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. even sub-distributors can end up becoming a buyer from these platforms
  • Horeca is an upcoming segment which is expected to witness high growth in the near term backed by strong focus on FMCG, groceries and fresh goods segment by online B2B players

Ralali and other players well placed to ride 20x growth in Indo B2B e-com space

  • There is a lot of focus on resellers currently with Ecommerce platforms aggressively onboarding Warungs. Additionally, this segment would grow due to more middlemen (sub-distributors etc) coming into the market to Re-sell.
  • Players like Ralali who are strong at serving these segments likely to do well going forward

O2O/B2B supply opportunity for warungs to grow fastest- driven by Tokopedia and Bukalapak

  • The rapid growth of the O2O opportunity is being driven by supply initiatives of e-tailers- E-Tailers are focusing on the continued acquisition of more warungs and increase in monthly active warungs via consumer promos and ‘premium’ warungs. Growth is also being driven by an increase in warung wallet share via more SKUs supplied by e-tailers
  • O2O market expansion is driving structural changes in the system-  Multiple larger principals are increasingly preferring the convenience of the warung channels.



  • Roshan is a Partner at Redseer Strategy Consultants and is focused on Southeast Asia. He was ranked highly by key long-only and long-short institutional investors. He has organized several conferences, corporate events, and non-deal-roadshows.