Good News For The 'Most Consumptive'! MenkopUKM Teten Prepares National Discounts Because Indonesian Retail Has Stalled For 22 Years

Photo: Doc. Hippindo

JAKARTA - The Minister of Cooperatives and SMEs, Teten Masduki revealed the fact that the Indonesian retail industry has stagnated or stagnated for 22 years. Therefore, said Teten, the retail industry must be boosted by household consumption.

Teten also appreciated the steps taken by the Association of Indonesian Shopping Center Retailers and Tenants (Hippindo) which held the 2022 Indonesia Retail Summit. Teten said, this event could encourage public spending.

“This is very important to restore our retail which has stagnated for 22 years. We know that in the second quarter, our economic growth improved by 5.44 percent and 53 percent was supported by household consumption. So this is important," he said at the 2022 Indonesia Retail Summit in Sarinah, Jakarta, Monday, August 15.

Teten also said that to maintain household consumption growth, one thing that can be done is to provide shopping discounts. In this way, economic growth will be maintained.

“As directed by the President in yesterday's plenary session, we must work together to move household consumption with a national discount. So we all have to move this, because in the third quarter we must maintain our optimism for economic growth by continuing to encourage household consumption," he said.

Not only about shopping, said Teten, what should be prioritized is shopping for local products. According to Teten, Sarinah is one of the locations that can be an example in promoting local products.

"I think this is very important and of course we must also encourage shopping for domestically made products, we must encourage shopping for local brands and I think from Sarinah's experience the management of private malls must also dare to display local brands," he said.

Teten also appreciated SOE Minister Erick Thohir who carried out the restoration of Sarinah. This change is recognized as capable of attracting public attention.

“In Sarinah, local brands can attract traffic, they can attract extraordinary visitors. Applause for Mr. Erick. So I think this is a moment for us, a monetum for us to start moving people to love domestic products,” he explained.