Indonesia Conversational Commerce Market Intelligence and Future Growth Dynamics Databook – 75+ KPIs on Conversational Commerce Trends by End-Use Sectors, Operational KPIs, Product Offering, and Spend By Application - Q2 2023 Update

Indonesia Conversational Commerce Market Intelligence and Future Growth Dynamics Databook – 75+ KPIs on Conversational Commerce Trends by End-Use Sectors, Operational KPIs, Product Offering, and Spend By Application - Q2 2023 Update

According to PayNXT360, conversational commerce industry in Indonesia is expected to grow by 21.9% on annual basis to reach US$13.1 billion in 2023.

The conversational commerce industry is expected to grow steadily over the forecast period, recording a CAGR of 19.0% during 2022-2028. The conversational commerce transaction value in the country will increase from US$13.1 billion in 2023 to reach US$31.2 billion by 2028.

Conversational commerce, an approach to e-commerce, is rapidly gaining popularity in Indonesia. The country's increasing internet penetration and booming e-commerce industry make it a prime market for conversational commerce, and over the next five years, PayNXT360 expects to see significant growth in this sector. This increased comfort with digital tools and services has also created a perfect growth environment for the conversational commerce market in Indonesia.

Consumers are increasingly turning to messaging platforms such as WhatsApp to interact with businesses, and companies are responding by investing in these technologies to improve their customer service and support. As a result, PayNXT360 expects to see more businesses adopting conversational commerce solutions over the next five years, which will further drive growth in this Indonesian market. In addition to these factors, Indonesia's innovative startup ecosystem will also aid in the growth of the conversational commerce industry.

Indonesian consumers are more likely to purchase products from retailers who are responsive to chats

Over the last few years, the e-commerce industry has evolved significantly in the Indonesian market. From conventional online shopping channels to Conversational Commerce platforms and conversational commerce, a significant transformation is taking place in the market and this has coincided with changes in consumer behaviour.
• According to a report from Facebook and BCG, 94% of the consumers in Indonesia stated that they are more likely to buy products and services from retailers and brands that are responsive to chat. This shows that retailers can drive their revenue and sales growth by incorporating conversational commerce tools into their sales funnel.
As the access to internet and smartphone continues to grow in the Indonesian market, PayNXT360 expects more and more consumers to adopt conversational commerce channels to buy products and services. This will lead to more brands and retailers implementing conversational commerce capabilities into their business model, thereby aiding the growth of the sector from the short to medium-term perspective.

Startups are driving innovation and conversational commerce market growth in Indonesia

With the rise of messaging apps and chatbots, conversational commerce has become an essential part of the e-commerce landscape. As the market continues to grow in Indonesia, firms are seeking innovative solutions to meet the changing needs of customers.
• Keyta, a conversational commerce startup, is driving innovation in this space, helping to shape the future of conversational commerce. Smartphones have become an integral part of consumers’ daily lives, and they rely on them for various tasks, including communication. Consequently, the firm has developed an innovative solution that is built on smart keyboard technology.
• The platform also offers support for invoice creation, transaction management, payment processing, and delivery fulfillment. Keytas can be integrated with different e-commerce platforms, allowing businesses to manage these activities seamlessly, regardless of the platform they use to serve their customers.

From the short to medium-term perspective, PayNXT360 expects more such conversational commerce startups to launch innovative products and services into the Indonesian market. This will also drive the competitive landscape and industry growth over the next three to four years.

This report provides a detailed data centric analysis of conversational commerce industry, covering market opportunities and risks. With over 50+ KPIs at country level, this report provides a comprehensive understanding of conversational commerce market dynamics, market size and forecast, and market share statistics.

PayNXT360’s research methodology is based on industry best practices. Its unbiased analysis leverages a proprietary analytics platform to offer a detailed view on emerging business and investment market opportunities.

Scope

This report provides in-depth, data-centric analysis of conversational commerce in Indonesia. Below is a summary of key market segments:

Indonesia Conversational Commerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators
• Transaction Value
• Transaction Volume
• Average Value Per Transaction

Indonesia Conversational Commerce Industry Market Size and Forecast by Virtual Assistant Type
• AI-Based Virtual Assistants
• Non-Intelligent Chatbot

Indonesia Conversational Commerce Industry Market Size and Forecast by Virtual Assistant Type
• Chatbots
• Digital Voice Assistants
• OTT Messaging
• RCS Messaging

Indonesia Conversational Commerce Industry Market Size and Forecast by Chatbots
• Web-Based
• App-Based

Indonesia Conversational Commerce Industry Market Size and Forecast by Key Sectors
• Retail Shopping
• Travel & Hospitality
• Online Food Service
• Media and Entertainment
• Healthcare and Wellness
• Financial Services
• Technology Products and Services
• Other Sectors

Indonesia Conversational Commerce Industry Market Size and Forecast in Key Sectors by Product Offering
• Retail Shopping * By Chatbots
• Travel & Hospitality * By Chatbots
• Online Food Service * By Chatbots
• Media and Entertainment * By Chatbots
• Healthcare and Wellness * By Chatbots
• Financial Services * By Chatbots
• Technology Products and Services * By Chatbots
• Other Sectors * By Chatbots

• Retail Shopping * By Digital Voice Assistants
• Travel & Hospitality * By Digital Voice Assistants
• Online Food Service * By Digital Voice Assistants
• Media and Entertainment * By Digital Voice Assistants
• Healthcare and Wellness * By Digital Voice Assistants
• Financial Services * By Digital Voice Assistants
• Technology Products and Services * By Digital Voice Assistants
• Other Sectors * By Digital Voice Assistants

• Retail Shopping * By OTT Messaging
• Travel & Hospitality * By OTT Messaging
• Online Food Service * By OTT Messaging
• Media and Entertainment * By OTT Messaging
• Healthcare and Wellness * By OTT Messaging
• Financial Services * By OTT Messaging
• Technology Products and Services * By OTT Messaging
• Other Sectors * By OTT Messaging

• Retail Shopping * By RCS Messaging
• Travel & Hospitality * By RCS Messaging
• Online Food Service * By RCS Messaging
• Media and Entertainment * By RCS Messaging
• Healthcare and Wellness * By RCS Messaging
• Financial Services * By RCS Messaging
• Technology Products and Services * By RCS Messaging
• Other Sectors * By RCS Messaging

Indonesia Conversational Commerce Industry Market Size and Forecast by Organization Size
• Large Enterprise
• Medium-Sized Enterprise
• Small Enterprise

Indonesia Total Spend on Conversational Commerce Market

Indonesia Conversational Commerce Industry Market Size and Forecast by Spend on Application
• Software Application
• IT Services
• Consulting Services

Indonesia Conversational Commerce Spend on Key Sectors
• Retail Shopping
• Travel & Hospitality
• Online Food Service
• Media and Entertainment
• Healthcare and Wellness
• Financial Services
• Technology Products and Services
• Other Sectors

Reasons to buy

• In-depth Understanding of Indonesia Conversational Commerce Market Dynamics: Understand market opportunities and key trends along with forecast in Indonesia.
• Insights into Opportunity by end-use sectors: Get market dynamics by end-use sectors to assess emerging opportunity across various end-use sectors.
• Insights into Opportunity by products: Get market dynamics by key products of conversational commerce.
• Develop Market Specific Strategies: Identify growth segments and target specific opportunities.
• Develop proactive and lucrative business strategies through market intelligence and forward-looking analysis of conversational market opportunities in Indonesia.