Saudi POS sales down 33% in April

POS transactions dropped by 34.7% in April

  
An employee counts Saudi Riyals bills at a money exchange office in central Cairo, Egypt, March 20, 2019. Image for illustrative purposes.

An employee counts Saudi Riyals bills at a money exchange office in central Cairo, Egypt, March 20, 2019. Image for illustrative purposes.

REUTERS/Mohamed Abd El Ghany

Riyadh –  The value of transactions through points of sales (POS) in Saudi Arabia shrank by 33% in April 2020, reaching SAR 16.17 billion, compared with SAR 24.13 billion in the same period in 2019.

Month-on-month (MoM), POS transactions went down by 34.7% when compared to SAR 24.8 billion registered in the previous month, as shown by the data of the Saudi Arabian Monetary Authority (SAMA).

Year-on-year (YoY), the number of transactions through POS inched up by 0.25% during April to stand at 121.83 million when compared to 121.526 million.

In the meantime, the number of POS devices grew by 0.28% YoY to reach nearly 486,151 in April, compared to about 379,798.

Food and beverage dominated the highest value in POS transactions with SAR 6.44 billion, almost doubling from SAR 3.23 billion.

Across the kingdom, Riyadh came in the first place in terms of spending with SAR 4.14 billion from SAR 8.2 billion.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2020 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Business