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A customer chooses groceries at a new Hero supermarket branch in Bekasi, West Java recently. (JP/Ni Nyoman Weera)
Retail Business In Indonesia
Major stores seem to be starting 2019 with a bleak outlook after closing some outlets in the first month of the year.
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Analysts see this as a sign that giant retailers can no longer afford to compete with a growing number of smaller stores.
Hero Supermarket spokesman Tony Mampuc announced that the publicly traded retailer has closed 26 of its stores and will lay off 532 employees from its grocery business segment as part of efficiency gains driven by last year’s declining sales.
“The company is currently facing challenges, especially in the food business segment,” he said in a statement received by
Shoe boxes on the floor of a Matahari store at Taman Anggrek Mall, West Jakarta on November 21, 2017, as shoppers fill the store before it closes on December 3, 2017. (Tempo/Vindri Florentin)
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From the third quarter of last year, Hero recorded a 1.13% year-on-year decline to Rs 9.85 trillion ($698.26 million) due to a downturn in its food business, whose sales fell 6% year-over-year. . the same period, Tony added.
This decline caused an operating loss of Rs 163 billion for the period January to September last year compared to a loss of Rs 79 billion recorded in the same period in 2017.
Overall, however, the company still recorded a profit growth of 22.41% year-over-year to Rs 86.18 billion, Tony said, adding that Hero’s non-food business continues to show strong growth.
Some attribute the slower product sales to the 2016 Tetra Pak Index study, which found that 1.2% of shoppers in Jakarta buy groceries online. This number is expected to increase to 5.4 percent of consumers by 2030.
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However, Mohammad Faisal, head of research at the Indonesian Economic Reform Center, believes that the online food shopping trend may not hit retailers like Giant and Hero too hard, as the e-commerce industry only accounts for about 3 percent of the market in the country.
“Instead, Hero’s decision to close 26 stores is a reflection of a change in shopper behavior,” he said, adding that the rise of mini-markets across the country like Indomaret and Alfamart has encouraged shoppers to buy fast-selling consumer products like toothpaste. and food. , in the smallest stores that are located next to their homes.
People line up outside a Lotus department store in Jakarta October 25 to buy discounted items after PT Mitra Adiperkasa announced plans to close three outlets. (tempo.co/ Rulli Kesuma)
Another victim of this trend is PT Central Retail Indonesia, operator of the Central Department Store, which announced on Monday that it will permanently close its store at the Neo Soho Mall in West Jakarta on February 18. As a result, only the local flagship in Greater Indonesia, Central Jakarta, will remain in the Thai store.
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“Employees who were hired directly by PT Central Retail Indonesia will be transferred, and those who are hired by our suppliers will simply return to them,” he said.
While Hero and Central were the first companies to announce store closures this year, the trend began in 2017 when the household spending rate in Indonesia dropped to 4.95% from 5.01% in 2016.
The slowdown forced many retailers, such as listed PT Modern Indonesia, which operated 190 7-Eleven stores, to close all of its outlets located in Greater Jakarta. Lippo’s PT Matahari Department Store soon followed with the closure of its stores in Jakarta and Lombok, West Nusa Tenggara.
Diversified retailer PT Mitra Adiperkasa also closed two of its department store chains, Lotus and Debenhams, in Jakarta, followed by the closure of New Look fashion store in 2017.
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However, the general secretary of the Indonesian Retailers Association (Aprindo) Solikhin said the closure was just a business decision and had nothing to do with people’s purchasing power.
“Companies will decide if their stores will continue to be profitable,” he explained. “So if they see one of their stores starting to lose money, they will take what they think is the best course of action.” (bbn) A local market, also called a traditional market, exists in many countries and in most areas. The range and size of the market varies from country to country. The goods are fresh and if I’m not mistaken this is where the vendors and restaurants buy their raw skills.
The market is usually quite dark and can get crowded, but it’s a must; don’t be surprised if someone passes by on a motorcycle.
The markets consist of stalls selling fruits and vegetables you’ve never heard of, fresh meat and fish, clothing and small snacks. Whether you prefer cotton or batik, you can find your favorite blouse, dress or hat here; or you can bring home the best vegetables and fruits to make the freshest smoothie you’ll ever taste.
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Although the prices are already low, you can bargain. And the more you buy, the lower the prices. But you don’t need to buy anything: just go there.
View of the hall of Lemahabang local market, Cirebon. The sign reads: “Menjual daging sapi” (Sale of beef).
Counters are set up every morning around 04-06 am and fill up around 18:00. First of all, you should visit the local market, but due to the scorching sun, the best time to visit the market is in the morning. The sooner the better, but try to make it at least before 10 am. LONDON — (BUSINESS WIRE) — Technavio is monitoring the Indonesian retail market and predicts it will grow by $37.32 billion over 2021-2025, with a CAGR of around 4% over the forecast period. The report provides an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment.
The COVID-19 pandemic continues to transform the growth of various industries, but the immediate impact of the outbreak is different. While some industries will register a decline in demand, many others will remain unscathed and show promising growth opportunities. COVID-19 will have a strong impact on the Indonesian retail market. Market growth in 2021 is likely to increase compared to market growth in 2019.
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The market is fragmented and the rate of fragmentation will accelerate during the forecast period. CT Corp., PT Erajaya Swasembada Tbk, PT Hero Supermarket Tbk, PT Lion Super Indo, PT Multipolar Tbk, PT Ramayana Lestari Sentosa Tbk, PT Sumber Alfaria Trijaya Tbk, PT. Circleka Indonesia Utama, PT. Indomarco Prismatama and PT Mitra Adiperkasa Tbk are among the main players in the market. While the expanding retail landscape offers huge growth opportunities, factors such as poor infrastructure are likely to create problems for market sellers. To help players strengthen their market position, this Indonesia Retail Forecast Report provides a detailed analysis of the top vendors in the market. The report also provides industry insiders with information on the competitive landscape and information on the various product offerings offered by various companies.
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Technavio’s customized research reports provide detailed insights into the impact of COVID-19 on industry, regional and downstream supply chain operations. This customized report will also help clients keep abreast of new product launches in direct and indirect markets related to COVID-19, future vaccines and pipeline analysis, as well as significant changes in supplier operations and government regulations.
To learn more about global trends affecting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR46507.
Technavio provides a detailed overview of the market by researching, synthesizing and summarizing data from multiple sources. The Indonesia Retail Market Report covers the following areas:
This study identifies the growth of e-commerce as one of the main reasons for the growth of Indonesia’s retail market in the coming years.
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Technavio offers three forward looking scenarios (optimistic, probable and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research directly or indirectly impacted COVID-19 market research reports.
Technavio is the world’s leading technology research and consulting company. Their research and analysis focuses on emerging market trends and provides actionable insights that help companies identify market opportunities and develop effective strategies to optimize their market position. With over 500 specialized
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