Sales of electronics in Indonesia in the second quarter of 2017 are expected to have remained stuck at the same level as in the first quarter amid bleak demand. Ali Soebroto, Chairman of the Indonesian Electronics Industries Association (Gabel), said domestic sales growth of electronics has not risen significantly in Q2-2017 and, in fact, is far from the target. Soebroto attributed these weak electronic sales to people's preference to purchase goods that are related to the fasting month (Ramadan) such as food products or clothes.
11 October 2019 (closed)
USD/IDR (14,139) -18.00 -0.13%
EUR/IDR (15,578) +16.98 +0.11%
Jakarta Composite Index (6,105.80) +82.16 +1.36%
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In 2016 Indonesia was the third-largest Asian country in terms of modern retail sales growth after India and China. Last year Indonesia's modern retail sales expanded 10 percent to IDR 200 trillion (approx. USD $15 billion). Roy Nicholas Mandey, Chairman of the Indonesian Retailers Association (Aprindo), said Indonesia remains an attractive country for retailers due to the enormous size of the population. Moreover, due to economic growth this population constitutes a strengthening consumer force. Lastly, Indonesians are known as people who are eager to try and buy new products.
Both Indonesia's processed food and beverage industry and modern retail sectors are considered to have great potential for the next three years due to Indonesia's huge domestic market, expanding middle class as well as sharply rising Internet and smartphone penetration (giving rise to a rapidly developing e-commerce industry). Meanwhile, accelerated economic growth and low inflation are the right recipe to boost people's purchasing power, hence boosting sales.
The latest survey of Bank Indonesia shows that consumer confidence in Indonesia has fallen in June 2015 on fears of shrinking job availability as well as declining income and business activity. Last month, the central bank’s Consumer Confidence Index fell 1.5 points to 111.3. This year so far, Indonesian consumer confidence only rose in May. In other months the index fell. Bank Indonesia’s Consumer Confidence Index is based on samples of 4,600 households in 18 major cities in Indonesia (100 separates optimism from pessimism).
Indonesian Trade Minister Rachmat Gobel confirmed that the ban on sales of alcohol in minimarkets and kiosks will continue after 16 April 2015. This ban, stipulated by Minister of Trade Regulation No. 06/M-DAG/PER/1/2015 on the Control and Supervision of Procurement, Distribution, and Sale of Alcoholic Beverages (which was signed by the minister on 16 January 2015), prohibits the sale of beverages with an alcohol content ranging between 1 to 5 percent (referred to as type A alcoholic drinks) in minimarkets and kiosks.
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Indonesian retail sales surged 14 percent in November 2013 from one year earlier (the highest growth rate since July 2013). On a month-to-month basis, Indonesia's retail sales increased 1.5 percent from October 2013. These findings were the result of a survey conducted by the central bank of Indonesia (Bank Indonesia), which surveyed 650 retailers in 10 Indonesian cities. The bank's survey also indicated that Indonesian retailers may increase prices of their products in 2014 in order to compensate for the depreciating rupiah exchange rate.
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