In 2023, the market has grown by 18.3% to IDR 573 trillion. Analyst Poornima Chinta believes that the Indonesian e-commerce market is one of the fastest growing in Southeast Asia, benefiting from the popularity of the Internet, increased household income and the improvement of the security of online services.
In addition, online shopping festivals and logistics advancements have also driven e-commerce expansion. The National Online Shopping Day event organized by the Indonesian government in cooperation with the E-commerce Association has promoted the growth of e-commerce sales.
Technology giant GoTo Group reported strong performance in the first quarter, and the transaction with TikTok brought positive cash flow to its e-commerce division.
