Indonesian Leading Mini-Markets to Exceed 40,000 Units

Jul 2022

It has been recently projected that the stores of Indonesia’s two largest minimarket operators will exceed 40,000 units by the end of 2022 as their sales increase.

In the first quarter of 2022, the average daily sales of PT Sumber Alfaria Trijaya Tbk (Alfamart), the second largest minimarket operator in Indonesia, exceeded pre-pandemic levels as spending recovered amid the country’s return to normalcy.

The return to normalcy will continue to disproportionately benefit mini-market operators. In effect, the recent closure of the Giant hypermarket prompted small format retailers such as Alfamart and its biggest minimarket competitor, PT Indomarco Prismatama (Indomaret), to speed up store openings even during the pandemic.

It has been estimated that their the cumulative number of their stores will growth from 38,000 in 2021 to more than 40,000 by the end of 2022, thanks to the addition of more than 1,000 stores by each company by 2022. Alfamart added around 2,600 stores on a consolidated basis in 2020 and 2021 while Indomaret´s net store openings reached 2,100 stores over the same period.

(Fitch Ratings)

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