It was a mixed bag of first quarter results for Indonesian home improvement retailers as some saw sales soar in the double digits while others experienced revenue dips. Home improvement retailers in the country reported that sales skyrocketed by as much as 31 per cent for some but also fell by as much as 8.25 per cent for others.
Leading the fray was foreign player PT Daya Intiguna Yasa Tbk, the operator of Mr. DIY in Indonesia, which recorded a 31 per cent jump in first quarter sales, to 2.36 trillion Indonesian rupiah (IDR, EUR 115.4 mio). The company is part of Mr. DIY group, which, in turn, is headquartered in Malaysia.
Mr. DIY Indonesia attributes its strong showing to its three core pillars: hemat (value), lengkap (variety) and dekat (proximity). “As consumers become more selective, this value proposition becomes even more relevant. While needs remain unchanged, customers are more…