Indonesia as the largest Muslim country in the world has people who actively participate in driving the economy in the month of Ramadan. Not surprisingly, the fastest economic growth usually occurs in the month of Ramadan or before Eid. The increase in sales turnover in the month of Ramadan indicates a fairly large circulation of money, causing a domino effect in the form of increased consumer demand. One clear example of this condition is that local fashion brands have begun to increase their stock or inventory to prepare for the Lebaran moment, which has been prepared for 2-3 months in advance. The best ammunition for local brands to compete in the month of Ramadan is to ensure the amount of stock they have can meet the high demand for goods. Restock.id Chief Risk Officer (CRO) M Audi Vialdo said, "As a peer to peer (P2P) lending platform in Indonesia, Restock.id provides solutions for MSMEs (Micro, Small and Medium Enterprises) who are having difficulty growing their business.
"In Indonesia, Restock is the first P2P Lending that facilitates MSME financing by using business assets and inventory to be used as financing guarantees. In short, Restock.id connects businesses or MSMEs with flexible capital," Audi said in a statement to Beritasatu.com, Tuesday (15/2/2022). Like in previous years, Audi explained that MSMEs, including Restock.id borrowers, have started to restock goods from the end of the year until the month of fasting and will be booming ahead of Eid. "This is a very important moment for MSMEs who want to increase their business scale, and also for Restock.id in offering funding to entrepreneurs with high potential," he explained. Since the beginning of the pandemic, Audi added, Restock.id saw the great interest of the Indonesian people in fashion, especially for local brands. "The MSMEs engaged in fashion have also grown rapidly since a few years ago, for example the local shoe brand, Brodo," he added.
According to Audi, apart from fashion companies, local brands that are also cooperating with Restock.id are companies from the healthcare sector (masks, hand sanitizers) which are mass-produced and collaborations with several consumer goods companies or daily necessities. "So far, our cooperation with several healthcare and consumer goods companies has been very smooth. We can accept new borrowers in these fields to cooperate with Restock.id," explained Audi. Meanwhile, Brodo's Founder and CEO Yukka Harlanda said the development and production of goods for the months of Ramadan and Eid is one of the keys to success for local brands to accommodate high consumer demand. "Restock.id is one of our partners who has helped and accompanied us to be able to meet the funding needs for the Eid production," explained.
