Capturing the next frontier opportunities in the Indonesian e-commerce landscape

As Indonesia’s largest commerce businesses approach IPO scale and considering the dominance of Shopee, Tokopedia, Bukalapak, and Lazada, there can be few opportunities left in the e-commerce space.

However, even as the pandemic shifts online purchase behaviour to overdrive, our estimates put total e-commerce as a percentage of retail sales in Indonesia at just over 10 per cent.

Compared to more developed markets like China, with ~25 per cent e-commerce penetration, there is still room for multiples times of growth.

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