The Indonesian Retailers Association (Aprindo) estimates that the modern retail sector will grow 4.8% to 4.9% in the first semester of 2024 with the potential of further decline considering the declining purchasing power which has been shown by several indicators. One of the indicators is the deflation in three consecutive months. Based on data from the Statistics Indonesia (BPS), Indonesia recorded deflation in May, June and July 2024 at 0.03%, 0.08% and 0.18%, respectively.