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Ramadan Month Poised to Spur Retail, Consumer Stocks

The Ramadan momentum is poised to spur retail and consumer companies’ stocks due to increased public spending.

Dionisio Damara

25 Feb 2024 - 19.34
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Ramadan Month Poised to Spur Retail, Consumer Stocks

Illustration of customers choosing essential goods at one of the modern retailers in Depok, West Java. JIBI-Business-Himawan L Nugraha.

Bisnis, JAKARTA — The Ramadan month, set to fall in March 2024, is expected to spur retail and consumer companies’ stocks due to increased public spending.

NH Korindo Sekuritas Indonesia analyst Cindy Alicia Ramadhania said retail and consumer companies will see a tailwind ahead of the Ramadan month thanks to higher consumption.

"The purchasing power of the community should increase because the Ramadan moment usually involves the giving of Eid al-Fitr bonuses, especially now that the homecoming tradition is back to normal," Cindy told Bisnis, on Friday (23/2/2024).

Public purchasing power is also likely to be boosted by the distribution of Direct Cash Assistance (BLT) expected to be disbursed before entering the fasting month. Cindy believes this should boost community purchasing power throughout Ramadan.

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