Gojek Transactions Grow 10% & Gopay Increase Two Times

On-demand service company Gojek recorded a Gross Transaction Value (GTV) growth of up to 10% during the Covid-19 pandemic. The total Gojek transactions in 2020 reached US$ 12 billion or IDR 170 trillion. Gojek co-CEO Andre Sulistyo said the company’s core services will also score a positive contribution margin in 2020.

Transaction growth is also in line with the increase in the number of monthly active users (MAU) of 38 million users. “This growth makes us more confident in achieving a sustainable business,” said Andre at the 10th Gojek Anniversary Virtual Press Conference on Thursday (12/11).

Several Gojek services experienced an increase in demand during the pandemic, for example, GoPay transactions increased 2.7 times in 2020 compared to last year. “This is driven by spending from e-commerce, games, and transactions in various applications,” said Andre.

Increased Transactions with PayLater

GoPay also recorded an increase in transactions on the PayLater feature by 2.7 times. Meanwhile, the donation feature has doubled. During the pandemic, donation transactions on GoPay reached IDR 102 billion. Then, transactions for groceries at Gojek recorded an increase of up to 500%.

Even so, transportation services, both GoRide and GoCar, experienced a decrease in transactions. “There was a decrease in the volume of transactions in transportation services. The driver-partners’ income took a hit. There was a negative impact,” said Andre.

Gojek Co-CEO Kevin Aluwi said that what was driving the increase in corporate transactions during the pandemic was a large number of Micro, Small and Medium Enterprises (MSMEs) entering the Gojek ecosystem. The growth in the number of Gojek UMKM partners in 2020 is 80% or 900 thousand.

“This is because many business owners, in conditions like this (the Covid-19 pandemic) are looking for online-based business solutions,” said Kevin. Kevin believes that in the long term, digitizing the MSME business will become a positive trend. For that, in the future, the company will carry out a strategy by launching various solutions for MSMEs.

Gojek Targeting Msmes Because of Its Large Market

The reason Gojek is targeting MSMEs is that in Indonesia the market share for MSMEs is quite large. Indonesia has 64 million MSMEs, of which only 16% have been digitalized. MSMEs also contribute nearly 60% of Indonesia’s Gross Domestic Product (GDP).

Research from the International Data Corporation (IDC) and Cisco shows that digitizing MSMEs can increase state revenues. At least GDP could increase by US$ 160 billion-US$ 164 billion (Rp 2,372.6 trillion-Rp 2,432 trillion) in 2024.

As an effort to attract MSMEs, last August, Gojek launched the site melajubersamagojek.com which focuses on targeting MSMEs in general. UMKMK players can access the digital keyboard and dashboard application, Selly.

The Selly application makes it easy for businesses to send bills, check postage and create notifications for consumers. This platform is also integrated with chat and social media applications such as WhatsApp and Line.

Then business people get access to payment solutions from the MidTrans Payment Link. MSMEs that are joined can also use Gojek’s business management application, GoBiz. Other services that can be accessed are the Moka online cashier application, GoSend and GoBox logistics, GoPay, GoFood, and GoShop.

As is known, Gojek also acquired Moka earlier this year. Not only for MSMEs in general, Gojek is also targeting the shop sector. Gojek launched the GoToko platform and provides a business to business (B2B) model service.

The Indonesian Decacorn presents business solutions from upstream to downstream for grocery store owners. CEO and President Director of GoToko Gurnoor Singh Dhillon said, GoToko’s presence strengthens Gojek’s mission to create social and economic impact for stakeholders.

Based on CLSA research in September 2019, three million grocery stalls contribute nearly 80% to the Indonesian retail market. However, more than 80% or around 2.5 million stalls are categorized as underserved or under-served.