Lippo plans to invest more in the website up to 2017, the date when the conglomerate expects a total turnover via the platform to reach USD 1 billion, techinasia.com reports. The conglomerate officials claim that the online platform will be the largest ecommerce website in the nation, and that it would be on its way to becoming `the Alibaba of Indonesia`, the source cites. Lippo expects that MatahariMall will bring the firm’s consumer retail division (online and offline) to USD 25 billion in revenue by 2020s. 20%t of this is expected to come from online retail.
MatahariMall will offer a wide selection of goods spanning fashion, beauty, electronics, home, groceries, books, entertainment and more, according to the firm officials. CEO of Matahari Department Stores, Michael Remsen, believes Indonesian ecommerce will grow tenfold by 2020, the source cites. Lippo officials also predict that Indonesia’s internet penetration will reach 30% by the end of 2015 and that online businesses are growing fast outside Jakarta, which is where the firm claims its businesses dominate.
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