(MENAFN- Muscat Daily) Fifty-three per cent of consumers in Oman plan to spend more on luxury goods and experiences in 2015 - more than any other country in the region finds a survey.
The American Express Middle East Spending Survey found that 50 per cent consumers in the country prioritise high-end electronics placing Oman at the top when it comes to spending on gadgets. 'Consumers in Oman also place a high priority on art and collectibles with 17 per cent choosing this as their number one priority - significantly ahead of any other country and higher than the regional average of just five per cent.'
According to the survey 53 per cent of luxury spenders in Oman plan to spend more on such goods and experiences in 2015. This compares to a regional average of 31 per cent and places Oman ahead of all other countries in the survey.
The survey was conducted by YouGov across the MENA region and found that overall regional spending on luxury experiences such as social events and holidays outweighed spending on goods such as watches and cars. 'Oman was one of just two countries where respondents stated that spending on goods is more important than experiences.'
Commenting on the findings Mazin Khoury CEO American Express Middle East said '2015 is set to witness robust spending on both luxury services and goods both in Oman and across the wider region. In Oman we've also noticed that while goods still occupy the majority of luxury spending it's a very narrow margin and one which is set to get narrower in the years ahead as consumers in Oman increasingly value the special experience and personal fulfilment that comes with luxury experiences.'
Although consumers in Oman are not prioritising luxury experiences over goods in the same way as those across the region there is still considerable spending on those moments which create life-long memories. 'In common with the rest of the region the top luxury experience for consumers in Oman is luxury social calendar events.'
Consumers in Oman overwhelmingly chose Dubai as their preferred place to shop in the MENA region with 77 per cent picking the city as their number one destination well ahead of the regional average of 68 per cent. 'In addition 77 per cent of consumers in Oman prefer making luxury purchases in-store rather than online. The main reason cited by respondents is that they use the opportunity to physically examine the goods and check the quality an important consideration in the purchase of luxury goods.'
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.