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Jack Ma in Indonesia shows e-commerce growth potential

Bloomberg Published on Tue, Oct 04, 2016 / 8:59 AM GMT+8

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JAKARTA (Oct 4): In a testament to the rising consumer potential of the world’s No. 6 emerging market, Indonesia’s President Joko Widodo has tapped for guidance the king of Chinese e-commerce: Jack Ma.

Jokowi, as Indonesia’s leader is known, further intensified the buzz surrounding his country’s US$2 billion ($2.7 billion) e-commerce market with a stop at Jakarta’s sprawling Mangga Dua bazaar last month, buying an iPad from a store belonging to web retail giant Bhinneka.com.

Indonesia has an e-commerce market that McKinsey & Co. says can be one of the fastest-growing in the world, part of a digital economy adding US$150 billion a year to gross domestic product by 2025. All the more reason for Jokowi to turn to Ma, founder of Alibaba Group Holding Ltd., to advise his administration on how to supercharge online retailing in the country.