Indonesia e-commerce firm Bukalapak to stop selling physical goods – report

0
13K

Indonesian e-commerce firm Bukalapak said on Tuesday that it would stop selling physical items on its marketplace soon, Reuters reported.

The announcement came amid tough competition from TikTok’s Tokopedia and Sea Ltd’s Shopee in Southeast Asia’s largest economy.

Bukalapak, which went public in 2021, said in a statement that it later would only sell virtual products ranging from mobile phone credits to streaming vouchers.

“Bukalapak will undergo a transformation in an effort to increase focus on virtual products … we fully understand that these changes will impact the sellers and we are committed to making this transition as smooth as possible,” the company said.

Customers have until Feb 9 to make last orders for certain items, Bukalapak added.

Over the three years since its listing, Bukalapak has faced fierce competition from Indonesia’s e-commerce market leader Shopee, which is owned by Southeast Asian technology firm Sea, and from Tokopedia, according to the report.

Tokopedia, another homegrown e-commerce company, is now majority owned by ByteDance’s TikTok, which acquired 75.01 percent of the shares from local tech conglomerate GoTo early last year, the report added.

Bukalapak reported a loss of 593.23 billion rupiah ($36.62 million) in the first nine months of 2024, according to its latest financial results.

 

#Bukalapak #Ecommerce #VirtualProducts #SoutheastAsia #Competition

Sponsored
Search
Sponsored
Categories
Read More
Other
VinFast launches made-in-India EV
Vietnamese electric vehicles (EVs) maker VinFast has officially launched its premium electric...
By Ifvex 2025-09-11 06:12:31 0 2K
Networking
Malaysia government to establish sovereign AI cloud to safeguard national capabilities
The Malaysia government will establish a sovereign AI cloud to ensure the country’s...
By Ifvex 2025-10-03 12:06:23 0 2K
Networking
SoftBank, Meta, and others team up to build submarine cable system connecting Japan and Singapore
Japan-based SoftBank announced Monday that it is collaborating with Meta, IPS, TM Technology...
By Ifvex 2025-09-26 07:32:25 0 2K
Networking
Ant International’s Antom debuts agentic payment solution
Antom, a merchant payment and digitization services provider under Ant International, announced...
By Ifvex 2025-09-08 03:49:06 0 2K
Networking
Maybank positive on Grab after management lifts its guidance
Maybank Investment Bank said on Thursday that it was positively surprised by the lift in...
By Ifvex 2025-05-03 11:45:09 0 7K
Ifvex https://smartcontent.me