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latest updates: lowtoucheconomy.com
The winners of the Low Touch Economy
MASTERCLASS - INNOVATION LEADER
boardofinnovation.com lowtoucheconomy.com
How companies can recover and innovate in the new normal
Philippe De Ridder CEO & Founding [email protected] Connect on linkedin
3
latest updates: lowtoucheconomy.com
Board of Innovation is a strategy and business design firm. We partner with the world’s largest organizations to solve their biggest challenges through meaningful innovation. Relentlessly focused on impact.
Proudly independent for +10y New York - Amsterdam - Antwerp - Singapore
Learn more: www.boardofinnovation.com/client-cases/
Our life time mission is to inspire 100 million people to innovate for a better tomorrow.
Go-to-market Entrepreneur-in-residence
Business Design
Future Exploration
Growth Strategy
Opportunity Identification
4
All reports: lowtoucheconomy.com
Winners in the Low Touch Economy - Winners and opportunities to copy - Readiness scorecard - Future of X: 10 experts
May 2020, +100 pages report
Shifts in the Low Touch Economy - Intro to the Low Touch Economy - Shifts in human behaviour - Strategy framework
March 2020, +30 pages report
+50 Business model pivots - Public google sheet - Innovations in different industries - business model patterns
Featured in:
latest updates: lowtoucheconomy.com
What’s in store for the next 45-minutes?
02 03 04
The Low Touch Economy is here to stay
The winners of the Low Touch Economy
Opportunities & white-spaces to venture in
Q&A
01
6
latest updates: lowtoucheconomy.com
Health measuresLow Touch measures to fight
current and future crises.
Economic disruptionMitigate the impact of the crisis,
both at the macro and micro level.
Behavior shiftsPeople change how they interact
with each other and with businesses.
Employees & consumers only participate in the economy
when they feel safe
New consumer needs emerge. Acceleration of product adoption
Pressure on family budget
People move the virus around
Restrict & nudge people
The feedback loop of the Low Touch Economy
8
The Low Touch Economy is here to stay
latest updates: lowtoucheconomy.com
Getting married with 100 guests calling in via Zoom might not be for everyone.
Opera visitors in Taiwan need to keep 3 seats empty in between each other. Many cinemas are experimenting with drive-ins.
Hair salons and other close-contact service jobs are hiring professional crews to disinfect material between shifts.
VRT, The Belgian national broadcaster, experiments with distance-detecting bracelets to protect actors while recording shows.
Singapore sends SPOT robot patrols to public parks to monitor and encourage physical distancing.
Numerous restaurants are trying to find the right balance between safety, comfort and cosiness.
9
The Low Touch Economy is here to stay
latest updates: lowtoucheconomy.com
Robots replacing high-risk human interactions in service businesses.
Modified Honda with a pressurized air compartment to keep the driver safe.
South Korea Sports leagues resume games – without spectators. They expect to allow spectators and larger gatherings again soon.
Milan and many other cities are adding “temporary” bike lanes. Many city redesigns will become permanent.
Hong Kong: booths to disinfect airline personnel when entering airports
Conceptual design by Avio Interiors to make air travel safer
10
It’s not a Plexiconomy ;)BIOVYZR by VYZR Tech PlexEat by Gernigon Studio
Knuffelscherm by STAS & FAROSunglass face shield by Joe Doucet
latest updates: lowtoucheconomy.com
02 03 04
The Low Touch Economy is here to stay
The winners of the Low Touch Economy
Opportunities & white-spaces to venture in
Q&A
01
14
Who is (more) prepared for the Low Touch Economy?
latest updates: lowtoucheconomy.com
Employee interactions Is physical contact between employees and/or clients needed to conduct business?
Client interactions Clients and/or employees need to share the same equipment or objects?
Physical location Clients or employees share the same indoor spaces
Employee gatherings Employees work in groups closely together to run your business
Client Gatherings Clients are in groups to enjoy your product or service
Extra vulnerable Your employees or clients are (partly) vulnerable groups like elderly, …
Travel Client or employees need to travel (local vs international)
Supply chain Your business model is dependant on local or international supply chain
Demand Demand volatility of your business model is closely correlated with the health crisis
CHECKLIST
15
Rate your readiness level for the Low Touch Economy
latest updates: lowtoucheconomy.com
Employee interactions
Is physical contact between employees and/or clients needed to conduct business?
Client interactions
Clients and/or employees need to share the same equipment or objects?
Physical location
Clients or employees share the same indoor spaces
Employee gatherings
Employees work in groups closely together to run your business
Client Gatherings
Clients are in groups to enjoy your product or service
Extra vulnerable Your employees or clients are (partly) vulnerable groups like elderly, …
Travel Client or employees need to travel (local vs international)
Supply chain Your business model is dependant on local or international supply chain
Demand Demand volatility of your business model is closely correlated with the health crisis
1 2 3 4 5 Results: Lower scores are better 1 = doesn’t apply to your situation 5 = applies to your situation
‣ Score 1 or 2 at all sections? You should be able to adapt your organization with minor tweaks to the Low Touch Economy
‣ Any score 3, 4 or 5 needs to be addressed. This could reflect a significant hurdle to grow in the Low Touch Economy
‣ A total score above 25? You will need to redesign a large part of your business model and/or operating model to play any role in the Low Touch Economy.
‣ The higher the score, the more agile your organization needs to be. You must prepare for potential aftershocks in the market.
CHECKLIST 1
latest updates: lowtoucheconomy.com
Peloton
‣ Exercise equipment and media
‣ Worldwide (HQ: New York)
‣ 1,800+ employees ‣ Revenue (2020
expected): $1.6bn
Employee interactions Virtual/remote gym instructors
Client interactions Your personal equipment (no sharing)
Physical location At your own place
Employee gatherings
Client Gatherings
Extra vulnerable
Travel
Supply chain
Demand
latest updates: lowtoucheconomy.com
Beyond Meat ?
‣ Vegan food products Worldwide (HQ: El Sugundo, US)
‣ 400 Employees ‣ Revenue (2019):
$298M)
Employee interactions Can be produced in a safer environment
Client interactions
Physical location
Employee gatherings
Client Gatherings
Extra vulnerable
Travel
Supply chain Meat supply chain under pressure
Demand
19
How to recover?
Unable to access your client? broken customer relationship
Drop in demand? short term vs long term
20
Broken relationship with your client?
latest updates: lowtoucheconomy.com
Matterport helps realtors to make photorealistic scans of properties to offer clients virtual tours.
Some restaurants are switching to serving diners in small compartments for added safety while maintaining the social experience.
Go Instore offers a solution for salespeople in retail enabling them to guide customers remotely via live video and audio.
More drive-through service models are emerging: strip clubs, theaters, raves, supermarkets, etc.
21
How to recover?
Unable to access your client? broken customer relationship
Drop in demand? short term vs long term
23
latest updates: lowtoucheconomy.com
Understand the “job to be done” for your customer
To disconnect from work
To connect/bond with family/friends
To meet new people
To have a new experience
To brag on social media (status)
To learn something new
To be served/for convenience
To reduce stress
To belong to a certain group/fit in
To feel rewarded for hard work
“People go on an international holiday…”
24
latest updates: lowtoucheconomy.com
Understand the “job to be done” for your customer
within travel/tourism outside of travel/tourism
To disconnect from work XTo connect/bond with family/friends
To meet new people
To have a new experience
To brag on social media (status)
To learn something new
To be served/for convenience XTo reduce stress XTo belong to a certain group/fit in
To feel rewarded for hard work
“People go on an international holiday…”
Can you offer a substitute?
latest updates: lowtoucheconomy.com
Keep your existing offering
Find new offering
Keep existing clients/market
Find new clients/market
e.g. improved logistic process
e.g.alternative branding
e.g. switch to a similar, but digital/remote service
e.g. create a new product, for another need of your existing client
e.g.switch from B2B to B2C
3 ways to approach your strategy challenge
latest updates: lowtoucheconomy.com
Keep your existing offering
Find new offering
Keep existing clients/market
Find new clients/market
Innovate in the core of your organization
e.g. improved logistic process
e.g.alternative branding
e.g. switch to a similar, but digital/remote service
e.g. create a new product, for another need of your existing client
e.g.switch from B2B to B2C
Explore adjacent opportunity spaces
Jump to white-space opportunities in the Low Touch Economy
3 ways to approach your strategy challenge
Is it a 6 months or an 18 months problem? How will it impact my different businesses? What if Harvard’s scenarios pan out?
Strategy follows scenario:
Positive Revenue growth through
demand surge
e.g. E-commerce
Mildly negative Sustained revenue loss of
0-15% in Q2-4 2020
e.g. Consumer Goods
Severe Sustained revenue loss of
15-50% in Q2-4 2020
e.g. Oil and gas
Catastrophic Sustained revenue loss of
+50% in Q2-4 2020
e.g. Tourism
0.5 year impact V-curve rebound; Effective
pandemic control and economic stimulus
Ride the wave: boost supply to keep up
with demand surge
Push through and prepare for fast back-to-normal
upswing
Survive and prepare for relatively slow back-to-
normal recovery
Mothball large part of the business and prepare for
re-start
1.5 year impact U-curve recovery; Social distance measurements prolonged, economic
stimulus eases damage
Push for growth and market share
Defend, improve competitive position, and find new growth
Pivot through organic innovation and inorganic
growth, or divest
Pivot through organic innovation and inorganic
growth, or divest
3 year impact L-curve recovery; Failed pandemic control, and
wide-spread bankruptcies and credit defaults
Aggressive push for growth and market share
Defend, improve competitive position, and find new growth
Prepare for aggressive new entrants. Reinvent and create totally new position, or abandon
Abandon market
IMPACT ON YOUR ORGANISATION Direct impact of Covid-19 / Indirect impact of economic recession / Ability to adapt fast
SEVE
RITY
AN
D D
URA
TIO
N O
F EC
ON
OM
IC IM
PACT
G
DP
fore
cast
/ Pa
ndem
ic e
volu
tion
/ Eco
nom
ic p
olic
yAdapt your strategic response
lowtoucheconomy.com
Positive Revenue growth through
demand surge
e.g. E-commerce
Mildly negative Sustained revenue loss of
0-15% in Q2-4 2020
e.g. Consumer Goods
Severe Sustained revenue loss of
15-50% in Q2-4 2020
e.g. Oil and gas
Catastrophic Sustained revenue loss of
+50% in Q2-4 2020
e.g. Tourism
0.5 year impact V-curve rebound; Effective
pandemic control and economic stimulus
Ride the wave: boost supply to keep up
with demand surge
Push through and prepare for fast back-to-normal
upswing
Survive and prepare for relatively slow back-to-
normal recovery
Mothball large part of the business and prepare for
re-start
1.5 year impact U-curve recovery; Social distance measurements prolonged, economic
stimulus eases damage
Push for growth and market share
Defend, improve competitive position, and find new growth
Pivot through organic innovation and inorganic
growth, or divest
Pivot through organic innovation and inorganic
growth, or divest
3 year impact L-curve recovery; Failed pandemic control, and
wide-spread bankruptcies and credit defaults
Aggressive push for growth and market share
Defend, improve competitive position, and find new growth
Prepare for aggressive new entrants. Reinvent and create totally new position, or abandon
Abandon market
IMPACT ON YOUR ORGANISATION Direct impact of Covid-19 / Indirect impact of economic recession / Ability to adapt fast
SEVE
RITY
AN
D D
URA
TIO
N O
F EC
ON
OM
IC IM
PACT
G
DP
fore
cast
/ Pa
ndem
ic e
volu
tion
/ Eco
nom
ic p
olic
yAdapt your strategic response
lowtoucheconomy.com
Most organisations will not be able to push through this crisis as they did in 2008.
Our expectation:
Positive Revenue growth through
demand surge
e.g. E-commerce
Mildly negative Sustained revenue loss of
0-15% in Q2-4 2020
e.g. Consumer Goods
Severe Sustained revenue loss of
15-50% in Q2-4 2020
e.g. Oil and gas
Catastrophic Sustained revenue loss of
+50% in Q2-4 2020
e.g. Tourism
0.5 year impact V-curve rebound; Effective
pandemic control and economic stimulus
Ride the wave: boost supply to keep up
with demand surge
Push through and prepare for fast back-to-normal
upswing
Survive and prepare for relatively slow back-to-
normal recovery
Mothball large part of the business and prepare for
re-start
1.5 year impact U-curve recovery; Social distance measurements prolonged, economic
stimulus eases damage
Push for growth and market share
Defend, improve competitive position, and find new growth
Pivot through organic innovation and inorganic
growth, or divest
Pivot through organic innovation and inorganic
growth, or divest
3 year impact L-curve recovery; Failed pandemic control, and
wide-spread bankruptcies and credit defaults
Aggressive push for growth and market share
Defend, improve competitive position, and find new growth
Prepare for aggressive new entrants. Reinvent and create totally new position, or abandon
Last survivor strategy or abandon market
IMPACT ON YOUR ORGANISATION Direct impact of Covid-19 / Indirect impact of economic recession / Ability to adapt fast
SEVE
RITY
AN
D D
URA
TIO
N O
F EC
ON
OM
IC IM
PACT
G
DP
fore
cast
/ Pa
ndem
ic e
volu
tion
/ Eco
nom
ic p
olic
yAdapt your strategic response
lowtoucheconomy.com
Positive Revenue growth through
demand surge
e.g. E-commerce
Mildly negative Sustained revenue loss of
0-15% in Q2-4 2020
e.g. Consumer Goods
Severe Sustained revenue loss of
15-50% in Q2-4 2020
e.g. Oil and gas
Catastrophic Sustained revenue loss of
+50% in Q2-4 2020
e.g. Tourism
0.5 year impact V-curve rebound; Effective
pandemic control and economic stimulus
Ride the wave: boost supply to keep up
with demand surge
Push through and prepare for fast back-to-normal
upswing
Survive and prepare for relatively slow back-to-
normal recovery
Mothball large part of the business and prepare for
re-start
1.5 year impact U-curve recovery; Social distance measurements prolonged, economic
stimulus eases damage
Push for growth and market share
Defend, improve competitive position, and find new growth
Pivot through organic innovation and inorganic
growth, or divest
Pivot through organic innovation and inorganic
growth, or divest
3 year impact L-curve recovery; Failed pandemic control, and
wide-spread bankruptcies and credit defaults
Aggressive push for growth and market share
Defend, improve competitive position, and find new growth
Prepare for aggressive new entrants. Reinvent and create totally new position, or abandon
Last survivor strategy or abandon market
IMPACT ON YOUR ORGANISATION Direct impact of Covid-19 / Indirect impact of economic recession / Ability to adapt fast
SEVE
RITY
AN
D D
URA
TIO
N O
F EC
ON
OM
IC IM
PACT
G
DP
fore
cast
/ Pa
ndem
ic e
volu
tion
/ Eco
nom
ic p
olic
yAdapt your strategic response
lowtoucheconomy.com
Positive Revenue growth through
demand surge
e.g. E-commerce
Mildly negative Sustained revenue loss of
0-15% in Q2-4 2020
e.g. Consumer Goods
Severe Sustained revenue loss of
15-50% in Q2-4 2020
e.g. Oil and gas
Catastrophic Sustained revenue loss of
+50% in Q2-4 2020
e.g. Tourism
0.5 year impact V-curve rebound; Effective
pandemic control and economic stimulus
Ride the wave: boost supply to keep up
with demand surge
Push through and prepare for fast back-to-
normal upswing
Survive and prepare for relatively slow back-to-
normal recovery
Mothball large part of the business and prepare for
re-start
1.5 year impact U-curve recovery; Social distance measurements prolonged, economic
stimulus eases damage
Push for growth and market share
Defend, improve competitive position, and find new growth
Pivot through organic innovation and inorganic
growth, or divest
Pivot through organic innovation and inorganic
growth, or divest
3 year impact L-curve recovery; Failed pandemic control, and
wide-spread bankruptcies and credit defaults
Aggressive push for growth and market share
Defend, improve competitive position, and find new growth
Prepare for aggressive new entrants. Reinvent and create totally new position, or abandon
Last survivor strategy or abandon market
IMPACT ON YOUR ORGANISATION Direct impact of Covid-19 / Indirect impact of economic recession / Ability to adapt fast
SEVE
RITY
AN
D D
URA
TIO
N O
F EC
ON
OM
IC IM
PACT
G
DP
fore
cast
/ Pa
ndem
ic e
volu
tion
/ Eco
nom
ic p
olic
yAdapt your strategic response
lowtoucheconomy.com
Positive Revenue growth through
demand surge
e.g. E-commerce
Mildly negative Sustained revenue loss of
0-15% in Q2-4 2020
e.g. Consumer Goods
Severe Sustained revenue loss of
15-50% in Q2-4 2020
e.g. Oil and gas
Catastrophic Sustained revenue loss of
+50% in Q2-4 2020
e.g. Tourism
0.5 year impact V-curve rebound; Effective
pandemic control and economic stimulus
Ride the wave: boost supply to keep up
with demand surge
Push through and prepare for fast back-to-normal
upswing
Survive and prepare for relatively slow back-to-
normal recovery
Mothball large part of the business and
prepare for re-start
1.5 year impact U-curve recovery; Social distance measurements prolonged, economic
stimulus eases damage
Push for growth and market share
Defend, improve competitive position, and find new growth
Pivot through organic innovation and inorganic
growth, or divest
Pivot through organic innovation and inorganic
growth, or divest
3 year impact L-curve recovery; Failed pandemic control, and
wide-spread bankruptcies and credit defaults
Aggressive push for growth and market share
Defend, improve competitive position, and find new growth
Prepare for aggressive new entrants. Reinvent and create totally new position, or abandon
Last survivor strategy or abandon market
IMPACT ON YOUR ORGANISATION Direct impact of Covid-19 / Indirect impact of economic recession / Ability to adapt fast
SEVE
RITY
AN
D D
URA
TIO
N O
F EC
ON
OM
IC IM
PACT
G
DP
fore
cast
/ Pa
ndem
ic e
volu
tion
/ Eco
nom
ic p
olic
yAdapt your strategic response
lowtoucheconomy.com
Positive Revenue growth through
demand surge
e.g. E-commerce
Mildly negative Sustained revenue loss of
0-15% in Q2-4 2020
e.g. Consumer Goods
Severe Sustained revenue loss of
15-50% in Q2-4 2020
e.g. Oil and gas
Catastrophic Sustained revenue loss of
+50% in Q2-4 2020
e.g. Tourism
0.5 year impact V-curve rebound; Effective
pandemic control and economic stimulus
Ride the wave: boost supply to keep up
with demand surge
Push through and prepare for fast back-to-normal
upswing
Survive and prepare for relatively slow back-to-
normal recovery
Mothball large part of the business and prepare for
re-start
1.5 year impact U-curve recovery; Social distance measurements prolonged, economic
stimulus eases damage
Push for growth and market share
Defend, improve competitive position, and find new growth
Pivot through organic innovation and inorganic
growth, or divest
Pivot through organic innovation and inorganic
growth, or divest
3 year impact L-curve recovery; Failed pandemic control, and
wide-spread bankruptcies and credit defaults
Aggressive push for growth and market share
Defend, improve competitive position, and find new growth
Prepare for aggressive new entrants. Reinvent and create totally new position, or abandon
Abandon market
IMPACT ON YOUR ORGANISATION Direct impact of Covid-19 / Indirect impact of economic recession / Ability to adapt fast
SEVE
RITY
AN
D D
URA
TIO
N O
F EC
ON
OM
IC IM
PACT
G
DP
fore
cast
/ Pa
ndem
ic e
volu
tion
/ Eco
nom
ic p
olic
yAdapt your strategic response
lowtoucheconomy.com
Positive Revenue growth through
demand surge
e.g. E-commerce
Mildly negative Sustained revenue loss of
0-15% in Q2-4 2020
e.g. Consumer Goods
Severe Sustained revenue loss of
15-50% in Q2-4 2020
e.g. Oil and gas
Catastrophic Sustained revenue loss of
+50% in Q2-4 2020
e.g. Tourism
0.5 year impact V-curve rebound; Effective
pandemic control and economic stimulus
Ride the wave: boost supply to keep up
with demand surge
Push through and prepare for fast back-to-normal
upswing
Survive and prepare for relatively slow back-to-
normal recovery
Mothball large part of the business and prepare for
re-start
1.5 year impact U-curve recovery; Social distance measurements prolonged, economic
stimulus eases damage
Push for growth and market share
Defend, improve competitive position, and find new growth
Pivot through organic innovation and inorganic
growth, or divest
Pivot through organic innovation and inorganic
growth, or divest
3 year impact L-curve recovery; Failed pandemic control, and
wide-spread bankruptcies and credit defaults
Aggressive push for growth and market share
Defend, improve competitive position, and find new growth
Prepare for aggressive new entrants. Reinvent and create totally new position, or abandon
Last survivor strategy or abandon market
Covid-19 Strategy Matrix boardofinnovation.com Note: strategic response also depends on financial strength, competitive position and industry attractivity.
IMPACT ON YOUR ORGANISATION Direct impact of Covid-19 / Indirect impact of economic recession / Ability to adapt fast
SEVE
RITY
AN
D D
URA
TIO
N O
F EC
ON
OM
IC IM
PACT
G
DP
fore
cast
/ Pa
ndem
ic e
volu
tion
/ Eco
nom
ic p
olic
yAdapt your strategic response
lowtoucheconomy.com
latest updates: lowtoucheconomy.com
Build a winning strategy in 3 days
3x 0.5 day remote strategy workshops
‣ stakeholder intake ‣ industry research ‣ possible futures mapping
weekend
share out & alignment session
weekend
Discuss with an expert
Objective: Align your leadership team in 10 days – 100% remotely. Set priorities for your strategy in the Low Touch Economy. Discover potential growth paths and white spaces to venture in.
Outcome: A clear vision and guideline to navigate the difficult months ahead. Strategic initiatives to go on the offense with clear road maps for each concept (new offering/pivot/…), and top-level buy-in on all initiatives.
STRATEGY SPRINT: Low Touch Economy
3 days over a 10 day period
Positive Revenue growth through
demand surge
e.g. E-commerce
Mildly negative Sustained revenue loss of
0-15% in Q2-4 2020
e.g. Consumer Goods
Severe Sustained revenue loss of
15-50% in Q2-4 2020
e.g. Oil and gas
Catastrophic Sustained revenue loss of
+50% in Q2-4 2020
e.g. Tourism
0.5 year impact V-curve rebound; Effective
pandemic control and economic stimulus
Ride the wave: boost supply to keep up
with demand surge
Push through and prepare for fast back-to-normal
upswing
Survive and prepare for relatively slow back-to-
normal recovery
Mothball large part of the business and prepare for
re-start
1.5 year impact U-curve recovery; Social distance measurements prolonged, economic
stimulus eases damage
Push for growth and market share
Defend, improve competitive position, and find new growth
Pivot through organic innovation and inorganic
growth, or divest
Pivot through organic innovation and inorganic
growth, or divest
3 year impact L-curve recovery; Failed pandemic control, and
wide-spread bankruptcies and credit defaults
Aggressive push for growth and market share
Defend, improve competitive position, and find new growth
Prepare for aggressive new entrants. Reinvent and create totally new position, or abandon
Last survivor strategy or abandon market
IMPACT ON YOUR ORGANISATION Direct impact of Covid-19 / Indirect impact of economic recession / Ability to adapt fast
SEVE
RITY
AN
D D
URA
TIO
N O
F EC
ON
OM
IC IM
PACT
G
DP
fore
cast
/ Pa
ndem
ic e
volu
tion
/ Eco
nom
ic p
olic
yAdapt your strategic response
lowtoucheconomy.com
How others pivoted away from their core business
latest updates: lowtoucheconomy.com
From (old business) Pivot to (new business) Channel Market Offering
Their snow canon business line was set to see a long drop in demand so EmiControls had to find new growth areas.
They were able to modify their current product to tap into a new demand: disinfection of large open spaces. SIMILAR NEW REDESIGN
Intelligence Industrielle normally offers industrial IoT sensors and dashboards to track machines at industrial sites.
Today they offer interactive signage and crowd control solutions for pharmacists and retailers. NEW NEW SIMILAR
A drop in tourism and fashion pushed swimwear brand Granadilla in a new direction.
Granadilla is now putting most of their marketing towards new business lines: selling healthy food boxes via e-commerce. SIMILAR SIMILAR NEW
There will be less demand for private phone booths for open offices as people continue to work from home.
room.co is exploring new markets with a full redesign of their product. Safe-testing booths for medical personal is one of their growth options. REDESIGN NEW NEW
Offline art workshops and team-building sessions will take a while to recover.
ArtNight went all in and switched to online art courses.
NEW REDESIGN SIMILAR
latest updates: lowtoucheconomy.com
So in less than 30 days, they developed two new direct-to-consumer platforms: Pantryshop.com and Snacks.com.
‣ Setting up a webportal is easy ‣ The real challenges: Supply chains,
internal politics, leverage in the value chain,…
Case: PepsiCo Larger corporates rarely do a full pivot, but adapt.
latest updates: lowtoucheconomy.com
02 03 04
The Low Touch Economy is here to stay
The winners of the Low Touch Economy
Opportunities & white-spaces to venture in
Q&A
01
6 different white-space triggers in the Low Touch Economy
latest updates: lowtoucheconomy.com
Relevance in the Low Touch Economy:
1. Industry shifts Redesigned supply chains, new market entrants,…
High
2. New regulation Legal hurdles that are removed can open up new markets.
Medium
3. New consumer behavior When people act differently, they face new needs.
High
4. Societal changes Shift in demographics, new norms, and values.
High (But Delayed)
5. New tech When it becomes easier to solve specific problems.
Low
6. Access to new resources Network access, new assets, new partnerships…
Low
Expect a gold rush on new opportunities by:
- opportunistic companies with the right assets (they're in the pole position)
- companies hit by the crisis (they need to survive)
- new ventures created to jump on a new market
Industry shift
New regulation
New consumer behavior
Societal change
New resources/assets
New technology
6 triggers for white spaces
Expected impact on the Low Touch Economy
LOW
MED
IUM
HIG
H
Examples of white spaces & opportunities, triggered by different shifts
Dark stores
Nearshoring
Local automated warehouses
Local distributed businesses
Office redesigns
Digital venture partnerships
Virtual migration
Private remote diagnostic tools
B2B admin tools sensitive data
Risk profile calculators
New niche insurances
Remote court services
Authentication services
Health/wellness at home
Optimise ecommerce
Rental equipment at home
Informal video communication
B2B tools scaling services
Personal security services
Remote health tracking
Elderly IT support
Alternative family gatherings
Remote activity monitoringSupply chain
transparency
Available workforce
Mergers for new scale
Surveillance tools
New health tech
Local tourism partnerships
Data modeling
latest updates: lowtoucheconomy.com
Industry shift
New regulation
New consumer behavior
Societal change
New resources/assets
New technology
6 triggers for white spacesLO
WM
EDIU
MH
IGH
Examples of white spaces & opportunities, triggered by different shifts
Dark stores
Nearshoring
Local automated warehouses
Local distributed businesses
Office redesigns
Digital venture partnerships
Virtual migration
Private remote diagnostic tools
B2B admin tools sensitive data
Risk profile calculators
New niche insurances
Remote court services
Authentication services
Health/wellness at home
Optimise ecommerce
Rental equipment at home
Informal video communication
Personal security services
Remote health tracking
Elderly IT support
Alternative family gatherings
Remote activity monitoringSupply chain
transparency
Available workforce
Mergers for new scale
Surveillance tools
New health tech
Local tourism partnerships
Data modeling
latest updates: lowtoucheconomy.com
Expected impact on the Low Touch Economy
B2B tools scaling services
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Example: Second-order B2B support tools
Trigger consumer behavior + new regulations
New expectations: “Social distancing eating”
Restaurant owners will redesign their facilities.
e.g. IT tools to maximize use of commercial space
White-space opportunity: new problems to solve
48
Example: PlanFinder.xyz
AI-service for space re-design
Use cases far beyond hospitality Many industries need to rethink how they use their available space.
Industry shift
New regulation
New consumer behavior
Societal change
New resources/assets
New technology
6 triggers for white spacesLO
WM
EDIU
MH
IGH
Examples of white spaces & opportunities, triggered by different shifts
Dark stores
Nearshoring
Local automated warehouses
Local distributed businesses
Office redesigns
Digital venture partnerships
Virtual migration
Private remote diagnostic tools
B2B admin tools sensitive data
Risk profile calculators
New niche insurances
Remote court services
Authentication services
Health/wellness at home
Optimise ecommerce
Rental equipment at home
Informal video communication
B2B tools scaling services
Personal security services
Remote health tracking
Alternative family gatherings
Remote activity monitoringSupply chain
transparency
Available workforce
Mergers for new scale
Surveillance tools
New health tech
Local tourism partnerships
Data modeling
latest updates: lowtoucheconomy.com
Elderly IT support
Expected impact on the Low Touch Economy
50
Example: Low Touch Economy elderly support
Rise of “reversed parenting”, younger generations taking care
of vulnerable family members
- Remote IT support - Educate sharing of misinformation - How to behave & protect yourself
at family gatherings, in public,… - …
Trigger Societal shift
White-space opportunity: new problems to solve
EXAMPLE SHIFTSMEDIA
NEUTRAL IMPACTREAL ESTATE
LIMITED IMPACTCONSTRUCTION LIMITED IMPACT
AUTOMOTIVE SEVERELY IMPACTED
HOSPITALITY SEVERELY IMPACTED
Customer segregation/Employee segregation: Vulnerable groups are separated from other groups.
Value-added crowd control: Make it more attractive for clients to participate in the economy in smaller groups.
Human-free service models: Employees who have close contacts with each other or clients are a liability and must be avoided
Hygiene theatre: Excessive cleaning processes, with a special focus on the communication/signaling effects.
Match shifts with industries to spot white spaces
latest updates: lowtoucheconomy.com
EXAMPLE SHIFTSMEDIA
NEUTRAL IMPACTREAL ESTATE
LIMITED IMPACTCONSTRUCTION LIMITED IMPACT
AUTOMOTIVE SEVERELY IMPACTED
HOSPITALITY SEVERELY IMPACTED
Customer segregation/Employee segregation: Vulnerable groups are separated from other groups.
Video/digital support for vulnerable groups to participate in social activities via virtual
platforms.
The same clients always gets assigned to the same
agent to avoid mixing groups.
New incentives & regulation for migrant workers to allow
them to travel, but to remain isolated from other
people.
Restricted test drives, vehicles exclusive for
certain customers. (partial virtual simulation)
Hire older generations as staff to serve only older
customers.
Value-added crowd control: Make it more attractive for clients to participate in the economy in smaller groups.
3D scanning service for retail to scan their products
so a significant part of regular customer journey
can start remote..
Shared/ public buildings renovated to accommodate
waypoints or pathways to steer the flow of visitors in order to avoid each other.
Increase pay for generalist contractors, so the same group of people can do
different tasks.
Tracking services to create cool-down times between
the usage of shared vehicles.
Restaurants spread out to nearby unique buildings
(experience!) in the area so people can eat with enough
space between them.
Human-free service models: Employees who have close contacts with each other or clients are a liability and must be avoided
Increase of 1 man production crew, supported
remotely.
More on-site automated deliveries between
industrial/ office buildings. - new upgrades needed:
gates, lanes, charging spot
More prefab and simplified construction options to limit human
interaction on site.
Digital tools to support remote inspections to avoid
that clients need to visit garages & distribution
centers.
Robo-kitchens with self-service restaurant
experience
Hygiene theatre: Excessive cleaning processes, with a special focus on the communication/signaling effects.
Live video feeds of crowds broadcasted to alert people when physical distancing is
not respected.
Highly visible airco add-ons to disinfect air flows.
Rugged gowns, masks and gloves that are designed to
be used on construction sites.
Mobile disinfecting units on parkings to quickly clean
vehicles, ebikes,... after use
Bring your own plates/ utensils/ eatlery to
restaurants to avoid sharing
Match shifts with industries to spot white spaces
latest updates: lowtoucheconomy.com
Which of the below best describes your organisation’s response to new market opportunities right now?
1. Strategic (we make strategic choices, and make bold investments)
2. Fast mover (we have launched new products/businesses already)
3. Experimental (we have some innovation experiments here and there)
4. Defensive (we mostly focus on protecting the current business)
Poll:
latest updates: lowtoucheconomy.com
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Moving ahead requires an iterative approach
MONITOR NEW NORMAL1
We suggest running 3 activities in parallel and iteratively, to act at speed in a fast-moving environment.
IDENTIFY OPPORTUNITIES
VALIDATE & LAUNCH
MAY JUNE JULY
2
3
57
Key take-aways:
lowtoucheconomy.com
02 03
The Low Touch Economy is here to stay
Learn from winners and early movers
There have never been more opportunities
01
latest updates: lowtoucheconomy.com
We monitor the new normal and map out your organization’s possible futures.
We spot +30 white space opportunities for you to act on in the Low Touch Economy.
We validate and launch new products and businesses at startup speed.
Ready to act on the new white space opportunities?
Discuss with an expert
latest updates: lowtoucheconomy.com
Thank you and stay safe!
Philippe De Ridder CEO/co-founder [email protected] Connect on linkedin
Board of Innovation is a global strategy and business design firm with clients including Danone, Philips, ING, Roche, Toyota, and many more. notify me about new reports