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Indonesian retailers to maintain sales momentum post-Ramadan
Indonesian retailers are projected to maintain their sales momentum even after the fasting month and the Idul Fitri holidays, which normally lift consumer spending, came to an end, Bank Indonesia (BI) data show.
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People shop at a mall in Serang, Banten, on April 9, 2023. (AFP/Dziki Oktomauliyadi)
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ndonesian retailers are projected to maintain their sales momentum even after Ramadan and the Idul Fitri holidays, which normally lift consumer spending, came to an end, Bank Indonesia (BI) data show.
Preliminary data released by the central bank on Wednesday suggest the real sales index (RSI) rose to a reading of 241.6 in April, or up 1 percent year-on-year (yoy).
That would mark a slowdown, however, from the annual growth rate of 4.8 percent retailers had registered in the preceding month.
Retail spending growth, according to the latest estimates, was mainly pushed by demand for cultural and recreational goods, household goods, vehicle fuels as well as vehicle spare parts and accessories.
BI spokesperson Erwin Haryono noted in a press statement released on Wednesday the increase in demand during Ramadan and Idul Fitri could be partly attributed to “retailers’ discount strategy and smooth distribution”.
Even though Muslim consumers refrain from eating and drinking throughout daylight hours during Ramadan, they tend to spend more on food and beverages, as sumptuous meals are common for iftar when they break the day’s fast at sundown, often in a ceremonial setting or a private gathering.
Food, drink and tobacco (FBT) sales experienced a surge in April, according to BI data, followed closely by sales of electronic devices.
