(Maaal): Consumer Spending in Saudi Arabia Hits SAR 656.5 Billion in 5 Months, E-commerce Purchases Jump 59%

A monitoring by (Maaal) revealed that consumer spending in Saudi Arabia reached approximately SAR 656.5 billion during the first five months of this year, a 6.1% increase compared to the same period last year. This indicates the continued strength of the Saudi economy, as domestic demand and thriving markets constitute the primary driving force for growth in the non-oil sector, which is driving the Saudi economy in the post-launch era of Vision 2030 and the decoupling of oil price developments from GDP growth.

According to the monitoring, which relied on data from the Saudi Central Bank’s (SAMA) monthly bulletin, consumer spending growth rates in the Kingdom remain at high levels for the fifth consecutive year, having recorded a 7.5% growth rate in 2024, the highest rate in the last two years. This growth rate is supported by increased e-commerce purchases and a significant increase in spending on restaurants and cafes. Data indicates that e-commerce purchases via Mada cards saw a significant jump during the first five months of this year, reaching approximately 120 billion riyals, a 59% increase compared to the same period last year, which recorded approximately 75.5 billion riyals. This indicates the increasing pace of the shift towards e-commerce in the Kingdom, in line with the significant digital transformation of many services and stores in the Kingdom.

According to the bulletin’s data, consumer purchases in Saudi Arabia represent the sum of cash withdrawals, point-of-sale (POS) sales, and e-commerce sales via Mada. POS sales accounted for approximately 45% of consumer purchases in Saudi Arabia during the first five months of this year, valued at approximately 293.5 billion riyals. Cash withdrawals accounted for approximately 37% of purchases, valued at 243.3 billion riyals. Meanwhile, e-commerce purchases via Mada cards accounted for approximately 18% of Saudi purchases, valued at approximately 120 billion riyals. Monitoring data shows that the food and beverages sector leads consumer spending via points of sale (POS), accounting for 15% of total spending during the first five months of this year, at a value of SAR 43.6 billion, roughly the same as the same period last year. The restaurants and cafes sector followed, accounting for 15% of consumer spending, at an estimated value of SAR 40.1 billion, a 2% increase over the same period last year. The miscellaneous goods and services sector came in third place, accounting for 12% of consumer spending via POS during the first five months of this year, at a value of SAR 36 billion, an 8% increase over the same period last year. The clothing and footwear sector followed, accounting for 8% of consumer spending, at a value of SAR 22.2 billion, an 8% growth rate over the same period last year.