China is poised to be the first market in world history where online commerce sales will surpass physical retail, with the country expected to reach this milestone this year, Jon Stona, Stripe’s head of marketing in Asia-Pacific, observed at the recent eTail Asia Virtual Summit.
“By 2023, we expect online retail sales in Asia to be more than the rest of the world’s online sales combined," he added.
The retail e-commerce opportunity may sound like a boon for the region as it makes its COVID-19 recovery but Stona said there is a catch: the shift has also brought about a...