RI's fast-moving consumer goods industry grows 11.8%

The Jakarta Post, Jakarta | Tue, 04/19/2011

Indonesia has recorded an 11.8 percent growth in its fast-moving consumer goods industry in 2010, a result of an improving economic condition, Nielsen says.

“Consumers are now more willing to spend money; they tend to be buying products they would not have considered earlier,” Nielsen client leadership executive director Venu Madhav said Tuesday in Jakarta.

He added that the shift in consumer behavior had occurred across the upper to lower-middle class.

Venu also said the upper-class tended to spend more on products with added value, “Although these could be double in price”.

He added hair conditioner, milk and toothpaste were among products upper-class consumers spent considerably more on last year.