Open Labs said that 2021 was an incredible year for the business world regardless of the challenges. The COVID-19 pandemic that occurred is definitely a factor that has a big impact on the eCommerce sector in Indonesia.
Referring to the experiences and conditions of the past two years and assuming developments in 2022, Open Labs projects the emerging eCommerce trends in Indonesia this year.
Open Labs CEO Jeffrey Yuwono said, quite optimistic about the growth landscape of Indonesian eCommerce in 2022. This is demonstrated by the steady growth of Indonesian eCommerce in recent years.
The latest report from – Technology-empowered Digital Trade in Asia Pacific – the total size of Indonesia’s eCommerce market reached US$ 43,351 billion (RP 628.6 trillion) in 2021. The size of the market shows the potential of Indonesian eCommerce close to the potential of South Korea and China.
Here are some trends in the Indonesian eCommerce industry to watch out for in 2022, according to Open Labs, are:
The first trend is the moderate growth of Indonesian e-commerce. Indonesia’s GDP is projected to grow only about 5% and this not large GDP growth means that the purchasing power of Indonesian consumers will not drastically increase in 2022. Taking these things into account, Open Labs believes the growth of Indonesia’s eCommerce sector will be at a moderate level.
The second trend is that in 2021, Indonesia’s GMV (gross merchandise value) reached a total value of $70 billion – which means a year-on-year increase of 49% growth. The rapid increase was supported by 52% growth in the eCommerce sector (e-Conomy SEA 2021).
Projected by 2025, the internet-based economy as a whole is predicted to reach $146 billion, with a compound annual growth rate (CAGR) of 20%. The report also states that by 2030, Indonesia’s digital economy will be expected to grow 5-fold to reach US$330 billion (Rp 4,702 trillion).
And third, Open Labs predicts that fashion/beauty and food will remain the number 1 category in the eCommerce field in terms of the number of businesses and the total value of sales. Fourth, live streaming as well as fifth is a security trend.
It’s only a matter of time that this trend will dominate Indonesia. Since we are still in the midst of a pandemic this year, our research team has concluded that this trend will be a big trend for Indonesian eCommerce in 2022.
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