JAKARTA -- As foreign-owned operators battle to reign supreme in Indonesia's cutthroat online retail market, one of the original local players, Bukalapak, has bowed out, deciding to no longer sell physical products and focus on utility bill payments.
Retail
Indonesia's Bukalapak falls victim to Shopee-TikTok e-commerce war
Local players getting bought up or squeezed out of major online retail market
Former unicorn Bukalapak is now in third place in market share among e-commerce players in Indonesia. © Reuters
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