The return of tourists will bolster what has proven to be a more resilient than expected local luxury market attracting the likes of Burberry and Balenciaga during the pandemic.

Stripe and Klarna have transformed payments in the west, but fintech providers like PayU, M-Pesa and PhonePE can help drive e-commerce in rapidly growing emerging markets.

With Wildberries racing to become Russia’s answer to Amazon, many brands are turning to devoted fashion platforms like Lamoda.ru and Aizel.ru but the local e-commerce market poses many challenges.

The resale revolution is catching on in countries with no culture of thrift stores, but platforms must still work hard to quash taboos and change the consumer mindset.