Almost every year, Kevin Stewart flies to China to find stock for his Indonesian businesses. But increasingly, the factories he visits are selling to his customers too, sometimes for less than they charge him.
A data science manager in the tech sector by day, the Chinese-Indonesian entrepreneur also helps run home-living and pet-supply companies that sell to other businesses and direct to consumers, including through e-commerce platforms.
Yet Chinese companies listing directly on Indonesian marketplaces are squeezing the profit margins of ethnic Chinese traders like him.
“Sometimes, the sourcing quotes we get from China are actually higher than the prices at which they sell directly to the Indonesian market,” he said.