KONTAN.CO.ID - JAKARTA. With various global challenges, such as rising inflation and fuel prices, it seems that they will also have an impact on household electronic financing which has an impact on people's purchasing power. This can be seen from the declining public demand for electronic products and gadgets.
Data from the Financial Services Authority (OJK) shows that the distribution of financing to electronic products decreased by 2.8% monthly to Rp. 3.82 trillion in July 2022 from the previous month which reached Rp. 3.93 trillion, although there was still an increase of 7.6% from the previous month. previously reached Rp 3.55 trillion.
Head of the Financial Services Authority (OJK) 2B IKNB Supervision Department, Bambang W Budiawan, said that the prospect of financing electronic products could be affected by economic conditions. This is because most of the customers for financing electronic products are the lower middle class.
"If you look at the volume of financing for electronic goods, it is indeed large, but the transaction is not large, only Rp. 3 million - Rp. 4 million. Therefore, finance companies are much more selective in distributing financing for electronic goods. The percentage of financing approvals is also only 7%-10% of the total submissions," Bambang explained recently.
On the other hand, Suwandi Wiratno, Chairman of the Association of Indonesian Financing Companies (APPI) is still optimistic that the prospect of financing electronic products will still be bright, although there are many challenges.
"However, with the challenging economic conditions of society, finance companies seem to be more selective in channeling financing for consumer goods such as electronic products. This is done to minimize the risk of an increase in the ratio of non-performing financing or non-performing financing (NPF)," said Suwandi.
Meanwhile, some players do not seem to have felt a significant impact from the various economic challenges. For example, Akulaku Finance, which until last August still posted a total electronic financing of around Rp 9 trillion, an increase of about 25% on an annual basis.
"Electronics is one of the things that drives the company's performance, always rather than gadgets with a financing portion of around 25% of the total company financing," said President Director of Akulaku Finance Indonesia Efrinal Sinaga.
Future trends, his party is still optimistic to be able to realize the financing target by the end of the year to reach Rp 12 trillion.
"We will also be more selective in distributing electronic financing because the impact of the increase in fuel and basic commodities will more or less affect consumers' purchasing power and installment power," explained Efrinal.
In boosting electronic financing, his party continues to expand online collaboration with a number of market places and also offline with electronic shops. In addition, by creating thematic and seasonal programs.
President Director of Astra Multifinance (AMF) Ardian Prasetya also admitted that this year's financing trend is still positive.
"The impact of inflation and the increase in fuel prices will likely be felt after this, but so far it has not had an immediate impact, and the annual growth of electronic financing is still growing above 20 percent," said Ardian.
However, according to Ardian, the growth of electronic financing has not been able to fully support the FIFGroup business. The portion of electronic financing is still around 10% of the total financing at FIFGroup which has quite a variety of financing products.
Ardian also said that future financing trends are still positive because people's needs for electronic equipment and gadgets are still growing, although it is likely that in the last quarter of this year it will slow down a bit with people more concerned with basic needs, due to rising prices for daily necessities and many products. other.
"The company's strategy for now is to remain selective in choosing low-risk consumers, we also add variants of financing products, and expand distribution channels and maintain service to consumers with a focus on the ease and speed of the process in increasing customer satisfaction," said Ardian.