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Jakarta Post

Analysis: Resilience in COVID-19 — A silver lining from RI's consumers

  • Aparna Bharadwaj, Haikal Siregar and Patrick Witschi

Jakarta   /   Mon, May 4 2020   /  01:49 am

Indonesia’s emerging market success story is facing a remarkable challenge in the era of COVID-19. Consumer sentiment will play an important role in determining the nation’s economic trajectory in the wake of this global pandemic.

Boston Consulting Group’s (BCG) Center for Consumer Insights engaged with more than 1,500 citizens across Indonesia in over 45 categories to understand behaviors and perceptions during this time of unprecedented disruption. This study revealed Indonesian consumers have a cautious short-term outlook, with 87 percent of respondents noting their fear of COVID-19, the most cautious in Southeast Asia. This fear was tempered by optimism, with 79 percent of respondents believing the economy will improve within the next year. That compares to just 44 percent in regional neighbor Thailand.

Consumer sentiment represents a leading indicator that will b...