Table of Contents
“NEW YEAR, NEW ME!!!”
What is the resolution for your business in 2023? Business expansion? Increase profitability? Create a breakthrough? It doesn’t have to be a 100% new mission. You can start by improving existing products or marketing strategies following current business trends.
Business trends are not definite and will keep changing from time to time. However, it can still be predicted. Since 2022, the digital economy trend has been growing. Based on a market research platform, Research and Markets, Indonesia will become one of the digital economic powers in Southeast Asia, accounting for 40% of the total market share. Moreover, the digital market in Indonesia is predicted to continue to grow until 2026.
Interesting right?
Distri has observed several consumer behaviors, particularly regarding this digital trend, which has successfully dominated the industry. This trend could be a promising business opportunity for your business! What are the trends?
Business opportunities in 2023 that shouldn’t be missed
1. Online shopping
Due to highly restricted outdoor activities to prevent transmission of the COVID-19 virus, since the beginning of the pandemic, online transactions have increased significantly. This activity has continued and even become a common habit today. This is supported by several market surveys, which state that there is an increase in online shopping via mobile devices.
With cell phones, consumers can search for any item they want through an e-commerce app or website without moving from their place. Because online shopping services are more practical, easy, and fast, this trend has excellent potential to continue to thrive for the next few years.
This trend could be one of the new business opportunities for you. Consider the above for forming sales and marketing strategies, calculating budgets, and potential income if you want to create e-commerce.
If you previously had an offline store, make sure that in 2023 your store has online sales services. It doesn’t have to be e-commerce; any medium is okay; what’s essential is that customers can order your products from their mobile!
However, before jumping into e-commerce, one more important thing to consider…
Is your product suitable for e-commerce or other online sales media?
2. Digital Payments
Along with the increasing interest of Indonesian people in shopping online, digital payment services have also increased. Last February, Bank Indonesia (BI) stated that there was a growth in the value of electronic money (e-money) transactions by 41.35% or reaching IDR 27.1 trillion.
Apart from the cash-on-delivery method, the most popular digital payment methods include digital wallets (e-wallets), bank transfers, virtual accounts, and QR codes. The main attraction of this method is that it is easy and practical to make transactions. Moreover, some e-commerce has e-wallets that are directly connected without the need of opening other applications to make payments.
Suppose your business has a variety of online payment methods, of course. In that case, it will be a plus, especially if there is a PayLater (installment) option. Based on a survey conducted by Katadata Insight Center (KIC) and Kredivo, 38% of consumers have used PayLater in the past year, and 45% of consumers are interested in PayLater due to attractive promos.
But, before deciding to implement the PayLater method, your business should study and consider carefully, does the customer profile match this payment method?
3. Hyperlocal trend
Over the past two years, the hyperlocal trend has been on the rise. Hyperlocal trend means consumers prefer to buy goods that can be delivered faster or arrive on the same day. Consumers prefer outlets that can send goods more quickly than waiting for imported goods to arrive. This is very beneficial for local entrepreneurs, especially SMEs.
This trend has a positive impact because apart from supporting local entrepreneurs, especially SMEs, to continue to grow and develop, it can also increase domestic economic growth. One platform that has implemented this trend is Tokopedia.
Therefore, make sure your business is agile & fast in processing orders! You can also use instant delivery service features such as Same Day (goods arrive on the same day) or Next Day (goods arrive tomorrow).
4. Social Media Ads
Today, who doesn’t have social media accounts? Not only Gen Z & millennials, but now the generation with an older age range (Gen X) must also have at least one social media, for example, Facebook. Not only as a tool for communicating and sharing interesting information, but social media is now also a promotional tool with various features that support sales activities.
With the inclusion of social media in their daily routine, many people find it easier to be tempted by advertisements on social media platforms. This is why promotion on the platform is one of the most effective marketing strategies.
- Reach more people from all over the world
- Practical and fast delivery of information, content, and promotions
- Easier to analyze things that are trending, so that businesses can innovate according to market conditions
- Increase brand awareness
- Establish connections with customers
Create a sales and marketing strategy and set aside a budget. Actively promote your products on social media, especially Facebook, Instagram, and even Tiktok. Show brand value so that consumers are interested in your product. Providing attractive promos is even better, so consumers are even more tempted to buy them!
