Major retailers across different sectors in Indonesia are reconsidering their expansion plans in the wake of the pandemic, putting their bets on greater digitalization while carefully assessing the need for more physical stores. Indonesian lifestyle retailer PT Mitra Adiperkasa (MAP), which owns over 2,300 retail outlets in the country with over 150 brands including Zara, Pull&Bear, Starbucks and Kidz Station, has said it is cutting back its investment plans this year. The publicly listed company would only use 30 percent of its initial 2020 capital expenditure (capex) budget of around Rp 1.3 trillion (US$88.92 million) due to the disruptions the pandemic had caused to its business, the company executive said. “A number of new shop openings that we have targeted and some of the new brand launches that we have decided on have to be postponed because we…
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