A surge in e-commerce across Asia began long ahead of the pandemic, according to new data from the Tokyo-based credit card network JCB.
A surge in e-commerce across Asia began long ahead of the pandemic, according to new data from the Tokyo-based credit card network JCB. JCB documented a 300% increase in e-commerce sales volume between 2016 and 2019, as higher-end consumers in Japan, Taiwan, South Korea and China increased online purchases from European retailers, JCB said in a Wednesday press release. The pandemic further accelerated Asia’s e-commerce boom, with significant shifts in spending from travel to retail purchases as COVID-19 restrictions forced consumers to stay home, according to JCB’s data.
