JAKARTA - Minister of Cooperatives and SMEs (Menkop UKM) Teten Masduki denied the existence of "money burning" activity by online shopping platforms, especially on TikTok Shop which makes the price of goods sold very cheap.
Teten assessed that the move was no longer effective in increasing digital business revenue.
"There is no more digital platform to burn money, not increase business valuation," said Teten to reporters at Tanah Abang Market, Jakarta, on Tuesday, September 19.
Meanwhile, Teten suspects that currently the entry of illegal imported products into the country is one of the triggers for local products to lose competitiveness.
What's more, these illegal imported products are sold at a very cheap price.
"They (MSME traders) have also tried to sell online, but I conclude that the products sold by them cannot compete because there are imported products that are sold very cheaply," he said.
In addition, Teten acknowledged that there was an artist's contribution to influencers who helped promote imported products, both streaming and online.
According to him, the promotion carried out by the public figures could affect the traders.
"Indeed, there are many influencers or figures among social media artists who have many followers who are endorsers to promote products from outside. Maybe this is one of the reasons why online or online traders who are not public figures have an effect," he said.
As previously reported, Anton (36), one of the traders at Tanah Abang Market, said that TikTok Shop had greatly harmed traders in Tanah Abang.
This is because the prices offered on the platform are very cheap compared to the Tanah Abang mall and Pasar.
"Yes, asking the Minister for help, online shop, TikTok which is very influential for traders here, can (help find a solution)," Anton told reporters.
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He considered that the price on TikTok Shop was very cheap and unreasonable.
In fact, the quality of the goods is the same as that sold by Tanah Abang Market traders.
"Online, the price is cheaper than in stores, even though the materials are the same. That's what we are confused about, why can the price be dropped. For example, we sell Rp. 100,000, online it can be Rp. 49,000 or Rp. 39,000," he said.
With this price difference, Anton admitted that it was difficult to catch up with prices like on TikTok.
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