Retail value sales of luxury goods in Indonesia grew by 11% in 2023 in current terms to amount to IDR36.3 trillion.
In 2023, sales of luxury goods increased even though there were headwinds caused by the cost-of-living crisis, the war in Ukraine, supply-chain issues and inflation. Indonesia is also home to numerous affluent adults, with 94,500 calling the country home in 2023.
The luxury goods industry is still highly competitive. With people making more mindful consumption choices, luxury players are focusing more on creating innovative products that offer consumers value, ensuring that their products and the services they offer are affordable and competitive.
Luxury retail is currently undergoing changes, with digitalisation changing where consumers shop and how they engage with luxury brands and retailers. As a result, many consumers are increasingly drawn to online shopping, forcing retailers to adapt and improve their physical stores in response.
Luxury goods has a bright future ahead, with demand that built up during the pandemic looking set to lead to consumers increasingly buying high-end luxury goods during the forecast period. Retail sales of luxury goods in Indonesia are predicted to increase at a CAGR of 10% in current value terms (6% constant 2023 value CAGR) over the forecast period to amount to IDR57.
Delivery:
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
This report comes in PDF with additional info in Excel included.
Understand the latest market trends and future growth opportunities for the Luxury Goods industry in Indonesia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:
If you're in the Luxury Goods industry in Indonesia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Luxury Goods
This is an aggregation of: Personal Luxury, Fine Wines/Champagne and Spirits, Luxury Cars and Experiential Luxury.
See All of Our DefinitionsThis report originates from Passport, our Luxury Goods research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!