Increased Purchasing Power, Money Supply to Boost Retail Sector

Consumer confidence at an optimistic level, an increase in minimum wage and civil servant salaries, as well as the potential increase in money serve as a series of positive catalysts for companies operating in the retail sector in 2024.

Ana Noviani & Hafiyyan

10 Jan 2024 - 17.10
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Increased Purchasing Power, Money Supply to Boost Retail Sector

Retail companies targeting upper-middle-class consumers, such as ACES and MAPI, are expected to remain resilient. Foto BID

Bisnis, JAKARTA — Consumer confidence at an optimistic level, an increase in minimum wage and civil servant salaries, as well as the potential increase in money serve as a series of positive catalysts for companies operating in the retail sector in 2024.

There are at least 14 retail companies listed on the Indonesia Stock Exchange (DX). As of early 2024, seven companies have experienced a decline in stock prices, while seven others have seen gains.

The retail company leading the gains in stock is PT Matahari Department Store Tbk. (LPPF), which rose by 13% year-to-date (YtD). Additionally, shares of the MAP Group company, PT MAP Aktif Adiperkasa Tbk. (MAPA), strengthened by 7.32% YtD. (See Infographic)

Mirae Asset Sekuritas analyst Rut Yesika Simak said the retail sector in Indonesia demonstrates strong and diversified competition. Retailers operate in a highly fragmented market, occupied by conglomerate-owned entities.

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Increased Purchasing Power, Money Supply to Boost Retail Sector

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