Bukalapak, one of Indonesia's leading e-commerce platforms, has announced the closure of its physical product sales as part of a strategic shift. The company will officially end its e-commerce service on January 7, 2025, but buyers can still make transactions for physical products until February 9, 2025, before the service completely ceases.

After February 9, 2025, no new orders for physical goods will be accepted, as Bukalapak refocuses its business model on virtual products. These virtual offerings include prepaid mobile credits, internet data packages, digital vouchers, and utility payments such as electricity and taxes. The decision follows the company's broader strategy to streamline its operations and focus on the growing market for virtual goods and services.

This shift marks a significant change for Bukalapak's marketplace, which has historically been known for its wide array of physical products. While the transition to virtual products may streamline Bukalapak’s offerings, it also means sellers of physical goods will need to find new platforms for their businesses.

Bukalapak assures that the transition will be smooth, with a clear plan for the return of funds and the downloading of transaction history for both buyers and sellers. Despite the closure of its physical product marketplace, Bukalapak has emphasized its commitment to supporting users during this shift and maintaining the availability of virtual product transactions.

In the wake of this change, Bukalapak’s investment structure has also evolved. Notably, API (Hong Kong) Investment Limited, a major stakeholder, has sold its shares, reducing its position in the company. This has been replaced by PT Elang Mahkota Teknologi Tbk (EMTK), which now holds a significant stake in Bukalapak.

While the closure of physical product sales might be a setback for some users, the move could open new opportunities in the growing virtual marketplace. Bukalapak's strategic decision to focus on virtual goods is in line with broader trends seen in the tech and fintech industries, where digital services are becoming more integral to daily life.

SOURCE: BISNISCOM | PHOTO: BUKALAPAK