Understanding the consumer in your target country is one of many strategies to win the competition in the market. If you are planning to expand to Indonesia, prepare yourself with the latest Indonesia consumer trends before you start developing the best strategy to enter the market.
Indonesia is the biggest economy in Southeast Asia. This country offers many opportunities to many businesses that are willing to enter the big market in Indonesia. If you want to engage Indonesian consumers successfully, you must be aware of the current trends in Indonesian consumers.
Indonesian Consumers Start Moving to Digital Payment
Since the pandemic spread to the country, digital adoption grew better. Many consumers, not only in Indonesia, start adopting digital payment. Indonesia and some other emerging economies also witness some significant increase especially in the adoption of digital or e-payment technology.
Only in one year, the technologies of digital payment became more in demand. Over 40 providers of electronic payment are now operating in this country. The most famous providers are GoPay, OVO, Dana, and LinkAja. Those digital payment providers have partnered with over 200,000 micro SMEs.
Digital Commerce Among Indonesia Consumer Trends
High internet and mobile penetration rate, the industry of e-commerce in the country has been rapidly growing, especially since the pandemic accelerated the growth. Because of the Large Scale Social Restriction, the consumer trends in Indonesia have changed.
People turned to social commerce and e-commerce platforms in order to get the daily necessities, including health items, groceries, and other products. Indonesian females within the 18 to 24 years old range are the most active consumers for e-commerce.
Indonesian Spending Habits Have Changed
In a survey that was conducted in April 2020, two-thirds of respondents in Indonesia indicated that they believe the pandemic will negatively impact Indonesian people’s ability to fulfill their daily needs. Eighty three percent of them become more cautious with their spending.
Many respondents are no longer willing to spend on some non-essentials such as hotel stays, apparel purchases, and dining out. Most of them are also trying to find the best ways to save their money by switching to much cheaper alternatives.
Consumers that become more picky with the purchases make businesses have to find some innovative and new ways in order to provide more value while attracting the target audience.
Indonesia Market Research to Attract the Consumers
To engage the consumers, you must optimize the strategy of customer experience. First of all, you need to have a better view of the customers, market, and brand. You can do it by having the in-depth view of the customer data across each touchpoint and channel.
Use interviews, chats, surveys, focus groups, social media, customer reviews, forums, blogs, and Net Promoter Score to know what your target consumers want. Then you can prepare the products or services they need the most during the difficult times.
Make sure you choose the best team to observe and conduct the research about Indonesia consumer trends. It is the very first step for you to grow the business and expand to the Southeast Asia countries.