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Retailers downbeat as consumer confidence declines
Retailers in Indonesia have expressed pessimism in their sales outlook one day after another survey showed that consumer confidence in the country is weakening.
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Window shopping: A visitor takes a look at shoes on display in the Grand Indonesia shopping mall on Aug. 29, 2024. (Antara/Aprillio Akbar)
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etailers in Indonesia have expressed pessimism with regard to their sales outlook one day after another survey showed that consumer confidence in the country is weakening.
Preliminary data published by Bank Indonesia (BI) on Wednesday based on a survey conducted in August showed that retailers were expecting lower sales in the month ahead.
The central bank’s retail sales index (RSI) projected a decline to a reading of 210.5 in September, marking a 2.5 percent drop from 215.9 points registered in August.
While the latest index value is up when compared with the 201.1 logged in September last year, the 4.7 percent year-on-year increase lags behind Indonesia’s GDP growth of around 5 percent.
Freshly installed BI spokesperson Ramdan Denny Prakoso attributed the monthly drop to “declining public demand as retailers’ special offers for Independence Day ended”, according to a statement released together with the survey results on Wednesday.
The discounts had pushed up August’s RSI by 1.7 percent month-to-month (mtm), but that came after a steep drop of 7.2 percent mtm recorded in July.
The report states that spare parts and accessories, as well as vehicle fuel were among the goods that sold better in September.
