Globally, the retail industry is transforming. In Indonesia, changing global retail trends are coinciding with an evolving customer base whose demands of retailers and landlords are also changing. In response to these developments, Lippo Malls Indonesia Retail Trust (LMIRT) sought Cistri’s advice to understand how these developments would impact its strategy.
Cistri drew on our global and regional experience, applying relevant lessons from other markets to Indonesia and LMIRT. Combining global lessons with local considerations, we provided an outlook for the Indonesian retail market and its product and geographic submarkets.
Our analysis reflected various socioeconomic mega trends, including growth in e-commerce and consumer consciousness of wellbeing and environmental issues. Our market outlook informed our recommended strategies for LMIRT’s portfolio and selected assets therein. Individual asset studies drew on the Indonesia-wide study, as well as location-specific studies, including the use of mobile geolocation data to understand local user behaviour.
Cistri’s research equipped LMIRT to formulate a data-backed strategy to strengthen its portfolio for the future.