 1.52 billion transactions.

E-commerce sales through Mada cards climbed 28% YoY to SAR 156.9 billion in 2023.

The sales were made through 873.7 million transactions.

Online sales include Mada cards processes in payment and purchases through online shopping and online applications, but do not include processes carried out via Visa, Mastercard, or other credit cards.

E-Commerce using Mada cards-Sales (Billion SAR)

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