Strategi Bertahan di Tengah Jatuhnya Daya Beli Konsumen

Summary

The script discusses the alarming shrinkage of Indonesia's middle class from 2019 to 2024, with 9.48 million people falling into poverty. It attributes this to rising costs of living and stagnant incomes, affecting consumer spending and leading to job losses. The script also highlights the struggles of the middle class with increasing expenses on food, housing, and services. It suggests strategies for businesses to adapt, such as cost efficiency, creating new markets, and product diversification. The importance of a strong middle class for economic stability and growth is emphasized, urging government intervention to boost the middle class and improve the economy.

Takeaways

• 📉 The middle class in Indonesia has drastically declined from 2019 to 2024, with millions falling into poverty within just five years.
• 💔 The number of middle-class individuals in Indonesia has decreased by 9.48 million over the last five years, shrinking by 21.45%.
• 🏭 The weakening of the manufacturing sector plays a significant role in the reduction of the middle class, as it's crucial for absorbing a large workforce, many of whom are not university graduates.
• 🏢 Many companies are facing the impact of increased operational costs and declining sales, leading to a buildup of stock in warehouses.
• 🌐 This phenomenon is not unique to Indonesia; even developed countries have experienced similar situations.
• 📈 Companies in other countries have not only survived but thrived by implementing strategies such as cost efficiency and creating new markets.
• 💼 The middle class in Indonesia now stands at 47.85 million, about 17.13% of the total population, while the vulnerable poor group has increased to 67.69 million or 24.23% of the total population.
• 🏠 The cost of living for the middle class has increased, with food expenses rising to 41.67% of their total consumption.
• 🚗 Transportation and utility costs have also risen, affecting the purchasing power of the middle class and forcing them to reconsider their lifestyle choices.
• 🛒 Companies are resorting to discounting products to clear warehouse stock and maintain cash flow, which can lead to thinning profit margins and potential losses.
• 🌱 Strategies like cost efficiency, Blue Ocean strategy, and product diversification are recommended for businesses to adapt and succeed in the current economic climate.

Q & A

What significant change occurred to the middle class in Indonesia from 2019 to 2024?

The middle class in Indonesia drastically shrank by 9.48 million people within 5 years, representing a decrease of 21.45%.

How did the shrinking middle class affect the potential middle class in Indonesia?

The potential middle class increased to 137.5 million people in 2024, accounting for 49.2% of the total population.

What was the impact of the economic situation on the vulnerable poor group in Indonesia?

The vulnerable poor group increased to 67.69 million people, or 24.23% of the total population.

What are some reasons behind the decline of the middle class in Indonesia?

One reason is the weakening of the manufacturing sector, which plays a significant role in absorbing the workforce, most of whom are not university graduates.

How did the middle class often cope with economic instability?

Despite being perceived as capable of handling their own problems, the middle class often faced the threat of layoffs and had to dip into savings when the economic situation was unstable.

What was the recorded number of workers who faced layoffs in 2024 according to the data?

More than 101 thousand workers faced layoffs.

What percentage of the workforce was working in the informal sector according to BPS data in February 2023?

Approximately 60.12%, or more than 83 million workers, were working in the informal sector.

How did the increasing cost of living affect the middle class in 2024?

The cost of food increased to 41.67% of their total consumption, and housing costs rose from 27.6% in 2019 to 28.52% in 2024.

What strategies did companies adopt to maintain cash flow amidst declining consumer purchasing power?

Many companies started to sell products at discounted prices to clear warehouse stock and maintain cash flow.

What was the consequence for companies like Quantum that could not lower their prices?

Companies like Quantum lost customers as they could not reduce prices due to increased raw material costs and labor wages, leading to a dilemma of either losing customers or maintaining quality.

What are some strategies that businesses can adopt to counter the current situation?

Businesses can adopt strategies such as cost efficiency in production and operations to lower prices, implement the Blue Ocean strategy to create new markets, or diversify products to reach a more diverse market segment.

What role does the government play in addressing the challenges faced by the middle class?

The government can take steps to increase investments in labor-intensive sectors to create more jobs, reduce burdens on the middle class by avoiding tax increases or reducing subsidies, and stabilize the prices of basic necessities.

Why is it important for Indonesia to strengthen and increase the middle class?

A strong middle class is essential for driving consumption, maintaining economic stability, and supporting economic growth with consistent purchasing power, as well as fostering a dynamic market.