Q1. Could you start by giving us a brief overview of your professional background, particularly focusing on your expertise in the industry?

I have a background in the advertising and media industry, with a core focus on data, insights, and strategy. My expertise lies in understanding audience behavior and translating data into actionable strategies that drive effective communication.

Q2. Having tracked Indonesian consumers, what specific shifts in FMCG 'pack-size' advertising are you seeing in 2026 that signal permanent down-trading versus a temporary dip?

We're seeing smaller pack sizes continue to grow because they align with consumers' cash flow and affordability needs. But more importantly, this shift is becoming structural. Consumers are more value-driven, more cautious, and actively managing their spending.

Q3. Are 'social listening' and attribution data showing that social commerce is creating new demand, or is it simply stealing market share from traditional e-commerce and offline retail?

Social commerce is not just about taking share; it's also creating new demand. It drives discovery through content and influencers, generating incremental purchases while shifting transactions from traditional e-commerce and offline into a more seamless, in-platform experience.

Q4. In your experience, which sector is achieving a lower Customer Acquisition Cost (CAC) right now? Who is successfully winning the 'Unbanked' population in the provinces?

The lowest CAC now comes from ecosystem players like e-wallets and super apps, as they acquire users through daily use cases such as payments and mobility. On the other hand, lending players face higher CAC due to trust barriers and reliance on paid acquisition.

Q5. With the recent focus on 'Publisher Rights' (Media Sustainability), how has the power dynamic shifted between Big Tech (Google/Meta) and local media giants like MNCs? Who is winning the revenue-share war in 2026?

Publishers' rights are helping local media gain more bargaining power, but big tech still dominates because it controls distribution and audience. So it's not a full shift yet; it's more of a rebalancing, where media are starting to negotiate better, but platforms are still in a stronger position.

Q6. To what extent is 'Buy Now Pay Later' (BNPL) driving current media-buying ROI? If credit tightening occurs, which retail sectors will see the most immediate decline in ad effectiveness?

BNPL does help improve media buying ROI, but mainly by making it easier for people to complete a purchase, especially for higher-priced or non-essential items. 

If credit becomes tighter, the sectors that will be hit the fastest are those that rely on installment behavior, like electronics, fashion, and home goods. Those categories depend on flexible payment to drive purchases, so once that is reduced, ad performance will likely drop quickly.

Q7. If you were an investor looking at companies within the space, what critical question would you pose to their senior management?

How do you build sustainable customer value beyond paid acquisition?

In this space, many companies can grow quickly through marketing spend, but the real challenge is retaining customers, building trust, and generating repeat usage without constantly increasing acquisition costs.

I would like to understand how they reduce their reliance on paid media, strengthen customer loyalty, and convert first-time users into long-term customers.