Tim Steiner, CEO of Ocado Group Plc,
Chris Ratcliffe | Bloomberg | Getty Images
LONDON – Goldman Sachs has named a number of European tech companies to benefit from the accelerating digital economy in the region.
A report by the investment bank, titled “Europe’s digital economy at a turning point,” identified several key drivers in the sector, including accelerating online adoption amid Covid-19.
Covid has increased online sales and penetration across multiple industries more than Goldman previously expected. The bank said that in 2020 there was three to five years of “online penetration growth” in multiple industries, while the food segment saw up to ten years.
Covid has also greatly accelerated the adoption of digital services in Europe, Goldman said, adding that 72% of Europeans who first used digital services during Covid plan to continue to use these digital services “to the same or equal extent use”. .