crossposted commentary article

Indonesia’s future of retail lies in a blended approach

Industry leaders discuss the innovative strategies to meet evolving consumer needs at Retail Asia Forum 2024

THE future of retail is firmly rooted in a blended approach, which seamlessly integrates the finest aspects of both physical and digital experiences. This consensus emerged clearly amongst the panellists at the Retail Asia Forum 2024 at the Shangri-La Jakarta last 16 May.

Moderated by FM Sidhartha, managing partner of Trade Marketing Indonesia, the panel discussion featured industry leaders Haryanto Pratantara of PT. Kurnia Ciptamoda Gemilang, Monish Mansukhani of PT Matahari Department Store Tbk, Marlo Budiman of PT Lippo Malls Indonesia, and Richard Stanlay of K3MART.

Underscoring the need for a strategy that combines in-person and online shopping to meet evolving consumer demands, the panel cited dramatic shifts in consumer behaviour in Indonesia, the rise of experiential retail, and innovative strategies for leveraging technology and data.

Mansukhani highlighted the challenges in forecasting consumer trends in the dynamic fashion industry, noting the significant impact of macroeconomic conditions, technological advancements, and environmental concerns.

“The rise of technology and the comfort in making online purchases have been fundamental shifts,” he said, highlighting the increased income disparity as measured by Indonesia’s Gini coefficient.