Jakarta: The latest Retail Sales Survey conducted by Bank Indonesia (BI) indicated stronger retail sales performance in the month of March 2021, as indicated by 6.1% (mtm) growth of the Real Sales Index (RSI) after contracting 2.7% (mtm) in February 2021.
Retailers confirmed that sales improved in response to a seasonal spike in demand during the approach to Ramadan, coupled with conducive seasonal and weather conditions.
"According to the respondents, the main drivers of retail sales in the reporting period were Clothing, Cultural and Recreational Goods as well as Automotive Fuels," said BI Communication Department Head Erwin Haryono in a press release on Tuesday.
Furthermore, respondents predicted the current retail sales trend to persist in April 2021, with the RSI, as a measure of retail sales performance, accelerating to 11.4% (mtm) in line with increasing public purchasing power during Ramadan, favourable seasonal and weather conditions as well as numerous retail discount programs.
Retailers expected sales of most commodity groups to increase, led by Food, Beverages and Tobacco, Information and Communication Equipment, as well as Other Goods.
Annually, respondents expected to turn around the previous 14.6 % (yoy) contraction to achieve broad-based 9.8% (yoy) retail sales growth across all commodity groups, particularly Other Goods, namely Clothing, Automotive Fuels as well as Food, Beverages and Tobacco.
In terms of prices, retailers predicted milder inflationary pressures in the next three and six months (June and September 2021).
The 3-month Price Expectations Index (PEI) decreased to 141.4 from 156.4 in line with adequate stock coupled with the smooth distribution of goods.
Meanwhile, the 6-month PEI fell to 134.9 from 141.7 in response to the orderly distribution of goods and sufficient supply.
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