Minister Of Trade Budi Optimistic Transaction Value At Harbolnas Reaches IDR 40 Trillion

Minister of Trade Budi Santoso. (Photo: Doc. Antara)

JAKARTA - The Minister of Trade (Mendag) Budi Santoso is optimistic that the transaction value on the 2024 National Online Shopping Day (Harbolnas) will reach IDR 40 trillion.

According to Budi, this figure will experience a significant increase compared to last year, which reached IDR 25.7 trillion.

"In this year's Harbolnas implementation, we hope that transactions can reach IDR 40 trillion according to the target conveyed by the Indonesian E-commerce Association (idEA), last year, the transaction value reached IDR 25.7 trillion. We are optimistic that the target will be achieved during the 2024 Harbolnas implementation," Budi said in his statement, quoted from Antara, Friday, December 13.

Harbolnas transaction value continues to increase from year to year. In fact, the transaction value in 2023 of IDR 25.7 trillion is an increase of 182 percent when compared to the implementation of the inaugural Harbolnas in 2019.

Local product transactions contributed IDR 12.3 trillion, or 48.1 percent of the total transaction value of Harbolnas 2023.

Budi said local products are a reflection of the creativity and enthusiasm of Indonesian business actors who contribute to the domestic economy.

On the other hand, to achieve Indonesia's economic growth target of eight percent in 2028-2029, close cooperation from various parties is needed.

"Let's work together to help local products progress by using their own products," said the Trade Minister.

He also said that electronic commerce is one way to introduce domestic products, is a meeting point for sellers with buyers, and strengthens branding.

In this case, Budi emphasized, local products need to be packaged in such a way so that the quality of the goods is not inferior to foreign products.

Furthermore, large domestic markets must be utilized as well as possible by products from their own country. He also invited more MSME players to maximize the promotion and expansion of the domestic market through electronic trading platforms.

The use of digital technology can play a role in maintaining buyer loyalty to MSME products. The consistency that is built from buyers of this loyal local product, according to him, can also play a role in protecting the domestic market.

"When consumers get to know Indonesian products, then use them, and it turns out that their testimonials are good, a way to protect the domestic market voluntarily is formed. This model can help protect the domestic market from many foreign products," he said.