JAKARTA – Shares of PT Bukalapak.com Tbk (BUKA) experienced a downturn during the mid-morning session on Wednesday (8/1), following yesterday’s (7/1) announcement of BUKA’s business transformation to focus solely on virtual products, moving away from physical goods sales.

As of 10:10 AM WIB, BUKA’s stock price stood at Rp118, a 3.28% decline from the opening price of Rp122 per share. Over the past week, the company’s stock has been in a downward trend. Last week, on January 2, BUKA’s shares were valued at Rp125 per share.

On Tuesday (7/1), Bukalapak's management officially announced a shift in its business strategy, emphasizing the sale of virtual products over physical goods on its marketplace.

These virtual products will include prepaid phone credit, data packages, electricity tokens, postpaid electricity, Prakerja program payments, Bukasend services, credit installments, BPJS Health payments, water utility bills, Telkom services, postpaid phone bills, cable TV and internet services, property tax payments (PBB), and more.

During this transition, Bukalapak will disable the ability to upload new physical products starting 1 February 2025. Buyers will have until 9 February 2025 to place final orders for physical goods, including home accessories, electronics, men's and women's fashion, cameras, baby products, and others.

Additionally, any orders that remain unprocessed by 2 March 2025 will be automatically canceled, and refunds will be issued via BukaDompet. Requests for fund withdrawals after 14 March 2025 can be made by contacting Bukalapak via email. (LK/ZH)