The article is carried out to provide analytical insight for managers who are considering internationalisation or new entrepreneurs who want an insight into Fashion/Apparel industry of the Middle East. Furthermore, itis more focused on gaining insights on fashion market purely aligned for Muslim Women. The analysis has provided an overview of consumer behaviour within middle east localise and provide tailored clothing requirements.
Introduction to Fashion/Apparel Industry Oman and Muscat (Middle East)
There is an opportunity for Entrepreneurs and Internationalising businesses to sell their products via opening an outlet or retailing store in Oman, Muscat. The success is embedded in online channel, the study shows online entry will facilitate marketing testing and gradually leading to opening a physical store. There is a strong recommendation to link stores with Augmented Reality features to facilitate online users. Online testing arena is a moral boost to complete the brick and motor business model successfully. The data can be leveraged for creation of better future. The cost-effective models provide businesses the requisites sustainable competitive advantage. A Business can no longer sustain a market without being cost effective.
Current Industry Source of Competitive Advantage
The external factors within Middle East especially Muscat and Oman provide variety of opportunities that helps in achieving competitive advantage. There is availability of competent and skilled human resource who can facilitate entrepreneurs and international brands in penetrating the local market. Many scholars have provide emphasis on the composition of team hence it is highly recommended to hire from local market. Similarly, local designers have the fashion sense for its customers to enhance their personality beyond measures, if forged into a brand company can converge the fashion/apparel market in to blue ocean and sail the competition. Nevertheless, product line is also one of the significant contributors towards maintaining sustainable approach with in the industry. Additionally, if a company can ensure sustainable sourcing within its supply chain would be able to better integrate within community and penetrate.
Investment Requirements
The initial investment on the business includes 50,000 Oman dinnar. The financial prospects for the growth of Fashion Business are vary robust and products are bound to succeed. Risk management plan provides assurance for finances to remain within control. The business can use cost effective strategies and maintain a strong competitive advantage within the industry.
PESTLE Analysis
Political (Legal) Aspects
Middle East has established political dimension with strong international integration. The companies are expected to obeys every rules and regulations, which have been developed by Political and legal parties i.e. government for ensuring themselves as authorised and legal business company. Tax policies, employment laws, business, Laws, political stability, environment regulations and trade and traffic restrictions are considered and will be obeyed.
Economic Aspects
Middle East primarily UAE, Muscat, Oman are considered top ranking locations for business investments. its GDP is rising at a steady rate of 13% annually. However, the growth dwindled by 2.3% in April 2020 due to corona virus pandemic and it has been forecasted that by 2021 the growth with experience rise by 3% hence, the statistics for Oman remain critically supportive. Economic aspects play imperative role in the success of the company, which is why business have to pay enough attention to economic stability. For ensuring the success of the company, economic stability of the country is also an important factor.
The apparel and fashion industry can cover manufacturing and service industry alike and both sector seem to add significant value in the whole country value mix. The business aspiring within Oman would leverage rising income per capita and would be able to create a very profitable niche within Oman. The individuals want to be valued and they would definitely require personalised attention to detail for their particular needs.
Socio-cultural Sector
Socio culture aspects include inhabitant’s growth ratio, age distribution, career attributes, consumer behaviour, religious beliefs and cultural aspects. Businesses within Oman and Muscat will emphasise and pay attention to all socio cultural aspects of the country specially those aspects that operate in global arena. They significantly impact on growth and success of thee business. In addition, through following socio cultural aspects, Business will gain good reputation and effective public image. For businesses in Fashion Industry that operates worldwide, it is essential to identify and understand the needs and cultures of different people that belong to different cultures. Online business will also follow all socio cultural aspects in order to achieve competitive advantage.
Technological Aspects
Technological aspects are also significantly imperative aspects, which contribute in success of the company. Advanced technology integration is necessary for achieving high effectiveness and efficiency of the company. During Covid-19 being technologicall advanced helps the company in achieving competitiveness. Innovation and creativity are Linked aspects, which get enhanced through integration of advanced technologies. Businesses effectively adopts advanced technologies for Distribution and communication channels for meeting technological competitiveness.
