Mada cards<\/a> has constituted about 11.2 per cent of the total spending during the month, with SR13.5 billion, which is considered the highest monthly spending.<\/span><\/p>\nThe POS sales have also posted strong growth during March 2023 by around 8.7 per cent on an annual basis, also reaching a record level of SR55.41 billion. Meanwhile, the cash withdrawals declined by about 2.1 per cent to SR51.7 billion.<\/span><\/p>\nCompared to the month of February 2023, the spending has grown by about 23.3 per cent with an increase of SR22.8 billion, after the spending at that time recorded approximately SR97.85 billion.<\/span><\/p>\nIn the clothes and shoes sector, the spending value amounted to SR4.69 billion, and around SR1.01 billion over the jewellery sector, while the POS sales of the entertainment and culture sector exceeded SR1.3 billion.<\/span><\/p>\nAs for the quarterly basis, the spending has grown during the Q1 of 2023 by about 6.5 per cent compared to the same period last year, with a spending value of SR323.65 billion through the POS transactions and cash withdrawals, in addition to the e-commerce via Mada cards with an increase of SR19.76 billion.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"Consumer spending in Saudi Arabia during March 2023 has recorded a six per cent growth after reaching SR120.6 billion, compared to about SR113.8 billion in the same month of the previous year, according to Al-Eqtisadiah<\/p>\n","protected":false},"author":40,"featured_media":21883,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[154,1],"tags":[3637,2683],"_links":{"self":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/22817"}],"collection":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/comments?post=22817"}],"version-history":[{"count":3,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/22817\/revisions"}],"predecessor-version":[{"id":22821,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/22817\/revisions\/22821"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/media\/21883"}],"wp:attachment":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/media?parent=22817"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/categories?post=22817"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/tags?post=22817"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}