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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.
- Substantial productive age labour force with a low dependency ratio.
- Q3 2024 GDP growth reached 4.95%.
- Domestic and international travel continues to grow.
- Stable business sentiment and increased investment.
- Inflation remains manageable as the retail industry steadily recovers.
- Household affluence keeps growing.
- Digital growth continues.
- Government initiatives for economic development.
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Minh Thu - Consumer Market Insights Manager
Travis Mitchell - Executive Director
Malcolm Farmer - Managing Director
Hy Vu - Head of Research Department
Joe Nelson - New Zealand Consulate General
Steve Kretschmer - Executive Director
York Spencer - Global Marketing Director
Laura Baines - Programmes Snr Manager
Mai Trang - Brand Manager of Romano
Hanh Dang - Product Marketing Manager
Luan Nguyen - Market Research Team Leader
Max Lee - Project Manager
Chris Elkin - Founder
Ronald Reagan - Deputy Group Head After Sales & CS Operation
Chad Ovel - Partner
Private English Language Schools - Chief Executive Officer
Rick Reid - Creative Director
Janine Katzberg - Projects Director
Anya Nipper - Project Coordination Director
Dr. Jean-Marcel Guillon - Chief Executive Officer
Joyce - Pricing Manager
Matt Thwaites - Commercial Director
Aashish Kapoor - Head of Marketing
Kelly Vo - Founder & Host
Thanyachat Auttanukune - Board of Management
Hamish Glendinning - Business Lead
Thuy Le - Consumer Insight Manager
Richard Willis - Director
Ha Dinh - Project Lead
Geert Heestermans - Marketing Director
Louise Knox - Consumer Technical Insights
Aimee Shear - Senior Research Executive
Dennis Kurnia - Head of Consumer Insights
Tania Desela - Senior Product Manager
Thu Phung - CTI Manager
Linda Yeoh - CMI Manager
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