MUSCAT: COVID-19 has changed how we shop forever. Since the outbreak of the pandemic, and the resulting lockdowns and restrictions, consumer habits are longer same as they were before. It has altered not only the way we buy, but also how we buy it. These days, big purchases involve clicks, not shopping trips.

According to reports, online purchases have increased exponentially with global online sales reaching nearly $4.29 trillion last year. In fact, over 60% of global consumers have changed their shopping behaviors as they seek greater convenience and value. “I am closely witnessing that change in shopping behavior among consumers especially during Covid and post the pandemic,” says Tariq Al Barwani, founder of Oman’s biggest knowledge sharing platform — Knowledge Oman.

Interestingly, the global figures show 91% of people in India and 64% of people in South Korea have taken up new shopping behaviours since COVID-19, with over 60% of them intending to stick with their adopted behaviour. “I expect to see these new consumer habits continue to shape retail in the coming years,” Tariq says. Is the shift in consumer behaviour a threat to traditional retailers in Oman? “I do not see it to be a threat at least here in Oman where people still prefer taking their families out for a weekly shopping. This online boom is rather a source that can create additional revenue streams and we are already seeing that with many local retailers introducing digital platforms to sell their products,” he says. “Yesterday, consumers were only able to visit your station physically, today, they are able to do that and also electronically too be it website, app, social media engagement etc,” Tariq adds.

E-commerce boom in Oman
The online shopping trend have also created a wave of e-commerce boom in Oman. “In the last two years, we have seen new e-commerce firms and some top international companies entering Omani market. This shows that there is a huge potential for online business in the country,” says Christopher Mackenzie, a fintech expert based in Dubai.

Last month, Qatar’s leading tech start-up, Snoonu, announced its acquisition of Akeed, a leading Omani food delivery platform with a network of more than 1000 restaurants and grocery stores for a whopping $10 million.

“Our acquisition of Akeed was a decision made based on the company’s stellar reputation as one of the leading food delivery platforms in our sisterly Sultanate of Oman. Akeed’s wide network of restaurants and grocery stores will enable us to establish a solid foothold in the Omani market as our initial step towards an expanded regional presence and involvement,” says Hamad Mubarak Al-Hajri, CEO and cofounder of Snoonu.

According to Tariq, the acquisition of Akeed will motivate other Omani SMEs to replicate the success. “I see that as a great opportunity and motivation for other SMEs to replicate the success of an international/regional players approaching and acquiring established local players for quick wins that includes customers and users of the platform per se),” he adds.

To ride the wave of the e-commerce boom, retailers today need to incorporate the best digital tools and innovate in small steps.

With consumers shopping from their sofas and home offices, another trend flagged up by Christopher is a marked decline in brand loyalty. “It is more about convenience especially costs. These days people look for cost effective product than looking at a reputed brand. I can say costumer
loyalty has plummeted, with buyers switching brands at unprecedented rates,” he adds.