Indonesia consumer trends 2024

A free report from Cimigo market research on Indonesia Consumer Trends report 2024.  Cimigo assesses the consumer trends and expectations for 2024 in Indonesia. Discover the economic, social and consumer trends in Indonesia.

Indonesia’s long-term outlook

Indonesia is on track for sustained economic growth, bolstered by a young, productive workforce, urbanisation, and a rapidly expanding digital economy. However, challenges persist, including income inequality, inflation management, and price-sensitive consumer behaviour. Businesses that leverage Indonesia’s digital transformation and rising household affluence will be well-positioned for long-term success.

A key enabler of Indonesia’s growth is its demographic dividend, with 69% of the population in the working-age group and a low dependency ratio. Over the past decade, Indonesia has achieved decent GDP growth, averaging 5%, driven by robust domestic demand and strategic government initiatives. These economic fundamentals are expected to support similar growth rates in the coming decade.

The nation’s future challenge will be maintaining economic momentum as its population ages. Success will depend on transitioning from an emerging to a developed economy, ensuring sustainable development amid shifting demographics.

Indonesia consumer trends 2024

The presentation explores the eight reasons that Indonesia will prosper in the next decade.

  1. Substantial productive age labour force with a low dependency ratio.
  2. Q3 2024 GDP growth reached 4.95%.
  3. Domestic and international travel continues to grow.
  4. Stable business sentiment and increased investment.
  5. Inflation remains manageable as the retail industry steadily recovers.
  6. Household affluence keeps growing.
  7. Digital growth continues.
  8. Government initiatives for economic development.

For more details, please download the report.