The technology industry likes to talk about fast-moving trends, but even the most innovative digital companies can take a leaf out of the fashion industry’s book. Nowhere else does one up-and-comer replace the next so quickly. Former investor favourite H&M, which has now triggered a share price drop on the stock market with its business performance and outlook, gave traditional fashion retailers a real scare just a few years ago with its fast-growing chain of shops for a young, price-sensitive clientele. But just a short time later, the Swedes found themselves under heavy pressure in Europe from online fashion trendsetters such as Zalando, Asos and About You – and of course from e-commerce giant Amazon.