The point-of-sale (POS) transactions increased by 27% to SAR 9.19 billion in the week ending June 27, 2020, from SAR 7.26 billion in the previous week, data issued by the Saudi Arabian Monetary Authority (SAMA) showed.
Data showed that a total of 53.8 million transactions were processed in the week ending June 27.
POS transactions increased significantly upon lifting the lockdown to exceed pre-COVID-19 levels, due to the planned value-added tax (VAT) increase, and the overwhelming turnout for valuable goods, stated Ahmed Alkholifey, governor of the Saudi Arabian Monetary Authority (SAMA).
Saudi Arabia starts today increasing VAT from 5% to 15%.
|
Weekly POS Transactions |
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|
Week |
No. of Transactions (,000) |
Transactions’ Value (SAR mln) |
Variation in Value |
|
May 10 - 16 |
38132 |
6002.6 |
-- |
|
May 17- 23 |
41324 |
6491.3 |
+8% |
|
May 24 - 30 |
29082 |
3253.2 |
(50%) |
|
May 31 – June 6 |
50281 |
7854.4 |
+141% |
|
June 7 – June 13 |
48209 |
7295.8 |
(7%) |
|
June 14 – June 20 |
46704 |
7261.2 |
(0.5%) |
|
June 21 – June 27 |
53786 |
9191.3 |
+27% |
The POS sales of major sectors increased during the week ending June 27, topped by the clothes and footwear sector with 55%, followed by the jewelry sector with 51% and furniture at 44%.
|
POS Transactions by Sector in week ending June 27, 2020 (SAR mln) |
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|
Sector |
Transactions’ value Ending June 20 |
Transactions’ value Ending June 27 |
Weekly Variation |
|
Clothes and footwear |
392.91 |
608.09 |
+54.8% |
|
Jewelry |
373.35 |
564.10 |
+51.1% |
|
Furniture |
417.10 |
599.44 |
+43.7% |
|
Hotels |
51.28 |
73.17 |
+42.7% |
|
Education |
55.62 |
76.80 |
+38.1% |
|
Restaurants & Cafes |
534.43 |
716.33 |
+34.0% |
|
Recreation & Culture |
227.96 |
294.91 |
+29.4% |
|
Miscellaneous goods & services |
525.96 |
677.00 |
+28.7% |
|
Electronics and electric appliances |
455.69 |
571.25 |
+25.4% |
|
Public Utilities |
78.60 |
98.13 |
+24.8% |
|
Telecommunications |
63.49 |
79.08 |
+24.6% |
|
Construction materials |
642.62 |
794.85 |
+23.7% |
|
Fuel stations |
137.34 |
169.19 |
+23.2% |
|
Transport |
568.47 |
691.23 |
+21.6% |
|
Healthcare |
559.15 |
631.89 |
+13.0% |
|
Food & Beverages |
1132.53 |
1228.89 |
+8.5% |
|
Other |
1044.77 |
1317.01 |
+26.1% |
|
Total |
7261.24 |
9191.35 |
+26.6% |
Consumer spending focused on food & beverages sector in the week ending June 27, valued at nearly SAR 1.23 billion, followed by the construction materials and restaurants & cafes sectors with SAR 794.9 million and SAR 716.3 million, respectively.
Riyadh topped the POS transactions by cities with SAR 2.81 billion, representing 31% of the total sales, followed by Jeddah with nearly SAR 1.5 billion.
|
POS Transactions by Cities in week ending June 27, 2020 (SAR mln) |
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|
City |
Transactions’ value Ending June 20 |
Transactions’ value Ending June 27 |
Weekly Variation |
|
Riyadh |
2178.5 |
2808.2 |
+28.9% |
|
Jeddah |
1004.9 |
1489.7 |
+48.2% |
|
Dammam |
458.4 |
546.7 |
+19.3% |
|
Madinah |
274.3 |
337.6 |
+23.1% |
|
Al Khobar |
265.0 |
330.6 |
+24.8% |
|
Buraydah |
223.2 |
274.5 |
+23.0% |
|
Makkah |
187.7 |
242.1 |
+29.0% |
|
Tabuk |
131.2 |
158.1 |
+20.5% |
|
Hail |
129.6 |
157.8 |
+21.8% |
|
Abha |
121.9 |
144.2 |
+18.3% |
|
Other cities |
2286.6 |
2701.8 |
+18.2% |
|
Total |
7261.2 |
9191.35 |
+26.6% |
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