JAKARTA, March 24 Indonesia's retail sales are
expected to rise up to 20 percent to 120 trillion rupiah ($13.8
billion) in 2011 due to the growing number of retail outlets and
strong domestic demand in Southeast Asia's biggest economy, a
newspaper reported on Thursday.
The number of retail outlets is estimated to rise over 20
percent to 16,000 units this year, newspaper Investor Daily
quoted Benjamin Mailool, the chairman of Indonesia's retail
merchants association, as saying.
"Sales will be up between 15-20 percent because of three
factors: the increasing number of outlets, economic growth and
the changing lifestyle," Mailool said.
Investors have taken note, with a battle between supermarket
operators to tap an emerging middle class expected to trigger
more acquisitions in Indonesia and Southeast Asia.
Indonesia's Matahari scrapped a plan to sell its
hypermarket business in January but says it is keen to expand
aggressively and dislodge Carrefour as the country's
number one superstore operator.
Retail expansion comes as the government expects GDP growth
this year to reach 6.4 percent.
($1 = 8,721.5 Rupiah)
(Reporting by Telly Nathalia; Editing by Neil Chatterjee)