Indonesian Consumers Spent IDR256 Trillion On FMCG And Technology Products

Indonesian Consumers Spent IDR256 Trillion On FMCG And Technology Products

, 01 Dec 2024

In the third quarter of 2024, consumers in Indonesia spent IDR 256 trillion on fast-moving consumer goods (FMCG) and consumer technology, reflecting a 1.7% increase from the same period last year. FMCG accounted for 81% of this spending, while consumer tech made up 19%.

Specifically, IDR 208 trillion was spent on FMCG products, which is a 1.1% rise compared to last year. The growth rate for the FMCG sector improved from 0.2% in the second quarter of 2024 to 1.1% in the third quarter. This growth is in line with the overall economic performance, which expanded by 4.9% year-on-year in Q3 2024, with a 1.5% increase from the previous quarter. Inflation also eased to 1.8%.

The positive trend is evident in category performance, with beverages and ambient food leading the FMCG growth, surpassing Q2 results. Beverages grew by 6.0% in Q3, up 3.9% from the previous quarter. Ambient food saw a significant rise from 1.9% growth in Q2 to 6.6% in Q3. The snacking category also showed strong growth, increasing from 3.6% to 9.5% in Q3 2024. With ongoing economic growth and lower inflation, FMCG opportunities are expected to increase in the next quarter, especially with the holiday season approaching in Q4 2024.

The tech and durables market also showed a positive trend in Q3, with an overall growth of 4.3% year-on-year, mainly driven by the technical consumer goods sector, which grew by 6.2% in Q3 and 12.7% over the past year.

In terms of sector performance, the growth in technical consumer goods was mainly fueled by the IT and telecommunications sectors, as consumers shifted towards higher-value products. However, the DIY and home improvement sector faced difficulties, experiencing a decline of 14.8%, primarily due to a 16.9% drop in LED lamp sales. The home appliances sector also faced challenges.

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