The industry is grappling with profitability challenges and is increasingly focusing on economic indicators

Once hailed as the fastest-growing sector during the Covid-19 pandemic, Indonesia’s quick commerce industry is losing steam. Several home-grown startups are leaving the market or pivoting to new ventures.

The industry is grappling with profitability challenges and is increasingly focusing on economic indicators. The recent exit of GoTo’s quick commerce business, Tokopedia Now, underscores the trend of companies striving for profitability by shedding loss-making operations and concentrating on financial sustainability....

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Source businesstimes.com