Retail
From The Report: Oman 2015
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The Omani retail sector has grown by 7% since 2011 and continues to expand, as large construction projects, predominantly malls and hypermarkets, look set to add more retail space to the sector. The rise in the number of shopping malls, currently numbering 16 in Muscat alone, has coincided with a shift in spending patterns as the population becomes wealthier, while an increasing number of high-net-worth individuals has led to the growth of luxury and fashion brands and the emergence of niche market concepts, such as smaller-scale, high-end retail centres. Although spending patterns have been shifting as lifestyles change, the Omani consumer price index shows that a large portion of household spending still goes towards food and related products, a trend reflected in the steady growth of hypermarkets, which now account for 70% of grocery sales. This chapter contains an interview with Dominic Myers, CEO, Enhance Operating Companies.

Articles from this Chapter

Overview

Retail space is expanding rapidly and solid growth looks set to continue
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Standing apart from markets in neighbouring GCC countries, the sultanate’s shoppers are regarded as being price-conscious and value-driven. Lower per capita incomes and a smaller number of high-income expatriates within the context of a more moderate economic development strategy have placed the sector on a unique trajectory in the region. While the market has been diversifying and growing rapidly over the past decade, the sector is still dominated by household expenditure on groceries and home…

Interview

Dominic Myers, CEO, Enhance Operating Companies: Interview
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Interview:Dominic Myers How does Oman’s regulatory environment compare with the rest of the region? What measures might be considered to enhance the framework? DOMINIC MYERS: As the fourth-largest employer of Omani nationals, the sales and distribution sector plays an important role in developing employment opportunities for the youth of Oman. For this to continue, there needs to be not only a healthy regulatory environment, but also leading companies that invest in recruitment, training…