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Funding and advertised pay are reported in USD; filed accounts retain their stated source currency and basis.

Exchange-rate basis

Indicative conversions use ECB reference rates dated 2026-09-14, applied consistently across all periods. They are not historical exchange rates. Indian rupees may use crore (1 crore = 10 million); other currencies use K, M and B. CSV downloads, source documents and quoted news headlines retain their original currencies.

THE INDONESIA EDITION 2026

Indonesia’s
retail industry,
in focus.

The companies, capital and talent shaping retail in Indonesia. Find the leaders. Understand the segments. See where the activity is.

Explore in Radar Read the key signals
Snapshot: Funding in USD
Illustrated cover for Retail Industry Landscape of Indonesia
ID
COMPANIES · CAPITAL · TALENT

An industry ecosystem,
measured in context.

Retail illustration
Companies tracked 1,286Retail ecosystem in Indonesia Disclosed funding $6.73B80 companies · all recorded rounds Companies hiring 51With open roles at the snapshot Tracked open roles 1167 employers posted in the preceding 30 days
MEET THE COMPANIES

Explore Indonesia’s retail leaders

24 featured companies from the funding, hiring, revenue and team-size leaderboards.

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Explore the full landscape
Retail company highlights in Indonesia, snapshot 31 August 2026
Company
Tokopediatokopedia.com$3.3B—173—
MATAHARImatahari.com$600M———
Bukalapakbukalapak.com$584M—1,584—
SiCepatsicepat.com$323.5M—60,000—
KinerjaPaykinerjapay.co$200M—60—
Sociollasociolla.com$170M5 roles1,500—
LummoSHOPlummoshop.co.id$149M—308—
Ulaula.app$140.6M———
Kiddo.idkiddo.id—6 roles19—
HMNSmadeforhmns.com—5 roles——
Pawoonpawoon.com—5 roles130—
Female Dailyfemaledaily.com—4 roles33—
Kitarkitar.id—4 roles——
Multi IndoCitramic.co.id—4 roles410—
pan brotherspanbrotherstbk.com—4 roles28,309—
Alfamartalfamart.co.id——84,223—
Alfamidialfamidiku.com——11,806—
Baskitbaskit.app——37—
Bizzybizzy.co.id——333—
Blibli.comblibli.com——4,567—
Dekorumadekoruma.com——562—
ESQAesqacosmetics.com——36—
GudangAdagudangada.com——504—
Kinokino.co.id——3,292—
24 featured companies

Locked revenue figures are available in Radar; the eight company financial previews stay the same throughout this page. A dash means the figure is outside these featured lists. Revenue years vary by company; the figures are not a like-for-like revenue comparison. Compare annual accounts ↗

Company discovery

Recorded evidence only
THE KEY SIGNALS

Retail industry KPIs in Indonesia

A few useful ratios bring the size of this ecosystem into perspective.

31 August 2026
Hiring participation4.0%

51 of 1,286 tracked companies have open roles.

Funding participation10.7%

138 of 1,286 tracked companies have a recorded round.

Top 3 funding share66.6%

Share of disclosed capital received by the three largest recorded recipients.

Median disclosed round$8.25M

Midpoint of 129 rounds with a disclosed amount.

Scale is concentrated. Opportunity is broader. The three largest funding recipients hold 66.6% of disclosed capital, while 89.3% of tracked companies have no recorded funding round.

Explore the segments →
CAPITAL & COMPANY FORMATION

How Indonesia retail has grown

Recorded company formation and disclosed funding across the complete annual series shown.

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2016 — 2025

Disclosed funding by year

Sum of recorded funding rounds · USD

Indonesia retail
$0$354.57M$709.15M$1.06B$1.42B2016: $266.32M20162017: $1.2B20172018: $1.24B20182019: $362.87M20192020: $1.22B20202021: $1.14B20212022: $466.9M20222023: $154.28M20232024: $7.15M20242025: $16.7M2025
View the numbers
Annual retail funding and company formation in Indonesia
YearFunding (USD)FoundedRaising
2016$266.32M1166
2017$1.2B8610
2018$1.24B859
2019$362.87M10414
2020$1.22B10613
2021$1.14B9019
2022$466.9M7523
2023$154.28M4913
2024$7.15M274
2025$16.7M11
WHERE CAPITAL SITS

Funding concentration

Share of all disclosed company funding.

  • Tokopedia49.0%
  • MATAHARI8.9%
  • Bukalapak8.7%
  • Other companies33.4%

Funding by stage

231 recorded rounds since 2016

NUMBER OF ROUNDS
Seed & Angel99 42.9%
Series A–B92 39.8%
Series C+ / PE25 10.8%
Grants, debt & other15 6.5%

Recent recorded rounds

Latest recorded rounds · USD
2 rounds

Swipe or scroll horizontally to browse.

Seed04/2026
Kitar $10M

Backed by Source Code Capital and Hike Capital and others.

Series A04/2026
Baskit $4.4M

Backed by Kaya Founders and Cento Ventures and others.

Largest and notable recorded rounds

Each card is one recorded round
10 cards

Swipe or scroll horizontally to browse.

THE BUSINESS BEHIND THE ACTIVITY

Revenue, profitability & financial strength

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Annual accounts availability

No reviewed exact national-ID connector maps Indonesia company identities to the configured global filings table.

DIGITAL FOOTPRINT

Web traffic, app reach and release cadence

How the Indonesia companies on this page show up online: the sites people visit, the apps they install, and how often those apps ship.

Busiest websites

46 of the 1,286 companies on this page carry a measured traffic record (3.6%); these are the largest of those, by monthly visits. The median among them is 197,328 visits.

CompanyMonthly visitsAuthorityMobile
Shopeeshopee.co.id182,246,7869276%
Tokopediatokopedia.com52,588,3479066.6%
Lazada Indonesialazada.co.id22,485,8828985%
Blibli.comblibli.com14,319,9168054.7%
Iboxibox.co.id2,385,3706378.5%
Kaskuskaskus.co.id2,131,0424987.8%
Gramediagramedia.com2,109,6578177%
zalora indonesiazalora.co.id1,400,5616975.2%
Duitkuduitku.com1,112,0373578.5%
SiCepatsicepat.com1,075,8615563.3%

Visits and authority are third-party web estimates, not company-reported figures.

Most-installed apps

217 of these companies (16.9%) publish at least one Android app — 492 apps in all, carrying 743.1M installs between them.

AppInstallsRatingStore category
Shopee IndonesiaShopee410.4M4.7Shopping
BukalapakBukalapak61.7M4.3Shopping
BlibliBlibli.com49.5M4.6Shopping
Alfagift: Groceries OnlineAlfamart34.3M4.1Shopping
Shopee Lite: Shop OnlineShopee19.4M4.5Shopping
Klik IndomaretKlikindomaret18.5M4.1Shopping
Pulsa & Kuota Mitra BukalapakBukalapak12.9M4.7Shopping
Shopee Partner — Grow BusinessShopee5.1M4.5Finance
MatahariMATAHARI4.9M4.2Shopping
Learn Alphabet with MarbelEduca Studio4.6M4Education

Installs are lifetime totals to date at the June 2026 store reading — a measure of reach, not of people using an app today.

App reach by segment

The busiest app inside each of this page’s own segments, with the quarterly release trend behind it (2023Q2–2026Q2).

SegmentAppsInstallsLeading appRelease trend
Horizontal E-Commerce53598.8MShopee Indonesia 410.4M
Online Mom & Baby Care12050.1MLearn Alphabet with Marbel 4.6M
Pre-K Edtech11748.7MLearns Quran with Kabi 4.3M
Wholesalers734.7MAlfagift: Groceries Online 34.3M
In Store Retail Tech8015.3MSnapcart: Snap Play Cashbacks! 4.5M
Retail Chains1114.1MWatsons ID 3.4M
Fashion Tech206.8MLiLi Style - Fashion Shopping 4.2M
E-Commerce Enablers366.1MSiCepat Ekspres 528.3K

A company can carry several segment tags, so these rows overlap and should not be added together. Trend lines are zero-based and share one quarter grid, so a flat line is a quiet segment, not a missing one.

Release cadence by quarter

New apps published, beside apps whose most recent update landed in that quarter — the second bar is how much of the shelf is still being maintained.

2023Q2: 32023Q2: 42023Q22023Q3: 32023Q3: 82023Q32023Q4: 32023Q4: 32023Q42024Q1: 72024Q1: 102024Q12024Q2: 22024Q2: 42024Q22024Q3: 12024Q3: 222024Q32024Q4: 42024Q4: 62024Q42025Q1: 22025Q1: 152025Q12025Q2: 22025Q2: 102025Q22025Q3: 42025Q3: 542025Q32025Q4: 32025Q4: 382025Q42026Q1: 12026Q1: 1462026Q1

Darker bars are new releases, lighter bars apps updated. 285 of 492 apps carry a release date. The series ends at 2026Q1, the last quarter that closed before the June 2026 reading.

INSIDE THE INDUSTRY

The Indonesia retail market map

Explore the segments behind the headline numbers.

Expand panel +

Where companies are building

Rank segments by scale, hiring or disclosed funding.

Consumer digital700
B2c e-commerce650
Enterprise tech303
Fashion tech204
Marketplaces196
B2c fashion e-commerce192
Internet first brands179
Commerce enablers164
Enterprise software163
Internet first fashion brands103
Saas93
Internet first apparel brands63

Companies can sit in several segments. Counts and funding overlap.

SEGMENT TO EXPLORE

Consumer digital

The largest measured segment in this report snapshot.

700companies
3.4%have hiring activity

24 companies hiring · $5.01B disclosed funding

Explore in Radar

How companies make money

Common revenue models; a company can use more than one.

E-commerce - product885
E-commerce - service396
Subscription301
Commission on transaction266
Advertising170
Physical commerce121
Fee-for-service50
Sponsorship17
THE COMPANIES IN MOTION

Who is listing, hiring leaders, launching and winning work

Recorded corporate activity linked to companies in this landscape.

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Recent corporate headlines 10 dated reports
Funding roundsbaskit.app ↗

HSBC Innovation Banking also provided the business with a $3 million revolving credit facility.

Mergers & acquisitionssociolla.com ↗

Global growth investor General Atlantic has acquired a 54% controlling stake in Sociolla, completing a majority acquisition of the Indonesian beauty and lifestyle e-commerce platform in a deal largely structured through secondary share purchases.

Mergers & acquisitionspeto.pet ↗

The deal, comprising the purchase of prominent brands Best Friends, Our Vet, My Pet Warehouse and Pet City, has transformed PetO from a 17-store regional chain into a national operator with 58 sites and a projected $200 million in annual revenue.

Funding roundsbizzy.co.id ↗

Bizzy, a Ghent, Belgium-based AI sales agent for B2B teams across Europe, has raised €4 million in funding.

Mergers & acquisitionsyummycorp.com ↗

DealStreetAsia Indonesian multi-brand F&B operator DailyCo is said to be finalising the acquisition of SoftBank Ventures-backed Indonesian F&B firm Yummy Corp through a share swap deal

Earningsbukalapak.com ↗

Bukalapak, Indonesia's leading all-commerce platform, reported a remarkable 63% year-on-year revenue increase to IDR 2.37 trillion in the first quarter of 2026.

Job creationshopee.co.id ↗

Shopee signed a memorandum of understanding with Goiás government to expand its operations;ões logísticas in the state, in a movement that supports the company's national strategy and must generate about 3,000 jobs in the next five years.

Earningskino.co.id ↗

Kino Indonesia (KINO) 9M 2025 Revenue: USD 900M. Strong performance in RTD functional beverages EBITDA margin improved due to premiumization strategy

Earningszoya.co.id ↗

Market leader Titan said its core jewellery business surged 41% year-on-year, while brands such as Tanishq, Zoya and Mia posted growth of around 40%.

Full recorded event mix

Top 10 categories among 41 recorded events in the 24-month window.

Earnings
12
Company announcements
6
Funding rounds
5
Job creation
5
Mergers & acquisitions
5
Regulatory
2
New products
2
Lawsuit
1
Layoffs
1
Capital infusions
1
6 activity cards

Swipe or scroll horizontally to browse.

IPO pipeline

1 companies with recorded IPO activity

Bukalapak ↗

IPO1 reports

Leadership moves

1 tracked people moves

SmartSeller ↗
Lars Hennecke

Appointment Managing Director

Contract wins

1 recorded customer wins

Shopee ↗

Customer: casas bahiaRetail

Workforce actions

2 companies with reported reductions

Bukalapak ↗

Scale not stated rolesbusiness pivot

Laku6 ↗

17.0% rolescost-cutting

Regulatory events

2 recorded events

Shopee ↗

green signal receivedAdministrative Council of Economic Defence (Cade)

Shopee ↗

approved to take controlCentral Bank (BC)

Litigation

1 tracked suits

Company
Indonesian third-party logistics (3PL) players v shopee

monopolistic behaviour / unfair competitionRegulatory · Settled

Earnings pulse

Reported company results in the recorded window.

4companies
13period observations
35.8%median reported growth

Median across 11 reported growth observations; companies may contribute multiple periods.

Mergers and acquisitions

Company-linked deal reports; status is preserved as recorded.

Acquirer → targetStatusDateValue / context
gojek→Tokopedia ↗Announced2026-01-05$18.0B
general atlantic→Sociolla ↗Completed2026-01-05Not stated in snapshot
Lincah→Orderfaz ↗Announced2025-12-03Not stated in snapshot
ByteDance’s TikTok→Tokopedia ↗Completed2025-11-14$1.5B
Peto→Best Friends, Our Vet, My Pet Warehouse and Pet CityCompleted2025-09-29Not stated in snapshot
DailyCo→Yummy Corp ↗Announced2025-06-09Not stated in snapshot

A discussion or rumour is not a completed transaction. An unstated value is not zero.

PEOPLE & OPPORTUNITY

The talent market

26 postings in the preceding 12 months. The full 38-posting snapshot covers 28 employers.

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Most advertised job titles

Sales Marketing Manager (B2B & Offline Retail) (Wiradi Utama Packindo)2
Back Of House Retail Associate2
Retail Engagement Executive Maluku2
Retail Engagement Executive Rangkas & Serang2
Retail Budget & Operation Jakarta1
Division New Retail Manager1
1 internship postings

0 tracked postings mention remote work.

The seniority mix

18 postings specify a level.

unspecified
20
manager
10
lead
4
senior
3
intern
1

Skills employers mention

Top skills across 38 tracked postings in the available jobs snapshot.

Leadership
3
Sales
3
Mengoperasikan Komputer
3
Retail
3
Inventory Management
3
Visual Merchandising
2
Ms. Office
2
Communication
2
Team Management
2
E Commerce
2
THE PEOPLE BUILDING THE FIELD

Founders and leaders

431 founders and chief executives across 333 companies.

Expand panel +
12 profiles

Swipe or scroll horizontally to browse.

Education networks

40 profiles with education records.

University of Indonesia
6
Stanford University
5
Harvard University
4
National University of Singapore (NUS)
3
Columbia University
3
The University of British Columbia
3
Massachusetts Institute of Technology
3
Harvard Business School
3

Prior employers

9 profiles with prior-work records.

McKinsey
3
Boston Consulting Group
1
Gojek
1
Tokopedia
1
Intel
1
Morgan Stanley
1
eBay
1
Amazon
1

Profiles cover recorded founders and leaders; contact details remain in Radar.

NEWS INTELLIGENCE

How this industry appears in the news

124,496 articles in the measured 12-month window.

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124,496articles in the measured year
18,137articles in 2026Q1
26.4%positive tone in the latest complete year

News volume trends

Retail coverage across Indonesia · articles per complete quarter

019,69539,39159,08678,7822021Q2: 13,9702021Q22021Q3: 15,7742021Q4: 15,1802022Q1: 15,6602022Q2: 17,2512022Q22022Q3: 17,8262022Q4: 25,2342023Q1: 23,6302023Q2: 22,0002023Q22023Q3: 28,9682023Q4: 22,7522024Q1: 23,8902024Q2: 28,1022024Q22024Q3: 27,0872024Q4: 29,1902025Q1: 36,1552025Q2: 23,5002025Q22025Q3: 68,5062025Q4: 15,5132026Q1: 18,1372026Q1
View quarterly article counts
QuarterArticles
2021Q213,970
2021Q315,774
2021Q415,180
2022Q115,660
2022Q217,251
2022Q317,826
2022Q425,234
2023Q123,630
2023Q222,000
2023Q328,968
2023Q422,752
2024Q123,890
2024Q228,102
2024Q327,087
2024Q429,190
2025Q136,155
2025Q223,500
2025Q368,506
2025Q415,513
2026Q118,137

Article volume measures coverage, not market sales.

Tone of coverage over time

2021
19,120 positive · 18,288 neutral · 10,813 negative
2022
31,101 positive · 28,169 neutral · 16,625 negative
2023
45,689 positive · 35,356 neutral · 16,217 negative
2024
37,259 positive · 54,702 neutral · 16,222 negative
2025
37,952 positive · 85,541 neutral · 20,079 negative

Leading coverage topics

Retail coverage across Indonesia · ranked by full-period article count.

International And Transnational Geographic Entities300,295 articles in the full recorded period
61,754 recent · 46,327 prior
Geopolitical Disputes And Contested Areas300,286 articles in the full recorded period
61,749 recent · 46,323 prior
Administrative And Political Subdivisions300,266 articles in the full recorded period
61,747 recent · 46,318 prior
International Political Relations9,946 articles in the full recorded period
1,573 recent · 993 prior
Government International Agreements Coordination7,203 articles in the full recorded period
831 recent · 764 prior
International Relations And Diplomacy6,625 articles in the full recorded period
902 recent · 702 prior
Trade Policies And Agreements6,387 articles in the full recorded period
1,750 recent · 806 prior
Government Diplomacy And Foreign Affairs Support6,339 articles in the full recorded period
725 recent · 637 prior
International Sports Competitions5,835 articles in the full recorded period
597 recent · 714 prior
New Product Launches And Innovations5,291 articles in the full recorded period
833 recent · 705 prior

Recent and prior counts use the source comparison windows.

Topics gaining and losing attention

Retail coverage across Indonesia

KeywordRecentPriorChange
countries2,4181,012139%
tariff negotiations1,206477153%
free trade deals664219203%
bilateral trade643179259%
trade dispute mechanisms603180235%
preferential tariff48025886%
trade barrier reduction43123484%
tariff rate quota364174109%
multilateral diplomacy35320771%
trade facilitation commitments34617795%
olympic team selections35177-80%
volcanic unrest89177-50%
eruption forecasting88167-47%
volcano alert100166-40%
eruption warning98163-40%

Event and signal lenses

Retail coverage across Indonesia

All complete annual cohorts shown
Rising

Regulatory Risk

559,398 classified articles

territories, disputed islands, countries

16.8% critical · 9.8% positive
Rising

Funding Momentum

22,806 classified articles

seismic damage evaluation, earthquake recovery, quake relief

44.7% critical · 49.8% positive
Rising

Growth

64,043 classified articles

gdp growth rate, economic output growth, economic growth statistics

37.0% critical · 50.0% positive

Retail coverage across Indonesia. Topic labels describe recorded classifications and can include broad context.

GEOGRAPHIC FOOTPRINT

Where companies are based

Company counts, hiring and disclosed funding across the recorded hubs.

Expand panel +
8 cards

Swipe or scroll horizontally to browse.

UNDERSTAND THE LANDSCAPE

Retail in Indonesia: key questions

Clear definitions for making better comparisons.

What does this landscape measure?

It measures the tracked company ecosystem, recorded funding, hiring and other available evidence. It is not a market-size estimate.

Can segment counts be added together?

No. A company can belong to several segments, so segment counts and funding can overlap.

What does a missing figure mean?

A dash or unavailable panel means the current reviewed source snapshot does not support that figure.

KEEP EXPLORING

Put Indonesia in context

All landscapes ↗

Company ecosystem snapshot: 31 August 2026. Funding is recorded in USD; filed accounts retain their stated currency and reporting basis. Each section identifies its own coverage. The news and research behind these sections is explorable in Prism.

Canonical landscape ↗
Coming soon