Step Inside the Biggest Cultural Extravaganza: Jakarta Fair Kemayoran 2023
The JFK 2023 was held for 33 days from June to July with total visitors of 6.3mn as well as transaction by IDR7.3tn. Despite this figure is lower compared to JFK 2022 due to decrease in event days, the average transaction per visitor increased by +9.5% YoY to IDR 1.2mn (vs IDR 1.1mn in JFK 2022).
▪️Retailers; a lot of promotion and buy-now-pay-later (BNPL) underpinned transaction
Firstly, we visited the Matahari booth (LPPF IJ-Not Rated), which was bustling with visitors, flooding every sales shelf. Additionally, the presence of paylater companies (Kredivo & Indodana) appeared to act as transaction drivers, aligning with the BNPL trend.
▪️Consumer Staples & Poultry; pursuing value added products and innovation
Then we moved to Rumah Indofood (ICBP IJ-Buy), where we saw various value-added products for sale. We like Rumah Indofood’s strategy as it encourages impulsive buying among consumers. We also found Fiesta (CPIN IJ-Hold) and Sunny Gold (MAIN IJ-Not Rated). They both offer a variety of Ready-to-Eat (RTE) products.
▪️Automotive; the existence of EV and their leaked
Continuing our journey, we explored the Polytron booth as they showcased their electric motorcycle “FOX R”. We take into account the resulting cost saving of up to 80% when using FOX R compared to conventional vehicles. At the Yamaha booth, they presented the upcoming EV lines e.g. E01 and Neos, which are expected to be launched next year with premium pricing.
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LPPF BNGA ZYRX BELI ERAA ACES MYOR ICBP UNVR CMRY ULTJ CPIN MAIN ADMF ASII SLIS
