Oman Vision 2040 Implementation Follow-up Unit plans ‘mega sales’ similar to US’s Black Friday and China’s Singles’ Day
Similar to global discount events such as Black Friday in the US and Singles’ Day in China, Oman will soon have ‘mega sales’ aiming to encourage and bolster such promotional activities.
‘The initiative aims to influence consumer behaviour in Oman by localising spending and enhancing the percentage of sales of brands and the number of visitors and tourists going to shopping centres in Oman. Malls and entities with multiple retailers can apply for one licence, allowing all of the stores operating in the mall to conduct sales at the same time,’ stated the Economic Diversification Report 2020 of the Oman Vision 2040 Implementation Follow-up Unit.
‘This enables the retail sector to conduct, for example, ‘Black Friday’ like mega sales at their own discretion, but to be capped at one time per year.’
Black Friday is a colloquial term for the Friday following Thanksgiving Day in the United States when many stores offer highly promoted sales on products ranging from fashion to electronics making it the ideal day to get the best bargains.
In China, Singles’ Day is a holiday celebrated on November 11 commemorating unmarried people when they treat themselves to gifts and presents. The event has become the largest online shopping day in the world.
Economy and market experts have observed that even though Oman has been host to many global multinational stores since long, ‘mega sales’ will present a win-win situation for retailers and consumers.
Khalfan al Tauqi, business and economic consultant, welcomed the initiative describing it as much needed in Oman. “Such an initiative will promote Oman among other Gulf states and I am sure that many people would come. Events like these need to be planned in a big way to attract many and everyone should be involved,” he said.
Tauqi, however, believes one day is not enough for such an event in Oman. “The sultanate is different from other countries. We need at least three days, which will also allow people to come from the interiors of the country to visit the different malls in Muscat. Such promotional sales events should also include hotels and travel tickets to attract people from all walks of life.”
According to the Economic Diversification Report 2020, the initiative was added to Oman Vision 2040 Implementation Follow-up Unit’s plan in 2020. ‘It aims to enable the implementation of major discount campaigns for a period of three days (November) coinciding with the global discount initiative by major brands during the same period,’ a statement said.
According to Muscat-based Lateef Shahdad, fellow and chartered marketer – Chartered Institute of Marketing, UK, events like Black Friday will boost and diversify the economy to match the objectives of Oman Vision 2040. “It will also create a new shopping experience in Oman while lifting the economy.”
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