Do you know that Indonesia is a digital-first nation? The growth of the e-commerce sector in this country is marvelous. The top-notch tech companies, Tokopedia and Gojek are also from Indonesia. The government of Indonesia has played a vital role in making Indonesia a digital economy. Approximately, 138 million people shop online in Indonesia. They are generating revenue of $395 per user. It is expected that the worth of the e-Commerce industry in Indonesia will be $40 billion in the next five years. Thus it possesses ample opportunities for people that want to tap into Indonesia.If you are a Turkish entrepreneur and want to tap into the Indonesian e-commerce market then you must take the assistance of website translation services. People will open your website if they are provided to them in the language that they understand. Let’s have a look at Indonesia’s eCommerce landscape that provides opportunities for doing business across Southeast Asia.
E-commerce Landscape in Indonesia
Do you know that Indonesia is an archipelagic state? It consists of 17,504 islands that are connected by the sea. Because of the archipelago, many retailers find it difficult to reach potential customers, especially the remote regions. This problem is solved by E-commerce. It helped the businessman to reach out to the regions that were considered difficult to approach. Moreover, they helped the big retailers to become partners for localized distribution. The fashion industry is one of the largest e-commerce industries in Indonesia. It is contributing 31% of revenue. Media and electronics with 23% come at second number. Food and personal care and toys and hobbies contribute 16% of the market’s revenue. Moreover, furniture and appliances contribute 14%.One of the best e-commerce sites in Indonesia is Shopee, Tokopedia, Bilbli, and Lazada. Tokopedia is leading the e-commerce market with 135 million clicks. In Indonesia, e-commerce sites are following the model of buy now and pay later payment models. Many digital financial services and banks support them. Unicorns, Tokopedia and Gojek have gone for the merger. They have a combined worth of $20 billion. One of the e-commerce companies known as GoTo Group provides financial services and food items. This company is looking forward to expanding its operations in other countries. If they want to tap into Turkey, they must go for Turkish translation services. The best way to attract customers from the local market towards your product and services is to communicate with them in their native language.
E-commerce and SME Progess in Indonesia
The E-commerce statistics of Indonesia this year show that the market has grown by 23.8% with a worth of USD 30 billion. Apart from retail business, e-commerce payments have also gone through tremendous growth and it is expected that the worth of this industry will reach USD 53.8 billion by 2025. According to the article, The Growth of SMEs in Indonesia which is published in a YCP Solidiance, 98% of the Indonesian market which is 62 million are running SMEs. The method of loan disbursement has also increased because of the increase in microentrepreneurs’ activities. Digitalization in Indonesia is also helping SMEs to grow. If you want to start an SBU in Indonesia then professional Indonesian translation services can be of great help to you. You will able to know how to get finance for the business from the government.
The Land of Opportunities
The growth of e-commerce in Indonesia is because of the government’s efforts. They are providing such facilities to the businesses that are helping them in thriving in a digital economy. They introduced their first digital program in 2017 with the name of the 1OO Smart Cities Movement. The white paper published in YCP Solidiance with the name Can Indonesia Achieves ‘100 Smart Cities by 2045 talked about the digital collaboration between different governments and companies across different sectors and which will help them in realizing their vision of smart cities. The COVID-19 pandemic has also created many opportunities for e-commerce because this pandemic has changed consumer behavior. Therefore, you can see partnerships available at national, regional, and cross-country levels. With the rise of activities in different industries, you can see how companies are turning into e-commerce from brick-mortar stores. Small and medium enterprises are adopting digital technologies to enjoy sustainable growth and to play an important role in the economic development of the country. Digitalization is helping the collaboration between the private and government sector. The integration of both sectors in the growth of the Indonesian economy is setting an example for other countries to go for digitalization. The first step in digitalization is to develop an e-commerce website and go for Indonesian translation services. Because 70% of the consumers will opt to buy products and services from the website if it is in their native language.
Excellent Customer Services
You can avail of many leverages from the government if you are into the business of SMEs. The customer experience is not given significance in SMEs. but if they include customer services then they can get a competitive advantage and can entice customers towards products and services. The AI assistance on the website and Chatbots can help to provide a pleasant shopping experience to the customer. More and more customers will come to visit your website and make repeated purchases.
People usually leave the website without buying anything, if they don’t understand the payment mode. In Indonesia, e-commerce sales are increasing because of the buy now and pay later business model. Payment service providers like SPayLater, Atome, Kredivo are popular in the market. In addition to it, banks also support consumers with these payment modes. You must integrate these payment modes into your e-Commerce website.
The government’s support in providing digital infrastructure to the masses is helping the e-Commerce industry in making progress by leaps and bounds. If you want to tap into the lucrative Indonesian market and want to embrace digitalization then you must take assistance from a professional translation company. Whether you want to get a loan for SME or want to translate an e-commerce site, native translators will assist you in expanding your business in Indonesia.