Less well noticed is the patchwork of European companies that are turning the e-commerce revolution to their advantage, supplying online giants with everything from forklift trucks and storage space to cardboard boxes and automated warehouses.
Mainly bricks-and-mortar retailers such as Debenhams, H&M and Marks & Spencer have faced a torrid few years as stretched consumers increasingly look online for bargains.
Online retail sales are growing at double-digit percentage rates in every western European country, according to consultancy the Centre for Retail Research.
In Britain, a fifth of transactions are now conducted online, a five-fold increase over the last decade.
The world’s dominant online retailer Amazon, whose shares have soared 73 percent in the last year, is outside the remit of most European investors because it is U.S. listed, so they have had to look for other ways of buying into the trend.
One is investing in companies that have benefited from the rise of e-commerce.
