Agung of Warung Pintar: How Covid-19 made mom-and-pop shops in Indonesia more open to technology
If you have followed our show close enough, you probably know that we have a thesis around backing startups that help small retailers to do better. Better supply chains, operation efficiency, payment infrastructures, bookkeeping, etc. This was reflected through the episodes we did with Udaan from India, Telio from Vietnam, and Shihuituan from China. On today’s episode, you will hear a conversation we had with one of the startups that are doing this in Indonesia. The first half of the show was recorded in September last year. But we also caught up with the founder a few weeks earlier on how COVID has changed how he saw the business, enjoy!
The guest for today is Agung Bezharie Hadinego, Co-Founder and CEO at Warung Pintar. The name literally means smart kiosk in Indonesian. It is a micro-retail tech startup aimed to digitalize the street vendors in Indonesia. Launched in January 2018, it currently empowers 3,000 warungs in Jakarta and Banyuwangi, whose income has increased by 41% since adopting the system.
Agung started Warung Pintar as a special project when he was an investment analyst in a VC firm called East Ventures. He holds a bachelor degree in Intermedia and an MBA from Bandung Institute of Technology.
For the full transcript of the show, go to nextbn.ggvc.com
Join our listeners' community, go to nextbn.ggvc.com/community
Kent_东南亚VC
Show your vulnerability, especially as a young leader. Warungs are more willing to learn & accept new things during COVID. Home delivery, order through messages, inventory management
Kent_东南亚VC
Value to brands: generate market demand data Secret to scale warungs from 1.5k to 3.5k in 3 months: modulised product offering. Effective Warung acquisition: Referral program using success stories
Kent_东南亚VC
Third product: city partner. Basically 'account manager' giving data-driven advice based on Warung Pintar's dashboard Fourth product: Financing. Mkt characteristics: 70% goods sold through traditional channels. Multi-layers distributors. Data lost in between.
Kent_东南亚VC
Warung in ID: annual rev < 40k USD; 50m SMEs in ID, 98% are Warung First product: aggregated procurement. Aggregate Warung demand & connect with big brands. Second product: inventory management & sales tracking.
Kent_东南亚VC
Theme: Help small retailers improve supply chain, ops efficiency, bookkeeping etc. Notable companies: Udaan (IN), Telio (VN), 智慧团 (CN) Started as a side project of East Ventures' market validation - and nobody was doing it, so Agung jumped in.