Retail in Asia

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Indonesia’s Matahari has plans for expansion

Indonesia’s Matahari Department Store is bullish that consumer spending will continue to propel the country’s economy, giving the company a solid base to accelerate its store expansion to take advantage of the trend, its CEO Michael Remsen says.

Indonesia’s average per capita income climbed to USD3,500 in 2011 from USD3,000 in 2010, pushing up the number of middle-income households with extra spending power. Combine that with the fact that the country has a demographically young population, and consumer spending has been growing in the past few years, a trend Remsen expects to see continue.

Though Remsen did not give details, local media have reported that the company plans to open up to 15 new stores by the end of this year as it seeks to increase its share of the retail market. 

(Source: Jakarta Globe )