Tokopedia, Indonesia's Largest E-commerce Platform by Transaction Value

A CLSA report, "Laporan E-Warungs: Indonesia's New Digital Battleground," identifies Tokopedia as the Indonesian e-commerce platform with the highest transaction value. Tokopedia has held the lead in transaction value since 2014 and is projected to maintain this position through 2023.

In 2018, Tokopedia's transaction value reached US$5.9 billion. Its consumer-to-consumer (C2C) platform was the main driver, accounting for US$5.6 billion, while business-to-consumer (B2C) transactions totaled only US$148 million. CLSA projects Tokopedia's transaction value to reach US$37.45 billion by 2023.

Meanwhile, Shopee and Bukalapak are projected to have transaction values of US$31 billion and US$8.3 billion, respectively, in 2023. Overall, the combined transaction value of the top three e-commerce platforms was US$11.6 billion in 2019 and is projected to increase to US$76.8 billion by 2023.