KUALA LUMPUR, May 25 ― Bukalapak, one of Indonesia’s largest consumer-to-consumer online marketplaces is getting ready to expand into Malaysia and throughout the region with the launch of its BukaGlobal app. The company is expected to make an announcement about its ambitious expansion plans soon.
Valued at over US$1 billion (RM4.2 billion), Bukalapak is looking to extend its reach beyond Indonesia. The tech startup claims it will be the first Indonesian e-commerce platform to be available for users outside of the republic.
A platform where SMEs can compete with the big boys
In an email sent to us, Bukalapak explains it hopes its expansion plan will bridge over 4 million SMEs with consumers across Malaysia, Singapore, Taiwan, Hong Kong and Brunei. This is in line with the company’s core belief in empowering local SMEs and connecting them to more customers online.
Bukalapak’s expansion beyond Indonesian shores will also mean that products from Indonesian merchants and brands, from food to fashion, will be accessible to more people across the region.
At a Tech in Asia conference, Bukalapak CEO Achmad Zaky said, “A lot of SMEs are finding it hard to make money offline because the cost is really high. This is the problem we solve ― we help smaller players become competitive against malls through the internet.”
Competing with Lazada, Shopee and everyone else
Bukalapak’s expansion comes at a time where the booming Malaysian e-commerce market is expected to amount to US$3.7 billion this year and projected to hit US$5.7 billion In 2023.
However, it will face stiff competition in a crowded market. At the moment, there are no less than 10 online marketplaces in Malaysia with brands like Lazada, Shopee, Zalora, 11Street and more looking for a sizable piece of that lucrative e-commerce pie.
We’ll keep you posted when Bukalapak makes an official announcement about their plans to expand in Malaysia. Stay tuned. ― SoyaCincau
