Indonesia has one of the largest economies in Southeast Asia. It has become a lucrative market for multinational retail companies. The country has seen a robust economic growth over the years. Even luxury brands reached to the Indonesian market.
Indonesia as a Target Market
Indonesia is one of the most populated countries in Southeast Asia. It has a population of 250 million people.
There’s an increase in domestic consumption of the middle-income classes and young population. In 2012, disposable income registered at double digit compound annual growth rates. There’s also higher per capita consumption expenditure.
These helped in the increase of spending towards non-food items. These retail items include clothing, healthcare, and communications.
Spending on non-necessities also grew. These items include household appliances, jewelry, watches and other high-end products. The rate of increase is faster than the ASEAN average.
Global Brands in Indonesia
In 2014, many global brands saw Indonesia as a lucrative market. Major global retailing companies entered the Indonesian market.
Those brands that are already in Indonesia continued their expansion activities. They added retail stores in major cities across Indonesia.
Luxury brands believe in the potential of the Indonesian market. The steady economic growth is a big factor. They are also encouraged by the stabilizing political environment.
Indonesian consumers show a liking to quality products. The growing number of consumers is demanding more choices.
Learn more about Luxury Brands in Indonesia
Reaching out to Indonesian Consumers
Indonesian consumers are slowly being introduced to global brands. It is time to enter the retail market.
Indonesia ranks fourth in the most important Emerging Markets for Consumer and Retail survey. The retail market has opened its doors to global products.
Many companies choose to localize their products for the Indonesian market. Instant connection with the consumer is important.
One of the ways to effectively localize products is through translating marketing materials. Labels, instructions and packaging should be in Bahasa Indonesia.
English is fast becoming a popular language. But product packaging in Bahasa Indonesia has a larger appeal.
Translating marketing materials and product packaging to Bahasa Indonesia is a must. It makes your product stand-out from the other goods.
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