Featured Location: SEA

Influencing On The Way Up!

1. Merchants are increasingly shifting their ad spend wallet to digital channels; influencer marketing is a fast-growing segment Traditional media is losing share to digital media on a global scale. Over the past year, internet advertising has grown at a robust rate of 26% beating offline ad spending, which only grew by 9%. Predictably, digital […]

ID HealthTech: Long Run Growth

With a large smoking population, Indonesians are prone to chronic diseases. Healthcare is a key focus area for the government.

eCommerce Roll-Ups: On A Roll

E-Commerce has been flourishing as an important channel for retail of consumer products across the globe and has paved way for retailers, merchants, and independent private labels to scale.

Short Form Market Updates

Published on: Apr 2021 India’s shortform video apps has seen V-shaped recovery; bringing back the userbase to nearly 100% of TikTok user base levels, Published on: Dec 2020 We as indians are the biggest content consumers in the world

Baby boom to boost online baby care

Online players are better positioned to capture the emerging opportunity: > USD 1 Bn to be added to Online Mom & Baby care segment over next 5 years

SEA: Bytes On Digital Diet

Students are the key consumer cohort with the highest digital activity followed by salaried employees and self-employed professionals

VIETNAM eB2B: Sit Up & Take Notice

The eB2B market is quite nascent at < USD 150 Mn in 2020, and is effectively a duopoly with top 2 players commanding a majority of the market

Southeast Asia: Beefing Up Alternative Meats

Southeast Asia presents a USD 10-15 Bn dollar opportunity for the alternative meat producers assuming a conservative target user cohort of 11% of the population as of 2019. This TAM could expand further in the upcoming years once the production is scaled up and products become affordable and accessible to a larger consumer cohort.

ASEAN GAMING PART 2: Game On!

This market seems to have a lot of preconditions to achieve massive growth over the next 2-3 years. If the right supply side levers are pulled, this opportunity could multiply 2x by 2024E.

Indonesia eB2B – Maths Behind The Models

Brands are experimenting with offering direct discounts to retailers and also terms of payment (credit) to drive volumes, not focussing on margin realisation. This is being done through their existing distributors, which highlights the importance of the offline distributor in the scheme of things.

Indonesia Social Commerce: Turning A Corner

Social commerce has historically been dominated by Fashion category owing to the fragmented nature of supply leading to a wide array of offerings that different sellers try to bring online. Beauty was the 2nd major category that saw presence in the social commerce space.

E-Commerce: Is D2C the next leg of evolution?

Vertical players have faced multiple challenges in scaling up and finding the right segments to target in the face of strong competition from the much larger horizontals. The funding inflow also has been relatively low.

Indonesia E-commerce: Racing Ahead

At a macro level, GDP/Capita in Indonesia is close to 2x that of India and the retail spend is 2-2.5x that of India. The digital funnel is more evolved with highly digitally active consumer base complemented by sellers who are actively exploring the online channel for driving their business.

Indonesia Fintech – 4 P’s To Succeed In Payments

Vertical players have faced multiple challenges in scaling up and finding the right segments to target in the face of strong competition from the much larger horizontals. The funding inflow also has been relatively low.

ASEAN eCommerce and Logistics: Rising to Deliver – Part 4

Consumers also expressed strong willingness to continue using online channels for purchases in future, in a post Pandemic era. This increased demand for e-commerce will continue driving up eLogistics parcel volumes rapidly over the next 2-3 years as well.

ASEAN eCommerce and Logistics: Rising to Deliver – Part 2

Social commerce has seen an uptick in the recent months owing to Covid-19. Lockdown measures have resulted in decreased store time and extremely low footfall in offline stores. Many sellers have moved to the online channel to try and reach buyers and maintain their businesses.

ASEAN eCommerce and Logistics: Rising to Deliver – Part 1

The Seller & SME based in ASEAN countries are highly active on social media platforms. They have been quick to adapt to avenues like FB and Instagram to market and sell their products. This results in a high share of social commerce in most of these markets.

Vietnam Healthcare: New Lifeline in eHealth

Vietnam has very favourable digital enablers and there is a marked shift by the government towards digitizing the entire healthcare ecosystem which seems conducive for the growth of eHealth services.

Indonesia eB2B – Reviving the “Warungs” in a Post COVID World | Part 1

“Warungs” are local mom and pop stores. ~70% of the sales of warungs come from FMCG category (without fresh). Within FMCG, cigarettes account for >50% of the sales. Generally, warung sales are driven by low ATV impulse purchases of “on the go” items like RTD beverages, instant snacks and cigarettes.

Tiki Sendo Merger – Implications for VN eCommerce

Tiki has a high share of captive logistics concentrated in HCM and Hanoi while Sendo fulfils supply though 3PL and has a wider geographic reach – Integrating these logistics capabilities to cross leverage efficiencies could prove challenging.

Vietnam etailing: Decoding growth and structure

Vietnam formal online retail is ready for 10x growth in 6 years Published on: Nov 2019 Growth will slowly taper down as we move into the later years as 1) the digitally mature customer base will be already be shopping online and 2) companies would need to drive growth through tier2+ regions/long tail categories + […]

Vietnam eLogistics: Dissecting Demand Drivers

1. Vietnam SMEs are still early into their online retail journey;  social commerce is their typical starting point Published on: Oct 2019 A significant share of SMEs started selling online very recently, with HCMC SMEs are slightly more mature in their online journey Most SMEs make their online foray via social commerce, however formal marketplaces […]

Festive sales 2019 off to a strong start and other key internet trends

E-tailers have achieved $ 1.8 Bn sales in first 3 days of the sale, on track to have a highly successful sale event Published on: Oct 2019 First three days of festive sales see a strong start, with mobiles and other electronics driving growth A significant share of transactions from smaller city consumers lead to […]

Decoding eLogistics landscape in Indonesia

eLogistics in Indonesia expected to be ~800mn shipments (formal e-tailing sector) in 2019 Published on: Oct 2019 Driven by the growth of formal e-tail (55% y-o-y in 2019), logistics likely to expand rapidly as well In-house logistics will grow but a massive opportunity for 3PLs still present Scaling up in-house logistics including affiliate players (e.g. […]

Indonesia B2B Trucking: At crossroads?

Indonesia B2B trucking is ~$32 Bn in size currently and drives the majority of B2B transport market in the country Published On: Sep 2019 Supply of trucks is significantly fragmented with low utilization rates Fragmented B2B trucking market provides a clear opportunity for tech-driven aggregators Low utilization rates- with up to 80% empty backhauls- solvable […]

Indonesia Fintech: Looking back into The Future

1. Fast-growing Indonesian eWallets and digital payments space seeing massive supply-side activity Published on: Aug 2019 Summary takeaways  Continued rapid growth (70-80% CAGR) in Indonesia e-wallets space is attracting the attention of major global players even as local players expand into new segments Given the expected intense competition, the market may be heading for consolidation […]

What Moats Are Being Built By Tokopedia, Blibli and Bukalapak?

Tokopedia- Leadership in digital goods supported by a wide pool of fin-tech products Published on: Aug 2019 Blibli- Digitizing Indonesia’s USD 150+ bn grocery retail space via BlibliMart Bukalapak’s Mitra program- First mover advantage in a USD 14 Bn 2025 opportunity

Massive Opportunity In Digitizing B2B Procurement In Indonesia

Indo B2B eCom- USD 1.5 Bn space with multiple consumer segments and business models Published on: Aug 2019 B2B E-commerce market is dominated by reseller target group – this is the easiest segment to operate in owing to the nature of goods. Resellers at multiple levels of the value chain buy products – for e.g. […]

What Makes Indonesia’s Online Travel And Payments Space So Exciting

Ecommerce Growth

Traveloka – Flying high in USD 21 bn Indonesian online travel opportunity Published on: Jul 2019 Online travel in Indonesia to grow at 25% CAGR over the next few years, with both incumbents (traveloka) and insurgents (tiket.com) spending heavily to grow the market All major e-tailers including Tokopedia, Bukalapak and others have also entered the […]

Of MAUs And Subscribers In India And The Story Of Indonesia

Hotstar has been leading the Indian content sector followed by Dailyhunt Published on: Jul 2019 Our latest research brings out focuses on the pecking order in the Indian content space, as shown below. An additional observation is that MAUs for the largest players are an order of magnitude larger than the smaller ones. Subscribers of […]

Decoding The Indonesian Online Seller

Sellers prefer an online retail platform majorly for their consumer reach followed by their UX/UI experience and word of mouth Published on: Jul 2019 Our research shows that Top 4 platforms are especially preferred for their reach, while sellers sell on social media primarily due to its zero commissions and easy to use UX/UI (and […]

What’s Showing At (Amazon) Prime Time?

The story of Amazon Prime in India- as told through three charts Published on: Jul 2019 On the occasion of the Prime Day sale event, we conducted research around the scale of Amazon Prime in India, key messages from which are shown below. What do users of long-form video platforms consume? Our research on consumers […]