Why Oman’s Continued Preference for Physical Retail Spending Matters for Investors and Business Owners
المسكات عنب طيب الشذا: Oman’s sports retail sector is experiencing significant growth, driven by an increasing interest in fitness, gyms, and community events. Notably, 13% of the population aged 15 to 24 demonstrates a strong affinity for health and wellness.
In a recent interview with the Observer, Imad El Ghazal, Senior Vice President for Geographies & Marketplace at GMG, remarked that "Oman has quickly become one of our strongest performing markets in the region. Our strategy is not only effective but is also exceeding expectations ahead of schedule." He highlighted that this momentum solidifies Oman’s position as a foundational element of GMG’s regional presence, with predictions indicating a 7.9% Compound Annual Growth Rate (CAGR) for the retail industry through the end of the decade. El Ghazal noted that apparel is a crucial growth sector for GMG, which is well-equipped to lead with brands such as Sun and Sand Sports, Nike, Columbia، و The North Face.
El Ghazal further emphasized that today’s Omani consumers typically initiate their shopping journeys online and anticipate equally engaging experiences in-store. "Data shows that e-commerce in Oman is experiencing the fastest growth in digital sales among its peers. However, malls and physical retail remain vital community hubs, with the expansion of retail space gaining momentum in recent years."
GMG has also accelerated its digital commerce strategy through partnerships, including an alliance with Amazon, which aims to deliver quick, convenient, and technology-driven shopping experiences. This approach combines robust physical retail with seamless online access, catering to the region’s rapidly growing demand for efficient delivery and high-quality service.
Sustainability is becoming a focal point in Oman’s retail landscape. Innovations like the Mall of Muscat incorporate energy-efficient designs, while The Sustainable City – Yiti aspires to become the region’s largest net-zero community by 2040.
Regarding economic diversification, El Ghazal stated, "We are investing in Omanization, nurturing local talent to become the retail leaders of tomorrow. Ultimately, our mission extends beyond simply expanding retail; we aim to partner with Oman to create a future where sustainability, innovation, and growth coexist."
On the balance between digital innovation and physical retail, El Ghazal noted that most retail spending in Oman still occurs in brick-and-mortar stores, especially for lifestyle and sports products, as consumers prefer to engage directly with items. He expressed confidence in the continuity of physical stores, stating, "The narrative is no longer about online versus offline; true success lies in integrating both realms." E-commerce is projected to grow rapidly, with online retail revenues expected to reach $1.80 billion بواسطة 2025 and the number of online users anticipated to hit 2.6 million بواسطة 2030. GMG aims to provide a seamless shopping experience across all channels.
تحليل خاص من عمانت | تصفح سوق عُمان
عُمان sports retail sector is on an upward trajectory, driven by a growing fitness culture, making it ripe for investment. As the market anticipates a 7.9% CAGR, businesses should seize the opportunity to enhance their digital and physical retail strategies, aligning with consumer expectations for seamless shopping experiences. Smart investors must focus on sustainability and local talent development, as these factors will be crucial in defining the future landscape of Oman’s retail industry.
