Media shy shopping app Sale Stock is making its mark in the online shopping sector reports Tech In Asia. The app is currently ranked at number 10 in Indonesia’s Play Store, which puts it up in the same league as ecommerce incumbents such as Lazada and Tokopedia, despite having launched less than a year ago.
Despite its success, Sale Stock is very understated because the founders, husband and wife duo Lingga Madu and Ariza Novianti, prefer to keep a low profile. The founding team is made up of three other co-founders, one a former engineer at Facebook.
Sale Stock is listed as a company under Ardent Ventures, and thus is now managed under Wavemaker, as the two funds recently merged earlier this year. According to Tech In Asia’s speculations, Sinar Mas Digital Ventures (SMDV) could have a larger stake in Sale Stock as the startup has an office in SMDV’s space in downtown Jakarta.
The Sale Stock Philosophy
Sale Stock is strictly mobile only to leverage Indonesia’s growing mobile commerce sector, where mobile growth rate is at 55.5%, according to MasterCard’s Mobile Shopping Survey. The startup sells affordable, unbranded women’s fashion.
No dress, watch or shoe cost over $15.24 making Sale Stock affordable for everyone. The company’s ‘No Discount’ policy also means that prices remain consistently low so there is not a need to wait for sale season to purchase.
The company does not charge a delivery fee and accepts cash on delivery as a method of payment to appeal to Indonesia’s mass shoppers who have low credit card penetration. The startup’s supply chain and logistics is operated by aCommerce, also under Ardent/SMDV.
Because Sale Stock is not a C2C player like its closest competitors Shoppee or Carousell, and sells only its own inventory, the startup has managed to cultivate a niche of its own. Sale Stock’s main roadblock is a comparatively asset-heavy model as it curates its own inventory meaning that it needs to operate on a consistently large scale due to slim margins from low prices.
A version of this appeared in Tech In Asia on July 12. Read the full version here.