Saudi consumer

Saudi Card Data: Jewellery Spending Up 25%, Apparel Down 10%

Central-bank point-of-sale data for the week to 5 September show spending flat at SAR 15.8bn on 267.8 million transactions (+4.8%). Clothing and footwear fell 9.6 percent to SAR 1.28bn as back-to-school demand normalised; jewellery was the strongest category, up 25.4 percent to SAR 346m. Read-through: in the kingdom that supplies the largest share of Gulf drive-in visitors, hard luxury is carrying discretionary spend while fashion softens.

Sources: Arab News, 12 Sep · Arab News, 12 Sep