Reported 1 day ago
Indonesian e-commerce pioneer Bukalapak will cease the sale of physical products to focus on virtual goods like mobile credits and electricity tokens, highlighting intense competition from major players such as TikTok Shop and Shopee in the thriving Indonesian market. Analysts suggest this shift indicates a critical restructuring for the struggling company, which has seen its stock plummet significantly since its 2021 IPO.
Source: YAHOO