An open attitude a must when investing in Indonesia

YOUNG companies are rightly looking towards Indonesia to test-bed their business models. In doing so, they open up an opportunity for themselves - they get a head start into expanding into the country, tapping its large population, fast-growing economy and highly digital rising middle class.

However, there are a few things to note when entering the market. The first is that the Indonesian customer is different. What may be seen in Singapore as a premier product, for instance, may not be received as such in Indonesia where tastes are different.

Therefore, one needs to have an iteration mindset. Test, refine and relaunch. Knowing what resonates with customers when it comes to the go-to-market plan, product features and price is key.