E-commerce is taking the world by storm and today, we are joined by the President of Bukalapak, Teddy Oetomo, to find out how they’re revolutionizing the market in Indonesia. Bukalapak is a publicly traded Indonesian e-commerce company operating as a platform for both online and offline services for smaller retailers. The company partners with mom-and-pop kiosks to make its services easily accessible to customers in a cash-dominant society while enabling these small businesses to increase their revenue. In our conversation with Teddy, we learn more about Bukalapak and the Indonesian e-commerce market, and how the country’s unique socio-economic factors have lent to Bukalapak’s unique e-commerce strategy. We find out how the Indonesian market differs from other markets, and the various customer journeys available with Bukalapak. Teddy fills us in on Bukalapak’s acquisition strategy, financial services, and future plans. Tune in to find out about the nuances of the ever-expanding Indonesian e-commerce market and the versatile approach Bukalapak has adopted to meet the country’s needs.
Key Points From This Episode:
- Teddy Oetomo’s career background and his current role as President of Bukalapak.
- Indonesia’s recent history in terms of digitization.
- The socio-economic factors lending to Bukalapak’s unique e-commerce strategy in Indonesia.
- How the Indonesian market differs from other markets around the world.
- The nuanced e-commerce customer journey in Indonesia.
- The role of mom and pop kiosks in Bukalapak’s business model.
- Bukalapak’s acquisition strategy.
- The financial services Bukalapak offers, and is working towards.
- The typical financial services setup for convenience stores in Indonesia.
- The room for growth Teddy has identified in the financial services sector.
- The role of Bukalapak as the bridge to financial inclusion and digital transformation.
- The landscape of social media in Indonesia.
- Why Bukalapak is avoiding a single-channel strategy.
- The monetization capabilities of gaming and game items.
- The greatest challenges Teddy faces as he strives to reach the company’s goals.