How many Ramayana stores are there?

Last weekend, news circulated that PT Ramayana Lestari Tbk was closing 8 of its outlets, fueled by growing concerns about declining public purchasing power. However, Ramayana clarified that the closures are temporary, due to planned renovations. Some of the Ramayana stores to be temporarily closed include those in Bogor, Banjarmasin, Bulukumba, Pontianak, Sabang, Gresik, and two outlets in Surabaya.

According to the company's public financial report for June 2017, the number of Ramayana Group outlets increased by two to 115 in the first half of the year, compared to the end of December 2016. This comprises 104 Ramayana stores, 7 Robinson stores, and 2 Cahaya stores. Between January and June 2017, Ramayana opened two stores and closed one. The highest concentration of Ramayana stores is in and around Jakarta (43 stores), followed by Sumatra (21 stores) and West Java (13 stores).

The increase in electricity tariffs for 900 VA consumers and the sluggish domestic economy have reduced spending among lower and middle-class consumers. As a result, several retail companies have experienced slower sales turnover this year. To win market share in the face of intense competition and the rise of online shopping, retail businesses must innovate to attract consumer spending.