Haider Jawad Sultan, Managing
Director of Capital Store LLC, the leading
lifestyle and luxury upmarket retail
chain speaks to Oman Vistas about retailing
in 2009. Excerpts:
How is the retailing activity as compared
to 2008?
Capital Store is an established Luxury
Retail Store for over two decades. We
have earned the reputation of carrying
quality products along with the best
service possible.
We have loyal clients who have great
confidence in us and the brands we
sell. Secondly, a majority of them are
Omani Nationals. We have loyal corporate
clients too. Therefore fortunately
the current global economic crisis has
not affected our retail business at all.
We are offering attractive schemes
for the customers. Some products
are being offered at special prices. We
are offering very qualitative gifts with
purchase as well. We are constantly rebuilding
our customer’s confidence in
our stores and products.
Do you think the global meltdown
has affected retailing in Oman?
Certain sectors may have faced significant
downturn. Secondly, the new retail
stores and the smaller retailers are
affected largely by the global issue.
Is the second half looking better
than the first half of 2009?
Since the oil prices are more stable as
compared to the first half, I am confident
that this will have a positive impact
on customer spending as well.
Moreover the fear psychosis is being
washed out now gradually . I feel thatthe situation
became more
aggravated as
it affected us psychologically. Many
feared that they would lose their jobs,
and the business community feared
that there would be a sharp decline;
however, I don’t think that has been
the case in many countries including
Oman. Now all of us are more confident
than what we were earlier.
Do you expect the forthcoming
festive season to have a positive
impact on sales?
Yes, festivals always bring joy and
happiness to all of us. They unite the
families and re-bond relationships.
All of us forget our problems. The festive
season will therefore definitely
have a positive impact on business
across all segments.
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