E-commerce industry in the global market continues to evolve and experience high growth in both developed and developing markets. Appearance of various local/ non-banking players in the online payment gateways market has also witnessed growth at a rapid pace. A rapid rise in the number of broadband connections, Smartphone’s and innovative payment products has driven the growth in online retail market, though security remains the biggest apprehension in e-commerce market. Merchant’s payment needs have evolved the market dynamics of e-commerce market due to their focus on enhancement of user experience coupled with their partnerships with banks/ non-bank in order to provide consumer-oriented innovative payment solutions.
According to the Research Analyst, Ken Research Online Retail Market of Indonesia has undergone profound changes since modern outlets have increasingly replaced wet markets and independent small shops. A decade back, the thought of getting clothes, footwear, bags and jewelry via online e-portals was completely inconceivable, however, with the emerging entrepreneurial idea of opening online shopping sites has changed the views of millions of people. As of 2014, Indonesia has numerous retail websites such as Rakutan, Zalora, Lazada, Lotte Group, PT Trans retail, PT superhero and others with innovative product offerings, attractive pricings, seasonal offers and discounts.
The Indonesia e-commerce market has showcased a remarkable growth during the span of last five years on the ground of expansion in product range as well as surge in online market places. In 2014, B2C retail distribution model was one of the largest. B2C retail in Indonesian archipelago has been capital intensive and margins have been achieved majorly through economies of scale. B2B commerce firms of Indonesia constantly suffer from problems related to sourcing, shipping and approval services. Online C2C commerce market has been one of the major growth drivers of online commerce market of Indonesia. Kaskus, Tokobagus and Berniaga are the largest online C2C commerce companies in the country.
Indonesia’s online retail market has grown year on year as people have switched their preferences towards online shopping. The major players have been in a race to increase their share in the industry by implementing various marketing initiatives, technology advancements and switching to different business models. Amazon Indonesia was the leading player in the industry, MatahariMall.com is the second largest player in online retail market of Indonesia. The firm is a local online retailer in Indonesia. In February 2015. The firm has been in direct competition with Rocket internet group brands Lazada and Zalora in the country.,According to the Research Analyst, Ken Research
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Ankur Gupta, Head Marketing & Communications