Reshaping Business
Forbes Indonesia|November 2021
At the height of COVID-19 pandemic, Hero Supermarket executes a major decision to divest Giant. Now, it is recalibrating business to regain profitability.
Sonya Angraini

About five months ago, PT Hero Supermarket made the surprising announcement that it would stop operating Giant supermarket and closed all of Giant outlets by the end of July. The company cited the change in market dynamics and consumer behaviours as the reasons behind the closure. “We have done strategic review of all of our businesses. In particular the food business and the market format, especially in areas where we have struggled,” says President Director Patrik Lindvall. He adds that the closure of Giant was a well-thought through process, but the COVID-19 pandemic forced the company to accelerate the plan’s execution.

With Giant’s closure, Patrik says the company will have better opportunities and resources to develop its three remaining business brands, namely Hero Supermarket, Guardian, and IKEA. The company has laid out various plans for each business as they are currently at different maturity stages. “If you want to be successful, regardless what business you are in, you need to be very clear on your purpose and whom you are serving, and do that consistently,” he notes.

Hero Supermarket is now in a consolidation stage, and the company’s focus will be more on improving the shopping experience at existing stores. “You always attempt to grow, but at the same time, the first thing you do is to keep your promise. Hero (Supermarket) already has presence in terms of location,” says Patrik. Over the past six months, the company has opened six new Hero stores across four provinces, bringing the total number to 27. He adds that the company is looking into converting some Giant stores into Hero Supermarkets, but the plan does not necessarily have to happen this year.

Continue reading your story on the app

Continue reading your story in the magazine

MORE STORIES FROM FORBES INDONESIAView All

BACK ON TRACK

Collective wealth gets a 21% boost to a record $162 billion amid an economic uptick.

10+ mins read
Forbes Indonesia
December 2021

Championing Locals

The wave of social commerce is enabling inclusive digital economies beyond urban areas.

6 mins read
Forbes Indonesia
December 2021

Boys in the Bubble

Startups are supposed to specialize, but OPENSEA’s founders thrived by building a wide-open market for creating and trading all manner of NFTs, whether art, music or gaming. Now that they’re centimillionaires and poised to become billionaires, they have other worries: competitors, fraudsters and the next crypto crash.

6 mins read
Forbes Indonesia
December 2021

Enduring Relations

The implementation of IA-CEPA amid the pandemic signifies the Indonesia-Australia’s commitment to recover and counter future challenges together.

6 mins read
Forbes Indonesia
December 2021

Sweet Success

Steven Erwin envisions Unifam to become a major global player in the confectionery and F&B industry.

5 mins read
Forbes Indonesia
December 2021

Marathon Man

Across America, scores of municipal pension funds remain scandalously underfunded. But not the pension fund of Tampa’s police and firemen, thanks in large part to JAY BOWEN, whose no-frills approach to stock picking has protected and served them for more than 45 years.

5 mins read
Forbes Indonesia
December 2021

Gold Rallies on Inflation Fears

During September the price of gold rallied to $1,868 per ounce following the release of figures on US inflation by the Bureau of Labor Statistics which indicated that, as of September, CPI inflation had rocketed to 6.2%, above the 5.8% which economists had been predicting.

2 mins read
Forbes Indonesia
December 2021

Set Off to A New Start

Bank Aladin has two main ingredients for success: establish trust and offer better customer experiences.

5 mins read
Forbes Indonesia
December 2021

The Daily Intake

YOUVIT plans to invest further into marketing and grow into one of the leading vitamin brands in Indonesia.

4 mins read
Forbes Indonesia
December 2021

THE CROESUS OF CRYPTO

FTX COFOUNDER SAM BANKMAN-FRIED BUILT A $22.5 BILLION FORTUNE BEFORE HIS 30TH BIRTHDAY BY PROFITING OFF THE CRYPTOCURRENCY FRENZY—BUT HE’S NOT A TRUE BELIEVER. HE JUST WANTS HIS WEALTH TO SURVIVE LONG ENOUGH TO GIVE IT ALL AWAY.

10+ mins read
Forbes Indonesia
November 2021
RELATED STORIES

A NATION OF QUITTERS?

HAS AMERICA BECOME a nation of quitters? It might seem so.

3 mins read
Reason magazine
March 2022

Keeping Covid Out of The Cabin

As the pandemic enters Year 3, airlines are stepping up their hygiene routines

4 mins read
Bloomberg Businessweek
January 24, 2022

SHOPPING FOR A CAR THIS YEAR WILL NOT BE THE SAME

2021 was an unusual year for the automotive industry. While customer demand for new cars rebounded from the economic uncertainty of 2020, automakers found themselves unable to meet that demand because of semiconductor chip shortages and supply chain problems. So what should car shoppers expect for 2022? Much of the same, unfortunately.

3 mins read
AppleMagazine
January 14, 2022

Resistir

2021 comenzó con optimismo: fue el año de la esperanza y las vacunas. Sin embargo, una serie de conflictos violentos, una nueva ola del virus y varios recordatorios letales de la crisis climática dejaron claro que sería un año en el que debíamos…

10+ mins read
National Geographic en Español
Enero 2022

US JOBLESS CLAIMS RISE BY 7,000, BUT STILL LOW AT 207,000

The number of Americans applying for unemployment benefits rose last week but remained at historically low levels, suggesting that the job market remains strong.

1 min read
Techlife News
08, January 2022

The lost girls of covid

For 25 years, girls in developing countries have been on a remarkable trajectory of progress. The pandemic is reversing it

10+ mins read
Bloomberg Businessweek
January 10, 2022

PROOF COVID IS CHINESE BIOWEAPON!

Harvard expert details Wuhan lab link to virus

1 min read
Globe
January 10, 2022

Closing Schools to Protect Kids Made Them Sick

NOT LONG AGO, parents spent time and energy worrying about contagious diseases other than COVID-19: respiratory syncytial virus (RSV); hand, foot, and mouth disease; strep throat; and even the boring old flu. But the default standards for “safety” haphazardly narrowed and heightened as COVID-19 burst onto the scene. Lockdowns, school closures, and other restrictions substantially limited people’s access to each other.

3 mins read
Reason magazine
February 2022

Staying Relevant

The pandemic has had widely different effects on executives around the world. There are some strategies, however, that anyone can use to adapt to rapid changes

8 mins read
Newsweek
December 31, 2021

Hall Of Famers

Developing the Tech that Made covid Vaccines Possible

7 mins read
Newsweek
December 24, 2021