Consumer Firms Brace for Underwhelming Idulfitri Sales Amid Weak Buying Power

Bisnis.com, JAKARTA — Consumer companies will likely be unable to reap the full benefits from Idul Fitri and holiday bonus (THR) tailwinds this year due to weak purchasing power and limited public spending.

Nigel Peh, a portfolio manager at Timefolio Asset Management, said there were concerns about consumer companies and weak sales leading up to Lebaran, while lower household spending and deflationary trends are weighing on Indonesia’s capital market.