The value of online shopping transactions carried out by Indonesian citizens in October 2023 reached IDR 42.2 trillion, with fashion marketplaces being the most popular. Filianingsih Hendarta, Deputy Governor of Bank Indonesia (BI), stated that the transaction amount increased by 10.69 percent on a monthly basis (month to month/mtm) or 4.99 percent year on year (yoy).

This total includes 361.54 million online shopping transactions, with a growth rate of 8.13 percent mtm or 32.04 percent annually.

"In terms of product categories, the top three include fashion, personal care and cosmetics, as well as household and office items," explained Fili in a virtual press conference on Thursday (23/11).

According to Fili, two main factors support the increasing trend of e-commerce shopping. First, the broader acceptance of online shopping culture by the Indonesian public. Second, various promotions on special dates contribute to increased sales on online platforms.

BI Governor Perry Warjiyo mentioned that they have analyzed the trend of Indonesian citizens' shopping on e-commerce and found two significant outcomes. First, he noted that transactions on online platforms accelerate the turnover of money, enhancing the efficiency and productivity of the community.

"Previously, people had to go out and visit physical stores for shopping, which took time. Now, the process can be faster, especially with QRIS and BI Fast," explained Perry.

"Second, in terms of prices, shopping through e-commerce also reduces costs. This also supports inflation control, especially for the prices of daily necessities. The components traded on e-commerce also contribute to inflation control because their prices can be more affordable," he concluded.