The retail market in Indonesia is expected to post a CAGR of close to 6% during the period 2019-2023, according to the latest market research report by Technavio.
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Technavio has published a new market research report on the retail market in Indonesia from 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of the retail market size in Indonesia is the expansion of the retail landscape. The organized retail market in Indonesia is growing significantly across the country with companies expanding stores and considering the business potential in new areas. Most of the unorganized retail outlets are increasingly being replaced with big retail hypermarkets, supermarkets, and other retail chains. This is expected to continue on a large scale during the forecast period, which will significantly lead to the market growth of the Indonesian retail sector.
As per Technavio, the growth in e-commerce will have a positive impact on the market and contribute to its growth significantly over the forecast period. This retail market in Indonesia 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Retail market in Indonesia: Growth in e-commerce
Many small and established Indonesian retail brands are going online, resulting in a significant boom in Internet shopping in the region. With Internet connectivity becoming more robust and affordable, consumers are beginning to feel secure and comfortable while purchasing online. The online channel will present immense opportunities for retailers in Indonesia during the forecast period. Moreover, the growth of m-commerce is expected to support the growth of the online retail segment in Indonesia during the next five years.
“Apart from the growth in the e-commerce marketplace, other factors such as the growing preference for local brands, rise in tourism, and the rising marketing activities by retailers will have a significant impact on the growth of the Indonesian retailing market during the forecast period,” says a senior analyst at Technavio.
Retail market in Indonesia: Segmentation analysis
This market research report segments the retail market in Indonesia by product (food and beverages, electrical and electronics, apparel and footwear, home improvement and household products, and others), and retail format (convenience stores; department stores; drugstores and pharmacies; supermarkets and hypermarkets; and online retailers).
Convenience stores were the largest segment of the Indonesian retail industry in 2018 and it is expected to maintain its position as the largest market through 2023. These stores offer everyday products such as groceries, confectionaries, snacks, soft drinks, personal care products, toiletries, and other regular use items. Some of the popular convenience stores in Indonesia include Alfamart, Indomart, PT Midi Utama Indonesia Tbk (Alfamidi), and PT Trans Retail Indonesia (Carrefour).
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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