Erajaya Swasembada (ERAA) is relying on promotions, installment financing, and omnichannel sales to support year-end business as some middle-class consumers trade down their lifestyle spending. The company says it will keep adjusting its products and services across three business verticals: Digital, Active Lifestyle, and Food & Nourishment.

Erajaya said pre-orders for the iPhone 18 Pro Series exceeded those for the iPhone 17 in the previous year, but it has not set a specific sales target. Other measures include measured retail expansion, membership growth, stronger omnichannel operations, and efficiency. Management has also not issued a revenue or profit forecast for year-end 2026.

KB Valbury Sekuritas analyst Andre Suntono views the iPhone 18 as a potential catalyst because it targets upper-middle-income buyers, while lower-spending consumers may shift to other brands or more affordable specifications. He said sentiment for the Pro series remains positive, with the challenge being to sustain purchase interest as spending priorities change. KB Valbury maintained its buy view and raised its ERAA target price to Rp750. Andre forecasts 2026 revenue of Rp84 trillion (+9.7% year on year) and net profit of Rp1.42 trillion (+18.7%). In the first half of 2026, revenue was Rp42.9 trillion (+22.4%) and net profit Rp784 billion (+38%); same-store sales growth for the first seven months was 2.2% year to date. The recommendation reflects the analyst’s view at publication, not a guaranteed outcome or personalized investment advice.