The Covid-19 crisis is significantly changing purchasing behaviours and decisions of consumers in Indonesia. Global strategy consulting firm McKinsey & Company polled over 700 Indonesian consumers to find out more about their shifting mindsets – eight charts from the firm’s 30-page slide deck outlining the main findings.
Indonesians are becoming more mindful of how they spend their money and are increasingly looking for ways to save.
Consumers are much more likely to trade down to less expensive brands this year than last year.
Most Indonesians plan to reduce holiday spending this year, regardless of income level.
The online revolution
More people expect to make a portion of their purchases online post-Covid-19 than before.
Indonesians have intensified the usage of restaurant and grocery delivery and intend to continue these habits post-Covid-19.
More than 60 percent of Indonesian consumers cite value and convenience as drivers for trying new places to shop.
Most Indonesians are concerned about attending large events, using public transportation, and traveling by airplane.
Despite the announcement of the vaccine, around 60% of Indonesians believe the personal and financial impact from Covid-19 will last longer than four months.
In related news, McKinsey & Company recently released a similar analysis on changing consumer behaviour in the UK.