Jakarta. The Indonesian Shopping Center Association (APPBI) is set to launch the Indonesia Shopping Festival (ISF) 2024. The event aims to generate transactions amounting to Rp 25 trillion ($1.5 billion), doubling the revenue from the Jakarta Great Sale held in June.

APPBI Chairman Alphonzus Widjaja announced that the number of participating shopping centers has increased to 396 malls, up from 350 malls in ISF 2023.

This annual shopping festival, celebrating Indonesia's 79th Independence Day, is expected to boost the purchasing power of lower-income communities through various promotions and discounts. The event will be held simultaneously in all participating shopping centers across Indonesia from August 8 to August 19, 2024.

"APPBI now has 396 shopping centers. We encourage all members to participate. ISF will take place from August 8 to 19,," Alphonzus said at a press conference on Tuesday.

He added that the Indonesia Shopping Festival will feature special discounts of up to 79%, corresponding with Indonesia's 79th anniversary. 

Shinta Kamdani, Chairperson of the Indonesian Employers Association (Apindo), said that the festival provides opportunities for retailers and MSMEs to advance their businesses and encourages the public to shop at local malls.

"In the face of global economic uncertainty, such initiatives are crucial to strengthening the domestic economy's resilience. We believe that collaboration between the government, entrepreneurs, and the public will positively impact Indonesia's economy," Shinta said.

Meanwhile, the Director General of Domestic Trade at the Ministry of Trade, Isy Karim, expressed support for ISF 2024.

"We have written to regional heads where the ISF 2024 events will be held to support local tax exemptions for promotional materials. We hope this support will help intensify event promotions," he concluded.

APPBI reported that the 2024 Jakarta Great Sale, held from June 5 to July 10, generated transactions totaling Rp 12 trillion ($740.2 million).