Shopee, Skintific, and the Surge in Indonesia’s Moisturizer Market

Indonesia’s beauty and personal care industry is rapidly growing, with skincare dominating the market, particularly facial moisturizers. In Q3 2024, the moisturizers market reached IDR 815.12 billion, driven by strong e-commerce performance, particularly on Shopee. Skintific leads the market, but its share is declining, creating opportunities for competitors like Glad2Glow and Wardah to strengthen their positions.

Jakarta, December 12, 2024 – Indonesia’s beauty and personal care (BPC) industry is undergoing a transformative shift, driven by tech-savvy Gen Z consumers who are open to innovative products, locally-produced offerings, and digital marketing strategies. Skincare dominates the market as the largest category, valued at approximately $2 billion USD and projected to grow at a 9.4% CAGR, according to Meiyume. This aligns with the ZAP Beauty Index 2024, which highlights that Indonesian women tend to spend more on skincare than on makeup.

In the e-commerce landscape, facial moisturizers lead the beauty group, capturing a 19.3% market share in Q3 2024, based on Magpie data. The press release will further explore the moisturizers category, analyzing its sales performance on top e-commerce platforms in Indonesia from July to September 2024.

Moisturizer Market Overview

According to data from Magpie E-commerce Intelligence, during Q3 2024 (July to September), the moisturizers market in Indonesia achieved a total market size of IDR 815.12 billion, reflecting a 27.8% growth compared to Q3 2023. A total of 14.9 million units were sold during this period, marking an 18.6% year-on-year increase. The Gross Merchandise Value (GMV) of the moisturizers market also demonstrated significant growth, rising 27.8% quarter-on-quarter (QoQ) and 38.29% compared to Q2 2024, indicating strong demand and performance within the category.

Market Share by E-commerce

A closer look at the e-commerce landscape reveals that Shopee firmly dominated the online moisturizers market, capturing a substantial 80.96% market share. Lazada followed with 11.48%, while Tokopedia secured 7.25%, and Blibli held a modest 0.31%.

Shopee maintained its strong dominance in the moisturizers market throughout the quarter. “However, a slight dip in its market share in September created opportunities for Lazada and Tokopedia to gain ground and expand their shares,” said Wilhendra, CEO of Magpie.

Moisturizer Market Share by Brand

The top five brands accounted for approximately 32% of the total moisturizers market, with Skintific leading at a 10.78% market share, followed by Glad2Glow (8.12%), Wardah (5.62%), MS Glow (4.04%), and The Originote (3.81%). The competitive landscape, crowded with diverse brands, highlights the importance of innovative product offerings and distinct brand positioning to differentiate and succeed in this saturated market.

Brand Performance Over Time

The intense competition in the moisturizers market during Q3 2024 was evident in the fluctuating performance of brands each month. “The market leader, Skintific, experienced a declining trend in its share, which allowed Glad2Glow and Wardah to strengthen their positions and expand their market shares,” Wilhendra stated.

Top Brands on E-commerce Platforms

Shopee, the largest platform driving moisturizers GMV, is primarily led by Skintific, which commands an 11.26% share and generates a total revenue of IDR 74.28 billion. Glad2Glow follows with a 7.50% share, while Wardah holds 4.96%, MS Glow 4.46%, and The Originote 3.89%.

A closer look at the month-on-month movement shows that Skintific's share has been steadily declining, allowing Glad2Glow and Wardah to capitalize on the opportunity and strengthen their positions on Shopee.

On Lazada, Glad2Glow emerged as the dominant brand, capturing 15.79% of the moisturizers market share with a total revenue of IDR 14.77 billion, establishing a notable lead over its competitors.

In terms of month-on-month performance, Glad2Glow showed a notable increase in its market share in September, a trend also observed with other brands such as Pond’s and Olay. “These brands demonstrated similar growth patterns, reflecting a positive shift in their positions during the month,” Wilhendra added.

On Tokopedia, Wardah leads the market with a 14.11% share, generating a total revenue of IDR 8.35 billion. Skintific follows closely with an 11.82% share, while Kahf holds 8.87%, Make Over 6.87%, and Somethinc 4.58%.

Wardah has maintained stable performance on Tokopedia over the past few months, showing consistent market presence. In contrast, Somethinc faced a significant drop in its market share, declining from 7.8% in July to just 3.3% in August, indicating a notable shift in its position on the platform.

Top-Selling Moisturizer Products

Skintific leads the moisturizers category, primarily driven by the sales of its top product, the Skintific - 5X Ceramide Barrier Moisturizer Gel, which generated IDR 12.59 billion in revenue and sold 93.9K units. The second-best seller from Skintific, the Skintific - MSH Niacinamide Brightening Moisturizer Gel, sold 64K units and earned IDR 8.55 billion in sales. While both top products are moisturizer gels, the best-selling moisturizer cream in the category was Somethinc's Calm Down! Skinpair R-Cover Cream.

Picture on Thumbnail by: cottonbro studio on pexels.com

About Magpie Ecommerce Intelligence

Magpie helps businesses discover the market potential in e-commerce, compare performance against competitors, and provide detailed market share breakdowns by sellers, location, and specific segments. With data and insights from Magpie, your business can make better decisions for the future.

Indonesian Innovation Shines in Brunei: Elwyn.ai by Primeskills Secures Award at APICTA Awards 2024

Elwyn.ai, an AI-powered learning platform developed by Indonesian edtech company Primeskills, achieved runner-up status at the 2024 Asia Pacific ICT Alliance (APICTA) Awards in Brunei. This platform uses realistic role-playing simulations to enhance soft skills and interdepartmental communication for professionals and higher education students.

Bandar Seri Begawan, Brunei Darussalam - December 11, 2024 - Primeskills, a leading educational technology company from Indonesia, proudly announces the success of its flagship product, Elwyn.ai, in securing the runner-up position at the prestigious Asia Pacific ICT Alliance (APICTA) Awards 2024 in Brunei. This achievement solidifies Indonesia's position as a key innovator in professional learning and higher education technology on a global scale.

Elwyn.ai, an AI-based learning platform, is revolutionizing the world of professional education and higher learning. By delivering realistic role-playing simulations, Elwyn.ai helps professionals and advanced students hone their soft skills and inter-departmental communication through scenarios that mirror real workplace situations.

"We are thrilled with this recognition at APICTA 2024," stated William Irawan, CEO of Primeskills. "This achievement is not just a win for Primeskills, but also tangible proof that Indonesian learning technology can compete at an international level. We are committed to continuously driving innovation in professional education and higher learning, while showcasing the immense potential of Indonesian startups on the global stage."

Elwyn.ai's excellence lies in its seamless integration with various systems that have become industry standards across institutions and companies. The platform utilizes sophisticated AI algorithms trained on thousands of real-world scenario data, a result of Primeskills' five years of experience in developing soft skills training modules for higher education institutions and leading companies.

APICTA itself is a prestigious event involving 16 member economies from the Asia-Pacific region. In 2023, the awards involved more than 250 nominations from 165 participating teams, representing countries such as Australia, China, Taiwan, Hong Kong, Brunei, Sri Lanka, Thailand, Indonesia, Malaysia, Myanmar, Pakistan, and Singapore.

The APICTA 2024 judges praised Elwyn.ai's innovative approach in addressing challenges in the modern professional world. Higher education institutions and organizations that have adopted Elwyn.ai report significant improvements in aspects of communication, teamwork, and work readiness.

Elwyn.ai's success at APICTA 2024 not only highlights Primeskills' achievement but also illustrates the rapid development of the edtech ecosystem in Indonesia. This accomplishment further solidifies the position of Indonesian technology companies as key innovators actively shaping the future of higher education and professional development on a global level.

Looking ahead, Primeskills plans to expand Elwyn.ai's reach to international markets, focusing on higher education institutions and multinational organizations. "We are in the process of forging partnerships with several leading universities and organizations to implement Elwyn.ai in various countries," added William. "Our goal is to establish Elwyn.ai as a global standard in AI-based professional education and higher learning."

For more information, visit www.primeskills.id

About Primeskills

Primeskills, headquartered in Tangerang, Indonesia, is a pioneer in creating technological solutions that bridge the gap between higher education, professional development, and industry needs. Their flagship product, Elwyn.ai, leverages artificial intelligence to deliver immersive learning experiences, while introducing Indonesian innovation to the international stage.

Redesigning History: The Politics Behind the Changing Faces of Philippine Banknotes

Wazzup Pilipinas!?

The recent redesign of the Philippine currency has sparked debates and raised eyebrows across the nation. With every alteration—whether it’s removing historical figures, changing colors, or updating imagery—it becomes clear that the nation’s banknotes are not merely tools for economic transactions but also canvases for political narratives. The latest changes, which some critics argue subtly erase remnants of the Marcos regime, highlight a deeper issue: the selective rewriting of history through symbols ingrained in our daily lives.

Monetary Bills as Political Tools

Banknotes are more than just paper; they are powerful symbols of national identity and collective memory. Every face, landmark, and symbol imprinted on a bill tells a story about the country's values, struggles, and triumphs. However, these narratives are vulnerable to political influence. In recent years, the Bangko Sentral ng Pilipinas (BSP) has rolled out changes that many view as attempts to downplay or outright remove references to certain political eras—particularly the Marcos regime.

The replacement of historical figures with images of natural wonders and native fauna may seem apolitical at first glance, but context is everything. The removal of faces associated with key moments in Philippine history—whether celebrated or controversial—raises questions about intent. Are these changes driven by a desire for a more neutral and unifying national imagery, or are they subtle acts of historical revisionism?

Selective Erasure and Misplaced Priorities

While debates rage over whose face should appear on our money, there are more pressing concerns about the glorification of living politicians. Across the country, faces of elected officials dominate billboards announcing government projects funded by taxpayers’ money. Schools, streets, hospitals, and even waiting sheds are often named after politicians, turning public spaces into campaign posters in disguise.

If the goal is to reduce the influence of political personalities in our national imagery, shouldn't we start with these blatant displays of self-promotion? There should be a firm policy discouraging the inclusion of names and faces of incumbent officials on public infrastructure. Instead, recognition should be reserved for individuals who have made undeniable contributions to the nation's development and who are no longer in positions of power.

A Culture of 'Epal' Politics

"Epal," a Filipino term referring to politicians who shamelessly credit themselves for projects they are mandated to deliver, remains an enduring problem. While debates on currency design spark national discussions, the everyday visibility of politicians’ faces on every conceivable surface often goes unchecked. Government funds should never be used to fuel political campaigns disguised as public service announcements.

Instead of repeatedly redesigning currency in ways that invite controversy, the government should focus on institutional reforms that prevent political self-aggrandizement in public spaces. Legislation that strictly prohibits the naming of streets, schools, and other public infrastructure after politicians during their lifetime is long overdue.

A Call for Genuine Representation

Symbols matter. Whether on our money, on billboards, or on street signs, they shape how we perceive our leaders, our history, and ourselves. The faces and names we immortalize in these spaces should not be decided by those in power but by a collective agreement on who truly deserves such recognition.

Moving forward, the government must ensure that the redesign of banknotes is rooted in a transparent and inclusive consultation process, free from political motivations. Likewise, public infrastructure should serve the people, not the egos of those in office.

In the end, the true measure of progress lies not in whose face appears on a bill or a billboard, but in whether these symbols represent genuine contributions to the nation’s welfare. If we truly want to move forward, let’s start by putting an end to the culture of epal politics and focus on building a legacy of integrity, transparency, and accountability—values that no redesign can erase.