MAPI – Expects a double-digit growth in 2024

MAPI – Expects a double-digit growth in 2024 Mitra Adiperkasa (MAPI) expects a double-digit turnover growth in 2024, supported by unwavering consumer confidence in November 2023 by Bank Indonesia’s Consumer Survey. The company foresee higher purchasing power in 2024 on the rising regional economies, higher money circulation due to the upcoming political year and the increase in minimum wages. Looking ahead, MAPI maintains a strong focus on omnichannel integration, prioritizing offline operations while actively expanding specialty stores. Notably, MAPI has opened 475 stores (gross) in 9M23, with total of approximately 3,008 stores. Additionally, MAPI's regional sales in SEA, accounting for 12% of total revenue in 9M23, this showed higher demand from the market. Strategic partnerships with Frasers Group, Sports Direct Malaysia, and collaborations with brands like Flying Tiger Copenhagen underscore MAPI's commitment in introducing a diverse range of world class brands and competitively priced products. (Sources: Bisnis Indonesia)