"In addition to connecting K-Pop fans in Indonesia and around the world with their favorite global megastars, we hope to maintain Tokopedia's relevance and bring Indonesia's name to the global stage," said CMO and SVP of Tokopedia, Kevin Mintaraga. Fans can watch the show through the following link and are encouraged to set reminders as to not miss out the premiere. Worldwide communities can stream WIB: Indonesia K-Pop Awards on 25 November from 19.00 to 21.00 Jakarta Time (UTC+7) via Tokopedia Play within Tokopedia's app and Tokopedia's official Youtube channel. The WIB Indonesia K-pop Awards 2021 will be the first award show dedicated to K-pop fans in Indonesia, and will also present various special performances from the groups. And, since economic growth in China is currently suffering a slowdown, taking advantage of opportunities in other countries is of particularly high importance.WIB: Indonesia K-Pop Awards is an awarding event from Indonesian communities for the aforementioned global megastar groups whose fans have voted through Tokopedia. If Alibaba can own Lazada and hold a stake in Tokopedia, then it stands to benefit from the success of both leaders, while its rivals - such as JD.com - potentially struggle to gain a foothold in the market. It's worth noting, however, that Google and Temasek do not consider India in their SEA rankings.Īlibaba’s investment in Tokopedia may suggest that the Chinese e-commerce giant is trying for a forked approach to beat its competitors in Indonesia. Alibaba subsidiary Lazada is also a major player in Indonesia it's currently the largest business-to-consumer (B2C) e-tailer by visitors in the country, whereas Tokopedia is the largest consumer-to-consumer (C2C) e-tailer by visitors, according to e-commerceIQ. On top of that, Indonesia’s e-commerce GMV is expected to soar to $53 billion by 2025 and remain the steadfast leader over Vietnam’s expected second place $15 billion. That makes it the most lucrative e-commerce market in SEA by a long shot, since the second closest is Thailand at $3 billion. Indonesia is a good market to have a strong grip on, given that its e-commerce market is the largest in Southeast Asia (SEA). Total e-commerce gross merchandise value (GMV) in Indonesia stands at $12.2 billion in 2018, according to a study by Google and Temasek. Beyond logistics, the company plans to further its efforts in payments and financial services, and will work to empower business both online and offline, Tanuwijaya said. The investments in logistics and fulfillment that Tokopedia intends to make with its new capital are likely to support even better reach in the future. Tokopedia has big plans for its new funds, including bolstering its already impressive penetration in Indonesia. The e-tailer claims that it's currently able to serve 93% of Indonesia and that a quarter of its customers are eligible for same-day delivery - an impressive achievement, given that Indonesia is spread across approximately 17,000 islands.
Despite its success, the company says that it currently has no plans to expand to new countries, preferring instead to double down in Indonesia and further grow its capabilities there, Tokopedia Cofounder and CEO William Tanuwijaya told TechCrunch. Tokopedia was founded nine years ago and runs an e-commerce marketplace similar to Alibaba’s Taobao that hit 4 million merchants in August.
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