In Indonesia, optimism on future economic conditions increased more than 15 percent over March 2022. Spending is expected to decline, with income and savings to grow. Regardless of the decreased spend, more are engaging in out-of-home activities, with modified behavior. Use of social media, food delivery and digital banking are some behaviors that are expected to continue post-COVID-19. Shopping behavior changes are also visible, with consumers most likely to switch retailer/brand/product in the event of stockouts; price is a primary driver. Majority of consumers perceive price increases across categories. Consumers are then most likely to pay the additional premium due to price increase or decide switch brands.
These exhibits are based on survey data collected in Indonesia on August 23-30, 2022. Check back for regular updates on Indonesian consumer sentiments, behaviors, income, spending, and expectations.