The Oman market is a country that attracts a lot of interest from world investors and businesses, especially America. Even though this country already has an adequate combination of infrastructure and technology, Oman market trends related to online shopping via e-commerce require further stimulation.
Because of active consumer behavior toward online shopping, the financial projection for tomorrow can run even better. To check current trends and prospective projections regarding e-commerce, let’s discuss it more fully in the following article!
E-Commerce Industry Analysis
Currently, there are 5.1 million residents in Oman. More than 75% of the inhabitants have been exposed to the internet. Even though internet penetration is high, the total number of online shoppers is now only around 8%.[1]
Out of the entirety of online shopping, a quarter of the people shop through international sites. Meanwhile, the local e-commerce demand is only around 1%. Therefore, this industry remains relatively new with a promising economic forecast, considering the overall population and past level of market penetration.
To make these prospects happen, the country facilitates this shift in shopping behavior through the Information Technology Authority (ITA), which provides e-government and digital society services.
These various benefits aim to transform people’s perspective so they can quickly switch to online shopping through online shops.
Trends and Future Projections in Omani E-Commerce
Even though the percentage of consumers who shop online is still low among Omani MSMEs and entrepreneurs, there is a trend to increase promotion and sales of products online.
So, several trends as well as future projections that can encourage Oman’s e-commerce are:
1. Increase in Internet Penetration
Oman has a high internet connection, a 4G range, and high portable broadband. This is one of the results of actions to develop IT infrastructure from the personal sector and government.
The introduction of 4G and 5G tech may also contribute to the development and trends of e-commerce demand. Due to the small demand for e-commerce, Major vendors must endeavor to innovate to enhance future projections.
2. Expected Economic Growth to Boost the E-commerce Market
So that people’s purchasing power in e-commerce can continue to increase. The state strives to ensure that economic growth is always on a positive track. With increasing industrialization and urbanization, people will be interested in starting to switch to e-commerce.Because Oman market trends regarding e-commerce require enhancement, the government continues to make various efforts to initiate a shift in consumer behaviors.
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