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Total revenue from ecommerce in Indonesia only this year is predicted to reach $6.96 billion, and projected to rise to $14.47 billion by 2021, meaning that total revenue will double in four years, according to ecommerceiq.asia.
Statista data shows us what businesses looking at the Indonesian market should keep in mind for the next few years.
Fashion is a leading vertical in ecommerce
Fashion consistently dominates as the country’s top selling vertical in online retail and is predicted to increase in revenue every year until 2021.
Fashion 2016: $1.99 billion total revenue
Fashion 2017: $2.47 billion total revenue
Fashion 2021: $5.32 billion total revenue
Current key players in fashion ecommerce: Matahari Department Store, Salestock, Zalora, Lyke, Berrybenka, muslim fashion store Hijup, and Kuki.
Food and personal care to experience slow growth
The total revenue for online food and personal care in 2016 was $0.49 billion, and predicted to reach $0.71 billion by 2018. By 2021, food and personal care online revenues are projected to reach $1.07 billion, trailing behind verticals such as electronics, fashion and furniture but still expected to double.
Furniture and appliances to experience steady rise
The graph suggests that more Indonesians will be jumping online to buy couches and chairs. A few first movers in the furniture industry such as Fabelio will be a part of the market that is expected to bring in a total revenue of $1.18 billion and predicted to rise to $2.39 billion by 2021.
Indonesia’s ecommerce market as a whole is set to grow.All verticals ranging from fashion to toys are all poised to experience 2X growth by 2021 as internet penetration is going to jump from 13% to 21% by 2021.