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Retail sales barely grow despite Idul Fitri boost
Respondents to the survey said they were more optimistic about the outlook for the next three to six months, as they expect sales to increase in May and August thanks to Independence Day on Aug. 17.
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A kiosk offers repair services and cell phone accessories. Retail sales for certain goods increased in March, as retailers dished out discounts during the Idul Fitri festive season. (JP/Bayu Widhiatmoko)
Retail sales in March barely saw any growth despite the boon from Ramadan and Idul Fitri holidays, which normally spike consumption.
According to preliminary data published by Bank Indonesia (BI) on Wednesday, the retail sales index (RSI) for March was estimated to have inched up to 236.7, marking a marginal 0.5 percent yearly increase from 235.4 in March of last year.
BI spokesperson Ramdan Denny Prakoso said in a press statement released together with the data that the growth was “aligned with demand increase” during Ramadan and Idul Fitri coupled with discounts offered by retailers during the festive season.
Spare parts and accessories for cars and motorbikes saw the strongest annual growth in March with a 6.4 percent year-on-year (yoy) increase, followed by cultural goods and recreation with 1.6 percent and food, beverages and tobacco with 1.4 percent.
The sale of spare parts and accessories have been consistently growing since at least last August and despite the positive note, March’s increase was weaker than the 16.1 percent growth recorded in February.
Groups of other goods, meanwhile, experienced an annual sales decline in March, with information and communication devices plunging the most by 9 percent yoy. Sales growth in this category has been sitting in the negative territory since at least August of last year.
Respondents to the survey said they were more optimistic about the outlook for the next three and six months, as they expect sales to increase in May and August, thanks to Independence Day on Aug. 17.
