ShopeePay ranks #1 in Indonesia

7 September, 2020
Posted in News
7 September, 2020 arnold.sebastian

MarkPlus Survey Results on Indonesia’s e-Wallet usage

ShopeePay is said to have taken over the number 1 position in Indonesia in the e-wallet segment. At least that is what the MarkPlus survey is telling us.

The results of the survey are as follows:

Survey Size: 502 smartphone users

  1. ShopeePay : 26%
  2. OVO: 24%
  3. GoPay: 23%
  4. Dana: 19%
  5. LinkAja: 8%

The reason why respondents choose ShopeePay was mostly based on better promo’s for users compared to players like OVO, GoPay, DANA, and LinkAja.

ShopeePay is offering aggressive promotions

Most users are using ShopeePay on Shopee’s e-commerce platform Shopee. Also, it is quite clear that the rise in usage is because the other players are now lowering their discounts.

You see the same results as when Shopee entered the Indonesian e-commerce market. The current players already spend most of their marketing budgets and needed to lower the promotions on their e-commerce platforms but Shoppee who was just entering still had full war chests available to offer attractive discounts to the new users in Indonesia.

Now history is repeating with ShopeePay, they are quite new and can still spend on discounts and cash rebates. The other players have passed that stage and now are focussing on becoming more profitable.

It is an interesting trend that we will continue watching as it shows that the Indonesia consumer’s loyalty can be bought with better promotions and their usage shifts according to the best offer.

This shows that this could also happen to other strong players in other parts of the digital landscape like Online Travel (Traveloka/Tiket) and classifieds like OLX.

Of course, we need to question the validity of this survey as 502 is not a big number. But it did show some movements in the market. Looking forward to seeing how it plays out.

  • ShopeePay
  • OVO
  • Gopay
  • DANA
  • LinkAja

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