Indonesian Consumer Spending Gains Momentum in Q4 2025

Strong Consumption Trends Observed

Indonesian consumer spending showed remarkable resilience and growth in the fourth quarter of 2025. Multiple indicators and economic analyses confirm this positive trend across various consumer segments. The Ministry of Finance reported that consumption and national economic mobility indicators maintained a positive trajectory, reflecting sustained purchasing power ²

Key Economic Indicators

1. Retail Sales Performance: The real sales index reached 5.94 in November 2025, driven primarily by food and beverage categories as well as automotive-related segments ²
   Source 2

   https://nasional.kontan.co.id/news/purbaya-buktikan-daya-beli-masyarakat-meningkat-jelang-nataru
   .
2. Transaction Volume: BCA's Big Data analysis revealed a significant 4.5% year-on-year increase in the transaction index by mid-December 2025, indicating robust consumer activity ³
   Source 3

   https://keuangan.kontan.co.id/news/belanja-masyarakat-mulai-ngebut-di-kuartal-iv-semua-segmen-mal-penuh
   .
3. Government Support Measures: The government implemented various policy measures to boost consumption, including maintaining certain tariff levels and adjusting minimum wages based on inflation and economic growth ¹
   Source 1

   https://nasional.kontan.co.id/news/relaksasi-tarif-dan-kenaikan-ump-belum-cukup-dorong-konsumsi-masyarakat-tahun-depan
   .

Sectoral Impact

The surge in consumer spending was evident across various retail segments. Shopping malls reported full capacity during the period, reflecting increased consumer confidence and spending power. The food and beverage sector, along with automotive-related businesses, showed particularly strong performance ²

Government Policy Effectiveness

The government's policy decisions, including the decision to maintain certain tariff levels and implement wage adjustments, appear to be supporting consumption. However, analysts suggest that these measures may not be sufficient to maintain long-term consumption momentum without additional economic stimulus ¹