FMCG Monitor Q3 2023
Kantar Indonesia's FMCG Monitor is a quarterly report that provides insights into the performance of the Indonesian FMCG In-home market across sectors and highlights the latest trends. We continuously engage with consumers on a weekly basis across the country to provide you with comprehensive insights into the market.
This quarter, the report highlights the coping mechanism from the consumers in answering to the elongated effect of inflation. Basic needs is still prioritized and grabbing value-for-money products is their way to go. The report also signals hints on the lookout of 2024, especially the next year being the election year, as we are approaching the end of year.
Glimpse of key insights from this quarter:
- Household spending allocation remains on basic needs such as food, FMCG, Utilities, and Transportation, which drive the spending growth, indicating spending rationalization might happen for those essentials.
- Growth is still driven by price increases and recovery on volume growth has not been seen yet in this quarter, suggesting shoppers might still hold their spending as a coping mechanism.????
- Within the F & B and Dairy sectors, achieving volume growth is proving to be a challenge as price increase continues, thus recruitment efforts may focus on price and pack strategy.
- Aside from the conventional retail channels, there is potential value in broadening our presence and establishing a cohesive omnichannel strategy to reach more shoppers.