A trove of opportunities has opened up for Indonesia’s digital startups, given the accelerated technology adoption in the country following the prolonged coronavirus pandemic, opined panelists at the Asia PE-VC Summit on Oct. 1.
JD.com’s president for Southeast Asia, Soon Sze Meng, who was one of the panelists, said there has been a big focus on groceries and other daily needs in e-commerce. Last year, JD.id launched a nearby store service that allows customers to procure goods from a nearby convenience store. “We can see the growth of e-commerce across all categories… not just basic consumer products, but groceries, and everyday products,” he said at the panel discussion titled Riding Indonesia’s mega digital opportunity wave.
Soon Sze Meng was joined by Prosus Ventures’s head of Southeast Asia investments Sachin Bhanot and Carro founder and group CEO Aaron Tan in the panel that was moderated by Shotaro Tani, Nikkei Asia correspondent for Indonesia.
Bhanot said Indonesia, today, presents “an extremely compelling consumer-led tech story” and that the country experiences growth driven by economic expansion, technology, and a young population.
Tan said Carro, an automotive marketplace, plans to list in the US and do a dual listing at some point. “I mean we’re not in a rush to do that, because the company’s well capitalised,” he said.