Electronic City Indonesia consolidates leadership in modern electronics retailing for emerging middle class
Indonesia is undergoing a rapid market transformation. With a healthy and steadily growing economy spurred by a burgeoning middle-class population and fast-growing sectors such as tourism and e-commerce, the country is experiencing a rising flood of consumerism benefiting businesses such as Electronic City Indonesia.
Since the opening of its flagship store in Sudirman Central Business District in 2001, Electronic City has grown to become one of the country’s most admired companies listed on the Indonesia Stock Exchange with the ticker ECIIJK. Driven by a vision to develop modern retail stores for electronic goods supported by a full range of innovative after-sales services, the company now has 57 stores and eight central warehouses strategically located across several key cities in Java, Bali, Sumatera, Kalimantan and Sulawesi – with more stores in the pipeline planned for this year.
“We have proven ourselves in the modern electronics market over the years, and we’ve transitioned from being a market pioneer to becoming Indonesia’s leading electronics retailer,” says Ingrid Pribadi, president.
“We have the best management team, the best business process system, and we are the only listed company in this sector with a solid financial position. We have very good brand value, a strong brand image, and we continuously find ways to improve our product mixes and our service quality.”
A constant winner of various major business performance awards over the years in the electronic retail category, Electronic City offers a comprehensive range of audio-video products, home appliances, mobile devices and gadgets, information technology equipment and office supplies from the most popular leading brands including Samsung, LG, Sony, Panasonic, Toshiba, Sharp, Nikon and Canon, among others.
Business growth, operating efficiency, cost-effectiveness and human resource development are key considerations in the mind of Electronic City management.
These are important in the day-to-day running of the business and in committing capital expenditures such as investing in systems, applications and products and other systems to achieve accuracy in inventory management, business intelligence, marketing strategy, logistics and supply chain management, and to provide the best service to the customers.
As part of its branding strategy, Electronic City focuses on developing concept stores – classified as platinum, gold and silver – that target different consumer segments. The company aspires to open more platinum concept stores that promise a modern, comfortable and total in-store shopping experience incorporating the latest trends such as the internet-of-things connectivity of smart home appliances.
“As a company, Electronic City takes it upon itself to continuously keep pace with the market’s evolution and adapt to it. We follow the market and have evolved with the trends,” Pribadi says. “With the new business processes that we set up over the last one-and-a-half years, we are able to detect subtle market changes and adjust to consumer preferences.”
A partner of choice for consumer electronics brands and products in Indonesia, Electronic City sees high potential in the country’s underdeveloped e-commerce market and is open to regional investors and strategic partners who can add value to the company’s business expansion.
“This business is so dynamic,” Pribadi says. “With all the changes that are happening, you have to hang on and never give up despite the challenges. Passion is key to continuously achieving new heights in this business. When people talk about modern electronics retailers, we want Electronic City to be the first name that comes to their minds.”