Sales of luxury goods in Indonesia saw a robust performance in 2024 supported by an economic recovery and healthy GDP growth. The number of High Net Worth Individuals (HNWIs) and Ultra High Net Worth Individuals (UHNWIs) in the country is rising while there was also an increase in international tourism in 2024 all of which boosted sales of luxury goods.
The positive performance of luxury goods in Indonesia was influenced by several trends and factors in 2024. These included steady economic growth and an ongoing recovery from the impact of the pandemic with Indonesia reporting GDP growth of 4.
Luxury goods in Indonesia is characterised by the presence of both international and local brands. Major international brands like Moët Hennessy, Pernod Ricard, Mercedes-Benz, BMW, Marriot International, Hyatt, and Rolex already hold a strong and well-established market presence.
Shopping has become an integral part of daily life for some Indonesians, with the Ministry of Trade stating that the retail sector contributed significantly to Indonesia's economic growth in 2023. Local consumers and tourists are increasingly looking for unique and engaging in-store experiences when it comes to luxury goods, with there being a rise in the number of premium shopping malls that attract both international and local luxury brands.
Sustainability is likely to remain a major focus within the luxury goods market in Indonesia over the forecast period. Local and international brands are increasing their focus on eco-friendly practices and ethical sourcing to appeal to environmentally conscious consumers.
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Understand the latest market trends and future growth opportunities for the Luxury Goods industry in Indonesia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:
If you're in the Luxury Goods industry in Indonesia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Luxury Goods
This is an aggregation of: Personal Luxury, Fine Wines/Champagne and Spirits, Luxury Cars and Experiential Luxury.
See all of our definitionsThis report originates from Passport, our Luxury Goods research and analysis database.
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