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Strength
In 2025, we are more constructive on defensive retailers with exposures to foods and basic items given current difficult operating environment on the back of IDR weakness and elevated interest rate levels
Weakness
High average minimum wage increase of 6.5% YoY may hurt retailers with middle-up target market as employee costs could reach c.50% of operating expenses; IDR depreciation may hurt purchasing power
Opportunity
Potential rise in commodity prices due to La Niña coupled with IDR depreciation should support future SSSG, especially outside Java, as retailers continue to expand their presence in these regions
Threat
Import tariffs and weaker local currency could cause higher local prices resulting in weaker SSSG; Unfavorable product mix could unfold due to consumer down trading amid weak purchasing power environment
Samuel Sekuritas Indonesia is a leading Indonesian securities brokerage firm. Established in 1997, the firm has grown to become one of the most respected and trusted financial services companies in the country. With a wide range of services and products, Samuel Sekuritas Indonesia has become a trusted partner to many investors, both institutional and individual.
The company offers a variety of financial services, including equity, debt and derivative securities brokerage services, research and portfolio management, asset management and capital market services, as well as a range of other investment solutions. Samuel Sekuritas Indonesia is also a leader in providing financial education and training, and has established itself as a leading provider of investor relations services.
The company has a strong research capability and is committed to providing its clients with up-to-date and reliable market analysis and recommendations. It also has a team of experienced and knowledgeable professionals who are dedicated to providing quality service to its clients. As a result, Samuel Sekuritas Indonesia has become a preferred partner for many investors in Indonesia.
In addition to its financial services, Samuel Sekuritas Indonesia also offers a range of other services, such as corporate finance and advisory services, mergers and acquisitions, and venture capital.
