1% Overlap between Shopee and Competitor – Indonesia E-Commerce Trends
When Bukalapak stepped away from physical goods in 2025, analysts framed it as a “strategic pivot.” But here’s what they overlooked: Bukalapak wasn’t just losing—it was actually operating in a parallel universe.
According to Measurable AI’s analysis of millions of consumers’ transactional e-receipts: only 1% of Bukalapak’s users in 2024 overlapped with Shopee’s customer base. This wasn’t a battle for the same shoppers. Bukalapak’s core users lived in a different world than Shopee’s —more rural, cash-driven, with lower average order values (AOV).
Why Alternative Data Matters
Traditional metrics like GMV and monthly active users are essential, but they only tell half the story. To truly understand a market like Indonesia—vast, fragmented, and pulsing with cash economies—you need to see the hidden signals. That’s where Measurable AI’s alternative data comes in. By aggregating and anonymizing millions of e-receipts across platforms, we don’t just count transactions—we map behavior. Alternative data lets you pinpoint which cities yield the highest cash-on-delivery ratios, which provinces exhibit the most loyal purchasing patterns, and which seller categories are gaining traction in overlooked pockets.
Before we review more insights from Indonesia’s e-commerce market, don’t forget to schedule a demo with us.
A Duopoly of Titans : Shopee vs Tokopedia
Indonesia’s e-commerce is now a duopoly with conglomerates: Shopee, and Tokopedia-Tik Tok shop. Is there still room for mid-sized players? The answer seems to be yes. Even though the competition is really fierce right now in the Indonesia e-commerce space, the market size is still growing. Measurable AI’s e-receipt data panel with over 5 million consumers across the emerging markets, tracking data back to 2018 and shows a steady growing trend over the last 8 years, and a quite unpredicted market share change.
Alongside market expansion, the AOV has been on the rise, based on Measurable AI’s data: the overall e-commerce AOV (average order value) in Indonesia E-commerce has grown 15% year-over-year as of Q1 2025, despite macro economic headwinds.
Indonesia’s Shopee Users Behavior
Cash-on-delivery (COD) orders still represent a major payment method in e-commerce transactions in Indonesia, on Shopee over 30% of orders are transacted via cash, and concentrated primarily in areas where banking and digital-wallet adoption lag.
Another surprising finding is that the e-commerce users in Indonesia are more loyal than you think. Measurable AI data shows that around 57% of Indonesia e-commerce users continue shopping on the same platform after six months. This data challenges the assumption that SEA shoppers are “promiscuous” bargain hunters. It also implies the importance of long-term engagement strategies in this region.
In 2025 and beyond, the real winners will read between the receipts. They’ll ask: Who’s invisible in our data? Sometimes, the most lucrative opportunities exist precisely where everyone else has stopped looking. At Measurable AI, we build and own a unique consumer panel and are the largest transactional email receipt data provider for the emerging markets. We are well regarded for our comprehensive alternative dataset across the digital economy. To unlock more detailed analysis including user loyalty/retention rate, overlap analysis, and incentive trend, please schedule a demo with us, and download our 2024 Digital Economy Annual Report.
About Measurable AI
Charlie Sheng is a serial entrepreneur, and a dedicated communicator for technology. She enjoys writing stories with Measurable AI’s very own e-receipts data. You can reach her at [email protected].
Check out our annual reports: 2024 AltAsia Online Delivery Report, 2019-2022 Food Delivery Annual Report for Asia, Asia & Americas Ride-hailing Report 2019-2023.
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