Containing huge potential, the food and beverage startup must conduct a higher business expenses allocation to the marketing strategy reinforcement in capturing good ways to embrace the market.
Heaptalk, Jakarta — Entering 2023 with economic turbulence 2023, East Ventures has robust confidence to capture more opportunities around the digital economy sector in Indonesia and Southeast Asia.
As an agnostic sector venture capital firm, the Partner of East Ventures, Melisa Irene, admitted the company is entirely open to investing in diverse sectors, with its digital innovations offered, as the company believes technology would be a place to resolve problems and deliver a positive impact for society.
“In 2023, we believe this trend will not solely focus on the e-commerce and financial technology industry. We perceive to discover more innovations from the other sectors, spanning the direct-to-consumer (D2C), agriculture, health tech, and climate tech in a short time,” Melisa added to her statement.
The potential of Indonesia’s food and beverage sector in 2023
Elaborating on the potential sector in Indonesia, Melisa highlights Indonesia’s food and beverage industry is considered a robust sector in retrieving Indonesia’s economy. Although the industry experienced a business slowdown during the COVID-19 pandemic, she revealed that Indonesia’s food and beverage industry still performed a significant enhancement of 0.2% YoY during the second quarter of 2020, as noted by Central Bureau Statistics (BPS).
Currently, the food and beverage industry encounters intense competition as consumers are accessible to find similar menus around different food and beverage brands locally and globally with a robust market reach. Melisa recognizes this phenomenon is a primary challenge for entrepreneurs in this sector. For this reason, the coming startups of the food and beverage sector might conduct a higher business expenses allocation devoted to the marketing strategy in capturing good ways to embrace the market.
“Besides tremendous market defiance and competition, we have a tough optimism in Indonesia’s massive food and beverage industry potential. Startup founders are expected to reckon this point positively because every numerous brand eventually could amplify their innovations to furnish outstanding value for the consumers,” East Ventures’ Partner said in a statement.
To continue to strengthen their existence and attain long-term business, Melisa observes product innovations and standardization are critical factors for food and beverage startups to survive, particularly companies with a tremendous chain to expand globally while retaining the quality of services.
“Therefore, technology is critically important to boost the food and beverage startup to ensure quality is provided in every branch. Further, the founders are not solely concerned with these matters. Yet, they must utilize a warehousing business scheme as the inventory management system and manage the supply chain for the business branches. Thus, Indonesia’s food and beverage sector still have immense potential this year, remembering the country’s digital economic potential and Southeast Asia’s promising prospects.” The Partner of East Ventures concluded.
