How is the retailing activity going on since the beginning of 2009, when compared to the same period in 2008?

Retailing activity has been a mixed bag in the first half of the year with consumer spending being low in large appliances namely airconditioners, refrigerators and washing machines vis-a-vis 2008. We have seen a spurt in sales of these products in the last couple of months though. This could be attributed to a late summer and the severity hitting only towards the end of May.
The growth engines are LCD TVs and Laptops which have continued the fast track growth

Has the global meltdown affected retailing in Oman?

Not in the true sense of the word. However the sentiments amongst the consumers are
not really buoyant. We feel that lifestyle products are now low on the priority list with the middle class consumers, who would prefer to adopt a wait and watch policy with respect to their spending for such products. This however does not seem to apply to the upper strata of the consumers who continue to spend money on lifestyle products.

What strategies have you implemented
to cope with the recession?

During such times the consumers look to save every penny and we are doing our bit by negotiating with our suppliers to offer them better prices for the products they seek. We
have built in efficiencies within our systems to ensure that the health of our organization remains intact. The measures that we have taken have yielded desired results so far.

Is the second half of 2009, going to be better than the first half, in terms of business? What is your view?

Traditionally the first half has always been better than the second half and we don’t expect this year to be any different. But if the global cues show an improvement we may be in for a very good the forth quarter.

Do you expect the forthcoming festive occasions to have a positive
impact on retailing activity?

We would definitely be running promotions to lure customers to our
outlets and we are optimistic that consumer spending would improve. The festival season will be a good indicator about things to come at least for the short term.