The market for online grocery shopping in Indonesia and other Asian countries could see a double-digit growth in market turnover to be worth SGD19 billion (USD13 billion) by 2020, driven by the rise of the young, working class population in urban areas across the region, according to Jakarta-based grocery shopping smartphone app HappyFresh.
In a statement received by the Jakarta Globe on Monday, HappyFresh projected that middle and upper class consumers in Indonesia are set to drive the trend of online grocery shopping ahead.
The startup, which secured a USD12 million funding led by Singapore’s Vertex Venture and Sinar Mas Digital Venture last year, allows users in Malaysia, Indonesia and Thailand to shop for groceries through a smartphone app. In Indonesia, HappyFresh partners with Ranch Market and Lotte Mart.