CORE: Market Revitalisation Strengthens Lower-Middle Class Economy

Jakarta (ANTARA) - Executive Director of the Centre of Reform on Economics (CORE) Indonesia, Mohammad Faisal, has stated that the revitalisation of traditional markets must be accelerated by the government to strengthen the economy of the lower-middle class amid weakening purchasing power. He noted that under current economic conditions and declining purchasing power, people tend to switch to traditional markets because the prices of basic necessities are relatively cheaper compared to modern retail or traders who sell directly to residential areas. “This condition shows that demand for traditional markets is actually increasing as more people choose to cook at home and seek food ingredients at more affordable prices,” Faisal said on Friday. According to Faisal, revitalisation is necessary so that traditional markets can meet the rising demand with better services and facilities. This condition indicates that traditional markets are increasingly becoming centres of economic activity for the lower-middle class and can reduce dependence on modern retail networks. Therefore, he assessed that market revitalisation is not enough if it only involves physical building repairs but must also improve service quality so that traditional markets become cleaner, more comfortable, well-organised, and able to provide a sense of security for buyers. Faisal said this step is important to keep traditional markets competitive amidst the expansion of modern retail and e-commerce platforms, while also sustaining the businesses of small traders and strengthening the economic growth of the lower-middle class.