Starbucks Indonesia banks on consumer spending to grow its revenue

Its Indonesian operator, Mitra Adiperkasa, is predicting that a recovery in spending will sustain its highest revenue growth in three years.

According to The Jakarta Post, Mitra Adiperkasa is betting that demand for Starbucks beverages will grow among the fast-swelling ranks of middle-class and affluent Indonesians, just as it has in neighboring Philippines and Thailand.

Following the outlook, the brand has also announced an accelerated pace for expansion over the next five to ten years.

Consumer confidence remains near record high despite falling for two months in a row, according to a Bank Indonesia index. Mitra Adiperkasa operates Indonesia’s 322 Starbucks outlets through its unit PT MAP Boga Adiperkasa Utama and plans to add 60 stores every year for the next three years.