Founded in 2014, MONSPACE was built on the success of its flagship project, MONSPACE Mall. Since then, it has expanded the e-commerce site has gained more than 10 million members, and Monspace expanded into fields including agriculture, entertainment, tourism, telecommunications, aviation and more. It has also penetrated markets across the globe, including China, Indonesia, and Hong Kong. After a year of hard work, Monspace Indonesia has finally set it roots deep into the Indonesian e-commerce market, with the ambition of becoming one of the best-performing online malls locally.
Monspace Multinational Corp celebrated the first anniversary of Monspace Indonesia on 30 July 2017, at the Medan International Convention Center. Founder and CEO, Dato’ Sri Jessy Lai arrived in Indonesia personally to celebrate the milestone with the staff and members of Monspace Indonesia.
Looking at data from 2015 provided by the Indonesian E-Commerce Association, there were 7.5 million online shoppers, a mere 2.9% of a 255 million strong population. E-commerce would only grow, and is forecasted to generate 246 million USD worth of transaction in 2016; that’s 3 times of what was made in 2013. In 2020, experts predict that the middle and upper class will further balloon to 141 million people—significantly higher than the 88 million in 2014.
“In our research, we found that Indonesians often have two or more mobile phones. The market is also flooded with price-friendly phones and tablets, making them accessible to the middle and lower middle class. As the market gets itself familiar with online browsing, shopping, and socialising, this is the perfect time to enter the e-commerce market,” said Jessy.
The gala was as spectacular as imagined, with celebrities singing their hearts out on stage and the crowd going wild for the performance. The magic show was also well-received by participants.
“I want to thank the team in Indonesia for their passion and professionalism. They have created amazing results within a year, and this further strengthens my faith in the market. In future, let us walk hand in hand to further spread the message of ‘life inspiring life’. May we change societies, and make the world a better place,” said Jessy.