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Shopee Outpaces Tokopedia in Indonesian E-Commerce Race

Shopee.
Shopee. (Shutterstock)

The Singaporean e-tail platform’s $14.2 billion GMV puts it slightly ahead of local giant Tokopedia, with GMV also around $14 billion, while Bukalapak trails behind at $3 billion, according to new research from Singapore-based venture outfit, Momentum Works, as reported by KrAsia.

Between 2016 and 2020, Indonesian e-commerce went from making up 2 percent of total retail sales to 20 percent; Momentum Works’ CEO Jianggan Li estimates that the figure will reach 40 percent in coming years.

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