Joining winners of the Low Touch Economy

LOW TOUCH ECONOMY REPORT
The gold rush on

the new normal
How companies can recover and grow
in the Low Touch Economy.
boardofinnovation.com
lowtoucheconomy.com
latest updates: lowtoucheconomy.com

This is the main question we'll be tackling in this
How can I join the winners new and updated report. And we hope you find
of the Low Touch Economy? the answers we provide valuable. If you have
any question or feedback, feel free to reach out
to us via the details below.
Phil & Nick

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-$
Philippe De Ridder
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philippe@boardofinnovation.com
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Very few companies are winning in the

current economy
Nick De Mey
Insights Lead/co-founder
nick@boardofinnovation.com
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Chapters
1. What is the Low Touch Economy?

- Status of the new normal
Looking at the current state
2. Adapting your organization’s strategy
- Impact & strategy framework
3. Short-term opportunities to grow

- Copy solutions from frontrunners
4. Long-term opportunities: new white spaces Looking at the future

- Explore business model pivots
5. The future of X
- 10 expert perspectives
Chapters

Looking at the current state

4. Long-term opportunities: new white spaces Looking at the future

5. The future of X
Welcome to the Low Touch Economy
The Low Touch Economy is the new state of our society
and economy, permanently altered by Covid-19. It is
characterized by low-touch interactions, health and
safety measures, new human behaviors, and permanent
industry shifts.
The Low Touch Economy is here to stay. It offers

unseen opportunities for innovators to make bold
moves, now.
Board of Innovation’s first report on the post-pandemic

world has been read +100,000 times.
The Low Touch Economy has been featured in:

The Low Touch Economy touches every part of our lives
Professional context Family context Social context
Redesigned factory floors to keep Zoom babysitters helping parents Attempts to make dining out safe
workers safe. at-home while doing chores or work. and enjoyable at the same time.
Robots replacing high-risk human Visiting vulnerable family members Virtual concerts attempting to
interactions in service businesses. behind glass. replace offline events. 7

The feedback loop of the Low Touch Economy
A series of pandemic-control health measures lead to behavior shifts and economic disruption; creating a
fairly unpredictable system all together. The longer the health measures sustain, the more fundamental the
behavior shifts and economic disruptions will be.
Employees & consumers only

participate in the economy
Health measures when they feel safe Economic disruption
Low Touch measures to fight Mitigate the impact of the crisis,
current and future crises. both at the macro and micro level.
Restrict & nudge People move New consumer needs emerge. Pressure on
people the virus around Acceleration of product adoption family budget
Behavior shifts
People change how they interact
with each other and with businesses.

Most experts agree, it will be a
long, slow, bumpy recovery.
First-order Low Touch characteristics (manage health crisis)
Second-order Low Touch characteristics (manage economic crisis)
Gradual exits from More info: lowtoucheconomy.com

lockdowns Early 2021
SOCIAL DISTANCING Vaccine =
Don’t get close to others, limit widely available * Height and frequency of subsequent waves
physical interactions,… is dependent on:
- effectivity advances in mass testing & tracing
Measures fluctuate up
- effectivity advances in treatment
HYGIENE PRECAUTIONS & down to mitigate new
- immunity share of population
Hand-washing, masks, outbreaks *
disinfecting,…
TRAVEL RESTRICTIONS
Between & within nations,
people and/or goods Plateau after vaccine
Full recovery to a
new normal
LIMIT LARGE GATHERINGS
No events, limit interactions to
close family,…
FIRST SHOCK AFTERSHOCK AFTERSHOCK AFTERSHOCK AFTERSHOCK

Covid-19 outbreak Mass unemployment, Example: Example: …
bankruptcies,… Rise nationalism Euro collapse

The next 1-2 years will be
a new normal. Design of a Low Touch Business
Based on Low Touch interaction between

What is the Low Touch Economy? customers & employees
Successful companies in this era will be those that adapt their +

business models to work with the different health measures and Able to operate with restrictions:
other challenges that the Covid-19 crisis presents. Reduced travel bans & new hygiene measures
physical interactions between employees and consumers as a
+
result of social-distancing measures is one of the most noticeable
Limited access to vulnerable groups,
constraints on business as usual, which is why we coined the term
no larger gatherings possible
Low Touch Economy.
+
While this mainly refers to physical distancing and related hygiene Flexible to navigate multiple after-shocks
measures, the Low Touch Economy also incorporates such in the global economy
constraints as travel bans, limitations on large gatherings, the +
isolation of vulnerable groups, etc. There will be a lot of instability.
But able to create High Impact via new
Organizations in this era need to adapt quickly.
innovations and improved business models.
10

What can we learn from
regions that are through
the (first) health-crisis peak?
Key learnings and insights
China recovery?
Jan 1 - May 6 Jan 1 - May 6
Many economic indicators point towards a reasonable

recovery, but a full recovery is not yet in sight for China. Traffic
congestion and air pollution are almost back to normal. But
other parts of everyday life are still completely disrupted.
12

A process of trial & error
China opened up theatres again, but For months, Singapore had the spread of the virus under
quickly reversed this decision over control without implementing strict measures. Then, in late
fears of a second wave. April, it introduced a lockdown as well.
13

Society restarts, but not
everything feels normal.
May 1 May 8
Hong Kong tries to resume daily life as normal. Hong Kong – following 19 days of 0 local infections,
Gradually, retail stores & theatres began to reopen. bars/restaurants began to attract crowds again.
Tables/bookings of up to 8 people were once again
allowed. Nightclubs/karaoke bars remained closed.
14

Society restarts, but not
everything feels normal.
China – Schools reopened but with South Korea, May 5 - Sports leagues resume South Korea, May 6 - Several amusement
strict guidelines in place. games – without spectators. They expect to allow parks were reopened with physical
spectators and larger gatherings again soon. distancing measures in place. Pre-entry
temperature checks are common.
15
Sources: @rameshlaus
Always try to understand
the full local context
EXAMPLE: SWEDEN
Doesn’t allow: As a result:

- Gatherings of +50 people
- No school examinations
- Visiting elderly homes
- Theatres/concerts closed
- Close contact (physical
- Sport events canceled
distance restrictions are in - Most flights canceled
place in restaurants) - 70% fewer pedestrians
- People to enter the country
- 50% reduction in use of
(international travel public transport
restrictions are in place)
According to Google
Asks people to: Mobility data, Sweden has
- Stay at home when any
seen a significant drop in
symptoms appear outings for retail &
- Avoid social activities
recreation.
- Postpone visits to the elderly
- Keep distance from others
- Follow hygiene guidelines
Sources: https://www.krisinformation.se/, @pesta, @markkupeltonen 16

Many things will feel
normal again How we will perceive things
From these examples, it seems that once Covid-19 has been

successfully suppressed, businesses, consumer demand,
and social activities quickly return to normal (with health
restrictions in place). People will soon get used to health
Back to normal
checks, masks, and rearranged workplaces. It won't be the
60% Traffic jams, kids go to school again,
same as before, but it will feel normal quite soon. family parties, visiting the dentist, etc.
Still, certain industries will take a long time to recover. For

instance, travel bans and limitations on large gatherings will
impact the tourism and event industries for years to come.
New things that quickly feel normal
Where politicians (for whatever reason) decide not to enforce 20% Lots of shops and restaurants missing,
groceries being delivered, digital
strong restrictions, the virus will continue to spread in that university degrees, etc
society. This will increase the duration of economic instability in
New things that will not feel normal
these regions. So unless consumers decide to accept sickness
and death as acceptable byproducts of their interactions, it’s
20% Security gates/health checks, court
proceedings via Zoom, wearing mouth
unlikely the economy in these environments will fully recover. masks, etc.
17

Our assumption for most industries: U-curve
Positive Mildly negative Severe Catastrophic
Revenue growth through Sustained revenue loss of Sustained revenue loss of Sustained revenue loss of
SEVERITY AND DURATION Regions
demand surge
with stricter policies
0-15% in Q2-4 2020
are expected to recover +50%
15-50% in Q2-4 2020
sooner.in Q2-4 2020
OF ECONOMIC IMPACT
GDP forecast / Pandemic evolution
e.g. E-commerce e.g. Consumer Goods e.g. Oil and gas e.g. Tourism
/ Economic policy
In an ideal world, we'd quickly eliminate Covid-19 by having all citizens stay home for 2-3 weeks.
Sick people would stop spreading the virus, and it would simply die out.
0.5-year impact
Ride the wave: Push through and prepare Survive and prepare for Mothball large part of the
V-curve rebound: Effective However, parts of our society and economy can't stay home, so that scenario is unrealistic – it only
boost supply to keep up for fast back-to-normal relatively slow back-to- business and prepare for re-
pandemic control and exists in mathematical models. Lockdown or no, we still need food, sanitation, and healthcare. So
with demand surge upswing normal recovery start
economic stimulus how do we minimize the spread while keeping these industries moving? The answer is stricter
policies.
1.5 year impact

Rather than keep everyone inside, some governments are enforcing quarantines for suspected
U-curve recovery: Social Defend, improve Pivot through organic Pivot through organic
coronavirus cases and their contacts. To ensure compliance, several regions (mostly Asian) have
Push for growth and market
distancing measures competitive position, innovation and inorganic innovation and inorganic
share
used invasive surveillance and tracking tools in combination with hefty fines for rule-breakers.
prolonged, economic and find new growth growth, or divest growth, or divest
stimulus eases damage Such strict policies, together with requiring mouth masks (and more), seem to be very effective in
crushing and controlling the pandemic. So those economies will likely recover fastest.
3 year impact
The same strict policies don't seem to get support in large
Prepare forparts of Europe
aggressive new and the Americas,
L-curve recovery: Failed Defend, improve
Aggressive push for growth
which entrants. Reinvent and
means it will take them longer to bounce back. Last survivor strategy or
pandemic control, wide- competitive position,
and market share create totally new position, abandon market
spread bankruptcies and and find new growth
or abandon
credit defaults
18

The early days of the Low Touch Economy
Early signs and industry examples
Emerging Low Touch
Economy: Tourism
Hong Kong: booths to
disinfect airline personnel
when entering airports
Turkey: Çeşme region
‣ Pilot tourism measure: coronavirus-free certification program
‣ Hotels max at 60% occupancy rate to avoid crowded spaces
‣ Hotel rooms to remain empty for 12h between visitors
‣ Dedicated quarantine areas to quickly isolate new patients
Emirates Airlines Conceptual design by

‣ On-site rapid Covid-19 tests for passengers in collaboration with Avio Interiors to make air
the Dubai Health Authority travel safer
‣ On-board food and packaging redesign to reduce contact
during meal service
International safe-travel zones

‣ Nations work together to enable quarantine-free travel, e.g. New
Zealand and Australia explore a travel alliance, Austria considers
Hong Kong: travelers wear
allowing free travel from Germany. e-bracelet to monitor 2-
week home quarantine
20

Emerging Low Touch
Economy: Mobility
Modified Honda with a
pressurized air compartment
Public transport vs individual transport to keep the driver safe.
‣ Crowded public transport avoided as much as possible
‣ In certain reopened regions, scooters are more popular for
traveling distances
‣ Personal car usage quickly recovers
Car sharing: Lyft, Uber, etc.

‣ Due to the drop in demand, Uber & Lyft had to lay off 3700 Rental cars with new
cleaning standards and
people and 982 people respectively (14% & 17% of their
safety labels.
workforce)
‣ Passengers and drivers will be asked to wear masks
Autonomous vehicles
‣ Human drivers are costly and a potential safety hazard for
passengers. The rollout of autonomous shuttles or delivery Milan and many other cities are
vehicles will be accelerated (e.g. Beep Shuttles were used in adding “temporary” bike lanes.
Florida to delivery tests to the Mayo Clinic) Many city redesigns will
become permanent.
21

Notable Low Touch examples in other industries
Singapore sends SPOT robot Opera visitors in Taiwan need to

patrols to public parks to keep 3 seats empty in between
monitor and encourage each other. Many cinemas are
physical distancing. experimenting with drive-ins.
Numerous restaurants are Hair salons and other close-

trying to find the right contact service jobs are hiring
balance between safety, professional crews to disinfect
comfort and cosiness. material between shifts.
VRT, The Belgian national

broadcaster, experiments with
Getting married with 100
distance-detecting bracelets to
guests calling in via Zoom
protect actors while recording
might not be for everyone.
shows.
22

But don’t expect this to become mainstream soon
BIOVYZR by VYZR Tech PlexEat by Gernigon Studio
This crisis has unlocked a lot of creativity in
people. Many engineers, architects, and
designers have been developing new
concepts for the Low Touch Economy. But
not every concept will be widely adopted.
If you spot remarkable innovations, feel

free to send them over. We're always on
the lookout for better examples.
Sunglass face shield by Joe Doucet Knuffelscherm by STAS & FARO

23

Are you prepared for
The Low Touch Economy?
CHECKLIST 1
Rate your readiness level for the Low Touch Economy

1 2 3 4 5
Employee Is physical contact between employees and/ Results: Lower scores are better
interactions or clients needed to conduct business?
1 = doesn’t apply to your situation
Client Clients and/or employees need to share the 5 = applies to your situation
interactions same equipment or objects?
‣ Score 1 or 2 at all sections?

Physical Clients or employees share the same indoor
location
You should be able to adapt your
spaces
organization with minor tweaks to
Employee Employees work in groups closely together
the Low Touch Economy
gatherings to run your business
‣ Any score 3, 4 or 5 needs to be
addressed. This could reflect a
Client Clients are in groups to enjoy your product or
Gatherings service
significant hurdle to grow in the
Low Touch Economy
Your employees or clients are (partly) ‣ A total score above 25? You will
Extra vulnerable
vulnerable groups like elderly, …
need to redesign a large part of
your business model and/or
Client or employees need to travel
Travel operating model to play any role in
(local vs international)
the Low Touch Economy.
Your business model is dependant on local or ‣ The higher the score, the more agile
Supply chain
international supply chain
your organization needs to be. You
must prepare for potential
Demand volatility of your business model is
Demand aftershocks in the market.
closely correlated with the health crisis 25

CHECKLIST 2
How can you redesign your organization?

General Customer-facing units Warehouses & distribution Offices Manufacturing
‣ Limit third-party interactions ‣ Develop and expand new ‣ Hand-offs will take place outside ‣ Consolidate entrances and exits to ‣ Contractors only when
External ‣ Change interaction formats (business) models for customer warehouse with no interaction control traffic essential
interaction ‣ Screen external collaborators touchpoints & interactions ‣ Provide catered lunches ‣ Self-screening before on-
‣ External-guest registration & screening premise by visitors
‣ Distributed workforce ‣ Reduce store hours or close ‣ Reschedule trainings to online, ‣ Continue remote working ‣ Stagger shifts
‣ Identify jobs that might be locations remote or small groups ‣ Limit office work by ‘batching’ ‣ Gap between shifts
Staffing fulfilled remotely full time ‣ Increase store hours but spread ‣ Boost hiring for increased sick leave employees based on ID number or
‣ New job routines with attendance by appointment & increased demand project teams
staggered with on-site/WFH
‣ Compensation adapted to risk ‣ Bonuses for staff working high- ‣ Pre-payment of bonuses ‣ Increased sick-leave when in
HR ‣ Dedicated bonus or benefits risk periods or jobs ‣ Quarantined paid leave with doubt
n.a.
benefits ‣ Salary adaption ‣ Health checklists temperature screening or antibody ‣ Additional hourly production
tests bonus
‣ New protocols to respond to ‣ PPE provided ‣ No stand-up meetings – replaced ‣ PPE ‣ Advanced screening and
positive cases ‣ Limit number of people on-site, with signage and new personal ‣ Temperature screening at entry & exit employee contact tracing
Personal
‣ Employee risk profiling eventually replace by communications forms ‣ Increase hand washing & sanitizer ‣ Establish a response team in
safety
‣ Quarantine policies automation (self-checkout, stations case of positive screening
‣ PPE guidelines vending machines…)
‣ Reduce risk of virus spread ‣ Installation of protective screens ‣ No more post-shift assessments, ‣ Install protective screens & reconfigure ‣ Modification of work areas
‣ New spatial configuration and sanitizer stations ‣ Staggering of shifts distance between desks ‣ Daily disinfectant spray after
Physical
‣ Limit interactions ‣ Increase cleaning intervals on ‣ Increased signage ‣ Eliminate open floor plan closing hours
workspace
‣ Cleaning protocols specific high-touch areas ‣ Reconfigure break rooms for ‣ One-way walkways ‣ Staggered break times and
isolation ‣ Improved air filtration social distancing canteens
‣ Limit public transport ‣ International travel only by exception ‣ No non-essential business

Travel ‣ Strict travel rules ‣ Only critical domestic travel with travel
n.a. n.a. 26
policies ‣ New travel behaviors like increased approval measures
mouth masks & screening
Chapters



4. Long-term opportunities: new white spaces

5. The future of X
Some businesses are slow
to accept reality.
Blockbuster release dates are being pushed Cruise lines are rushing to start selling tickets Airlines are working towards phasing out
back with just weeks to spare. Christopher again, though it’s very unlikely foreign nations restricted scheduling; Many are planning
Nolan's Tenet, for example, is stubbornly will be willing to accept an infected ship into (hoping) to restart operations early Summer
fixed for July 17. Clearly, studios are still their ports. already.
betting on theatres fully reopening soon.
28

While others
make Low Touch
their long-term
plan.
Some companies are starting to work
with scenarios that don’t forecast a short-
term recovery. For instance, Twitter
announced that all employees can now
work from home, forever.
29

So far, society and the economy
have taken serious damage
How is your organization doing?
Our research results on economic impact
WHAT IS THE IMPACT ON YOUR ORGANIZATION’S REVENUES IN 2020?
Positive 15%
+$
-$ Mildly negative 40%
Severe 35%
Catastrophic 10%
(so far) N = +750, companies all industries, global All companies 100%
Many companies experienced significant revenue the economy will jump back to a normal state, but
losses, but some managed to grow in these not all. If just 20% of companies don't recover
turbulent times. The differences can be extreme. quickly, it will have several ripple effects in our
economy.
After a couple of weeks, some companies were
already going bankrupt, while others couldn't hire Based on our conversations with companies in
fast enough to cope with rising demand. Once every possible industry, just 15% of companies
the health crisis is under control, many parts of seem to have seen a positive impact so far. 31

Based on your assessment, can you adapt your strategy?
IMPACT ON YOUR ORGANIZATION
Direct impact of Covid-19 / Indirect impact of economic recession / Ability to adapt fast

demand surge 0-15% in Q2-4 2020 15-50% in Q2-4 2020 +50% in Q2-4 2020
SEVERITY AND DURATION OF ECONOMIC IMPACT
GDP forecast / Pandemic evolution / Economic policy
0.5 year impact

V-curve rebound: Effective
boost supply to keep up for fast back-to-normal relatively slow back-to- business and prepare for
pandemic control and
with demand surge upswing normal recovery re-start
economic stimulus
1.5 year impact

Push for growth and
distance measurements competitive position, innovation and inorganic innovation and inorganic
market share
stimulus eases damage
3 year impact
Prepare for aggressive
Aggressive push for new entrants. Reinvent Last survivor strategy or
pandemic control, and competitive position,
growth and market share and create totally new abandon market
wide-spread bankruptcies, and find new growth
position, or abandon
and credit defaults

Strategy Matrix: winners in the Low Touch Economy

0.5 year impact

boost supply to keep up for fast back-to-normal relatively slow back-to- business and prepare for
with demand surge upswing normal recovery re-start
economic stimulus
1.5 year impact

Push for growth and
distance measurements
market share The firstposition,
competitive winners innovation
of and inorganic innovation and inorganic
stimulus eases damage the Low Touch Economy?
3 year impact
wide-spread bankruptcies and find new growth
and credit defaults

5 examples of potential winners
larger companies who are in the right position to this new wave
Platform to connect Tools to support Healthy food delivered Safe at-home Alternatives for
with remote customers e-commerce at home workouts supply chain
E.g. ByteDance (Tiktok) E.g. Shopify E.g. Panera Bread E.g. Peloton E.g. Beyond Meat
34

PLATFORM TO CONNECT WITH REMOTE CUSTOMERS
ByteDance
This Chinese streaming giant exploded onto the international scene during
the Covid-19 crisis with its video-sharing social network, TikTok – reaching a
world full of people craving fun and interaction while at home. At the same
time, quick decision-making and partnerships have placed ByteDance at the
forefront of film streaming and online education in China as schools and
cinemas were forced to close.
TikTok’s global expansion

‣ The coronavirus pandemic led to an explosion in TikTok’s use
internationally, cementing it as the newest global social media
phenomenon (1.5bn monthly users) with everyone from doctors and
nurses to celebrities sharing short clips of themselves lip-syncing to
music.
From short-form to silver screen at scale

‣ After Covid-19 forced the closure of most of the nation’s cinemas over the
usually packed Chinese New Year, they partnered with Huanxi Media ‣ Chinese internet ‣ 30,000 employees
Group to release blockbuster Chinese film Lost In Russia on its streaming
platforms technology company ‣ Revenue (2019): €20b
‣ Lost in Russia racked up an astonishing 600 million views in a matter of ‣ Worldwide (HQ: Beijing)
days and ByteDance’s partnership with Huanxi grew with the release of
more film titles.

TOOLS TO SUPPORT E-COMMERCE
Shopify
This e-commerce platform is touted as one of players best placed to
challenge Amazon’s dominance with 1 million online businesses and over
100,000 point-of-sale systems. When Covid-19 forced the rapid closure of
brick-and-mortor stores, Shopify was able to help them quickly switch and
retain crucial lost sales revenue.
Supporting retailers to go Low Touch

‣ Shopify have enabled many of their retail store customers to shift sales
online, using curbside pick-up or delivery solutions.
‣ According to Shopify, retailers who were forced to close their physical
stores were able to make up 94% of the sales volumes online that they
had lost from in-store transactions.
A versatile set of offerings for the Low Touch economy

‣ Shopify isn’t just an e-commerce platform, their diverse online and
physical sales solutions offer flexibility for retailers to keep selling no
matter what phase of lockdown might be in place. E-commerce platform ‣ 5,000+ Employees
‣ They recently launched Shop, a new consumer-oriented shopping app
that lets shoppers access a searchable feed of products from its ‣ Worldwide (HQ: Canada) ‣ Revenue (2019):
merchants - in direct competition with Amazon. €1.5bn

HEALTHY FOOD DELIVERED AT HOME
Panera Bread
This restaurant chain quickly responded to the Covid-19 crisis by introducing several
redesigns to their business model. It could become one of the bigger brands able to
shift successfully to a new format, ready for a Low Touch Economy.
Low Touch distribution channels

‣ Last summer they partnered already with digital channel Grubhub to provide
contactless delivery in under one hour.
‣ Introduced curb-side pickup
‣ E-commerce was already 50% of their revenue
Extra focus on health & safety

‣ Wellness will become more important (brand is linked with fresh food)
‣ New temperature-checks for employees
‣ Interior design upgrades (e.g. plexiglass)
New vertical (new market)

‣ Delivery of basic groceries based on their existing product offerings (fresh produce,
dairy, bread, and bagels)
‣ CEO aims to keep this business line after the crisis
‣ Bakery cafe/casual ‣ 50,000 employees
Go beyond restaurant chain Revenue (2019):
‣ They aim to provide 500,000 meals to children and families sheltering in place
2000 locations (US, CA) $5.7bn

SAFE WORKOUTS AT HOME
Peloton
This at-home exercise company couldn’t have predicted that most gyms
would be forced to close across large swathes of the world giving it prime
access to people searching for home workout options. Questions remain
about if its success can be sustained as lockdowns subside, but it’s almost
1-million subscribers put Peloton in a very good position.
Steady growth in app downloads & hardware sales

‣ Since Covid-19 hit, Peloton’s total number of fitness subscribers almost
doubled to 886,000. In just six weeks, more than 1.1m people
downloaded the Peloton Digital app.
‣ In March, they announced they would offer a 90-day trial of home
workouts that did not require the $2,245 Peloton bike or its $4,295
treadmill.
Well-placed to go fully remote

‣ Unable to offer live classes in their dedicated studios, the company
shifted to at-home exercise classes live-streamed from their instructors’ ‣ Exercise equipment and ‣ 1,800+ employees
homes.
‣ Their biggest challenge has been trying to keep up with demand and
media ‣ Revenue (2020
deliver the physical equipment to customers quickly enough. ‣ Worldwide (HQ: New York) expected): $1.6bn
‣ First quarter earnings were up 66%

ALTERNATIVES FOR SUPPLY CHAIN UNDER PRESSURE
Beyond Meat
This plant-based meat producer is the leader in a growing pack of meat
alternatives. After years of developing their own ‘almost real’ recipes, the
coronavirus has presented the perfect moment to gain ground as a crisis
envelopes the US meat supply chain. With double the profit margins, and
without the climate and animal cruelty-related baggage of traditional
meat producers, Beyond Meat is ready to pounce.
A brand and product for the future, ready to go now

‣ Beyond Meat are positioning themselves to take over from traditional
meat producers.
‣ As the public distaste for meat markets (like the one in Wuhan), animal
cruelty, and climate inaction grows, they are stepping in to offer
consumers a positive alternative.
Meat shortages present a golden opportunity

‣ Coronavirus has sabotaged US agricultural supply chains and
production capacity. Leading to meat wholesale price hikes of up to ‣ Vegan food products ‣ 400 Employees
€30.
‣ Beyond Meat plans to use this window to introduce new consumers to
Worldwide ‣ Revenue (2019):
their product, with aggressive in-store discounting and special (HQ: El Sugundo, US) $298M)
promotions with quick-service restaurant partners.

Strategy Matrix: how to adapt and pivot?

In this situation, alternative

0.5 year impact

boost supply to keep up
growth paths are needed.
for fast back-to-normal relatively slow back-to- business and prepare for
economic stimulus
with demand surge See Chapter upswing 3 & 4 normal recovery re-start
1.5 year impact

Push for growth and
distance measurements competitive position, innovation and inorganic innovation and inorganic
market share
stimulus eases damage
3 year impact
wide-spread bankruptcies and find new growth
and credit defaults

Opportunities at Innovate in the core
of your organization
Explore adjacent
opportunity spaces
Jump to white-space opportunities
in the Low Touch Economy
different levels
Find new
clients/market
e.g.switch from
B2B to B2C
Depending on your situation and strategic

choice, you will have to follow a different
innovation strategy. When your key need is to
improve the core of your organization, you can
e.g. switch to a similar,
start from copying solutions from other players
but digital/remote service
and early movers in the market.
However, if you need to make a more ambitious e.g. create a new product,
move, potentially in a new white space, you will e.g. improved e.g.alternative for another need of your existing
need to operate in a lot more uncertainty. Make branding client
Keep existing logistic process
sure to validate multiple ideas in parallel to clients/market
increase your rate of success.
Keep your Find new
existing offering offering

We can help you with
a Strategy Sprint
Adapt your strategy to
weekend weekend the Low Touch Economy,
in just 10 days
‣ stakeholder intake 3x 0.5 day remote share out &
‣ industry research strategy workshops alignment session
‣ possible futures mapping
Objective: align your ExCo, in 10 days, 100% remote. Set priorities for your
strategy in the Low Touch Economy. Discover potential growth paths and
white spaces to venture in.
Outcome: A clear vision & 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.
Discuss with an expert

vincent@boardofinnovation.com

Chapters




5. The future of X

What can businesses do to
quickly restart and become part
of a new Low Touch Economy?
In this section, we'll illustrate experiments by
companies. If you face similar challenges,
these examples may inspire you to develop
your own solution.
44
The biggest roadblocks for companies right now
A. Broken relationships with

customers Many companies are under pressure.
What do they have in common?
B. Instant drop in demand
Other and/or related problems:

+$
Overall uncertainty makes it difficult to plan ahead.
-$
Constraints in supply & production
Political instability
Cash-flow/financial constraints
45

A. Broken relationship cause:
Point-of-sale is inaccessible
Problem
In both B2B and B2C contexts, clients are limited to
interactions with sales reps. Often the use of a physical
point-of-sale isn’t possible.
Solutions to copy?
‣ Go Instore offers a solution for salespeople in retail
enabling them to guide customers remotely via live
video and audio.
‣ Matterport helps realtors to make photorealistic scans

of properties to offer clients virtual tours.
‣ Send prototypes to your customers to discuss via

video.
‣ Act like Warby Parker and ship multiple items to your

client. Then let them pick, buy, & return the rest.
‣ B2B sales chatbots and virtual events are on the rise. Go Instore Matterport (real estate 3D scans)
46

A. Broken relationship cause:
Physical interaction restrictions
Problem
In order to operate, many service businesses need to
rethink how they create a new experience without having
large groups of people interacting with each other.
Solutions to copy?
‣ Some restaurants are switching to serving diners in
small compartments for added safety while
maintaining the social experience.
‣ Artists are switching to private showings for a limited

audience.
‣ Time restrictions are being enforced around how

long a client can visit a business.
‣ More drive-through service models are emerging:

strip clubs, theaters, raves, supermarkets, etc.
‣ Retail and service businesses are adopting Drive-through strip club Isolated compartment restaurant
appointment-based models.
47

B. Drop in demand cause:
Product safety concerns
Problem
Some clients will have concerns about the safety of using
your product or service. This might block people from
even buying your product in the first place.
Solutions to copy?
‣ Robots used in hospitals to disinfect rooms with UV
light are being redesigned for use in hotels.
‣ Public dashboards: track the health status of everyone

involved in the production/delivery of a product.
‣ Professions requiring close physical contact, like

dentistry, are implementing additional screens &
protective gear.
‣ New safety labels & certificates will pop up.
‣ Product redesigns: anti-viral materials, disposables,

easy cleaning/disinfecting. Dentist with protective shield UV-light robot in hotel
48

B. Drop in demand
2 options
The underlying needs Demand will not recover soon -

are still there. priorities have changed
Restaurants & bars: People still need to Fashion: No desire/occasion to dress up
socialize Automotive: A new car is too risky financially
Tourism: People still need to relax, escape, &
explore
49

B. Drop in demand
2 options

explore
As a company, offer an alternative solution for

the same “job to be done” for your existing clients.
50

Step 1: Understand the “job to be done” for your client
“People go on an
international holiday…”
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
51

Step 2: Spot substitutes, inside or outside your industry
Depending on your assets, it
might be easier to offer
a substitute
“People go on an
international holiday…” within travel/tourism outside of travel/tourism
To disconnect from work
To connect/bond with family/friends
To meet new people

Many tourism agencies switch to
To have a new experience local experiences (e.g. “Van Life”)
To brag on social media (status)
To learn something new People switch to gaming &

streaming to disconnect.
To be served/for convenience A hotel experience at your home,
including a virtual concert, food
To reduce stress boxes, concierge. (link)
To belong to a certain group/fit in
To feel rewarded for hard work Instead of wellness resorts, they

offer virtual relaxation sessions.
52

B. Drop in demand

explore
As a company, you might want to switch to

As a company, offer an alternative solution for a new client segment and/or new product
the same “job to be done” for your existing clients. (white space exploration)
53

Chapters




5. The future of X
A forced reset of our society is
the perfect opportunity to
explore new areas for growth!
Shifts in behavior, new regulation,

accelerated adoption of tech – it's the
moment innovators have been waiting for.
55
Over the last decades, product adoption curves got steeper
Technology adoption The rate of product adoption has been

US households accelerating for decades. We're so
connected now that a successful
innovation can spread around the globe
in just a matter of days.
lowtoucheconomy.com
now more than ever
Adoption
100%
50%
In just 2-3 months, the world rapidly

adopted a spate of new habits. This led
to a range of products suddenly enjoying
0% a much larger client base. Adoption
Time curves looked almost vertical.
lowtoucheconomy.com
Example: Late majority catches up in e-commerce
male
Adoption
E-commerce
100%
Over 1/3 of people had
never shopped online
pre-pandemic
(US DATA)
50%
female 25% of these

people are now
online shoppers
0%
Time
source: statistica.com n=2200, March 24-26 2020 today
lowtoucheconomy.com
Example: E-health not just for early adopters anymore
Adoption
100%
E-therapy
50%
0%
Time
source: Forbes.com Apr 2, 2020
today
lowtoucheconomy.com
Keep an eye on new habits (like these) to understand
where potential white spaces can emerge.
Contactless payments are already up 40% (according Lots of people have adopted healthier lifestyles – People have been investing in e-bikes for recreational
to Mastercard, April 30) almost 45% of US citizens started cooking at home use and as a safer alternative to public transport.
using healthy ingredients. (source). Use of yoga, VanMoof (e-bike brand) noticed a global increase in
meditation, & mindfulness apps has increased. sales of 48% while in Britain purchases rose by 184%
between Feb and April.
60

New habits are just 1 reason why some
companies are winning.
Certain companies were already designed for the
Low Touch Economy
What do these companies
Can you copy certain aspects of their business have in common?
models to claim a piece of another market?
+$
-$
61

Business opportunities
at different levels
future business
Find new
clients/market
e.g.switch from
If you want/need to move away from B2B to B2C
your core business, you will most
likely end up with a different
business model. If speed is critical,
acquisitions in white spaces should
be considered. e.g. switch to a similar,
today but digital/remote service
In the following section, we illustrate

e.g. create a new product,
6 ways to find white spaces.
e.g. improved e.g.alternative for another need of your existing
branding client.
Keep existing logistic process
clients/market
Keep your Find new

existing offering offering

How others pivoted away from their core business
From (old business) Pivot to (new business) Channel Market Offering
Their snow canon business line was set to see They were able to modify their current product to
a long drop in demand so EmiControls had to tap into a new demand: disinfection of large open
find new growth areas. spaces. SIMILAR NEW REDESIGN
Intelligence Industrielle normally offers Today they offer interactive signage and crowd
industrial IoT sensors and dashboards to track control solutions for pharmacists and retailers.
NEW NEW SIMILAR
machines at industrial sites.
A drop in tourism and fashion pushed Granadilla is now putting most of their marketing
swimwear brand Granadilla in a new direction. towards new business lines: selling healthy food
boxes via e-commerce. SIMILAR SIMILAR NEW
There will be less demand for room.co is exploring new markets with a full
private phone booths for open offices as redesign of their product. Safe-testing booths for
REDESIGN NEW NEW
people continue to work from home. medical personal is one of their growth options.
Offline art workshops and team-building ArtNight went all in and switched to online art
sessions will take a while to recover. courses.
NEW REDESIGN SIMILAR

Case: PepsiCo
Larger corporates rarely do a full pivot, but adapt.
In general, we’ve found that the larger the business, the slower the
response to a market shift, but there are exceptions.
PepsiCo, for example, understood that at-home food consumption

would remain at higher levels for an extended period. So in less
than 30 days, they developed two new direct-to-consumer
platforms: Pantryshop.com and Snacks.com. On the first platform,
consumers can order specialized bundles of PepsiCo’s top-selling
brands including Quaker, Gatorade, SunChips, and Tropicana.
While Snacks.com, not surprisingly, is as an e-shop for snacks.
For new initiatives like these, getting a consumer-facing web

platform up and running is the easy part. Developing the right
supply chains and navigating the internal politics in a large
organization are the more difficult challenges to tackle.
In the next two months, we expect to see many large corporations

launching multiple experiments, as they try to tap into changing
market needs.

Public list of Business Model Shifts
Browse +50 business model pivots in our open Google Sheet
65

6 different white-space triggers in the
Low Touch Economy
Relevance in the Low
Trigger
Touch Economy:
1. Industry shifts High

Redesigned supply chains, new market entrants,…
2. New regulation Medium

Expect a gold rush on
Legal hurdles that are removed can open up new markets. new opportunities by:
- opportunistic companies
3. New consumer behavior High
When people act differently, they face new needs.
with the right assets (they're
in the pole position)
- companies hit by the crisis
4. Societal changes High
(they need to survive)
Shift in demographics, new norms, and values. (But Delayed)
- new ventures created to
jump on a new market
5. New tech Low
When it becomes easier to solve specific problems.
6. Access to new resources Low

Network access, new assets, new partnerships…

Important sidenote
‣ Before jumping on a potential new opportunity, you will
need to check the fit with your company.
Some criteria to take into account are:
• Access to market based on existing relationships

and partnerships
• Fit with strategy
• Fit with investment policy

White space Fit with your
opportunities organization
• Available assets
• …
‣ When there is only a minor fit, you could consider

mergers and acquisitions, strategic partnerships, or
explore corporate venturing options.
67

1. Industry shifts
Example white-space triggers
Low Touch Economy
industry shifts
‣ Supply chain redundancies
• Centralized supply chains will be split up to
have more redundancy to handle disruptions.
• Opportunities: services for nearshoring,
Example:
forward shipping, “dark stores," new logistic
Whole Foods Market
processes, cost-efficient local production
Whole Foods Market retailers
(automation services), etc.
created local dark fulfilment
centres by converting stores into
‣ Local, distributed businesses hubs for e-commerce and
logistics. Many retailers served
• Hygiene restrictions will force offices,
their online business from their
restaurants, theatres, and more to split up large existing supermarkets, but these
venues into smaller local units. When were never properly designed to
companies split up locally, supply chains and serve e-commerce at scale. They'll
processes need to be redesigned as well. need to develop dedicated units
to keep up with demand.
• Opportunities: office redesigns/co-working
hubs, network of local ghost kitchens…
69

Low Touch Economy
industry shifts
‣ Digital native players enter traditional markets
• Incumbents in traditional industries need to
keep an eye on digital players as they pivot
under pressure.
• Opportunities: Be proactive and set up Example: Zalando
partnerships to build new products together –
speed is critical here. Covid-19 severely hit the fashion
industry, including e-commerce
brands like Zalando. But they
‣ Virtual immigration have plenty of assets and
• When more businesses move to remote-first infrastructure in-house to move
to more lucrative verticals. But to
business models, it creates an opportunity for
where could this fashion player
players abroad to ‘migrate virtually’ and enter a
pivot? Health, food/groceries,
local market. entertainment, wellness? Time
• Opportunities: Real-estate companies will tell.
operating long distance competing with
traditional local agents.
70

2. New regulation
Low Touch Economy
regulations shifts
‣ Insurers hold the key to opening up markets
• When doctors diagnose and treat patients
remotely, it creates a whole new market,
but only if insurance policies and legal
frameworks by governments are updated.
This has the potential to boost (or restart)
other markets in turn – if insurers cover the
risk. For example, could they offer
insurance for hotels in case of a second
wave of infection? Example: Vouch (Insurtech)
• Opportunities: Dedicated diagnostic and Vouch (new startup) wants to

provide dedicated insurance
monitoring tools for remote health packages to complement
workers, along with data-tracking, and existing insurances when
sharing services to tap into the admin pandemic coverage is excluded.
flows of insurers (specific focus on
managing risk profiles).
72

Low Touch Economy
regulations shifts
‣ Remote courts & disruption in the legal industry
• In a matter of weeks, laws have been
introduced to allow the continuity of our justice
system while in lockdown. This industry ranked
very low on the digital transformation
leaderboards. The benefits of introducing
remote and digital tools in this area are
enormous. But so are the challenges related to
authentication, fairness, accessibility, privacy…
• Opportunities: From tools for reducing
paperwork to services for securing legal Example: Qase
transactions over digital realtime assistance, the
Qase (which enables you to consult
possibilities are endless in this space.
lawyers remotely) is one of the
Unfortunately, the year ahead will see an many new digital ventures that are
enormous rise in legal disputes around B2B perfectly positioned to grow when
contracts, claims, divorces, etc. Scaling legal courts move online.
services will be needed.
73

3. New consumer behaviors
Example triggers to explore white spaces
Low Touch Economy
consumer behavior shifts
‣ Claim a new vertical in a growing industry
• When consumers change their behavior they
start to use new products and services. Once a
market becomes big enough, it’s easy to
uncover underserved niches in that space.
• Opportunities: In-home health and wellness: TOTAL
at-home sport for kids, short-term rental VIDEO CONF MARKET
equipment programs, local neighborhood co-
ops, etc. Example: Verticalization of
- Once people have e-commerce is saturated, Zoom
there will be room to offer more convenience
Look at the market share of the
(e.g. outsource return handling, bundling of
bigger players, and focus on use
deliveries, etc.) cases they are not covering well.
Claim your slice of that new
growing market,
e.g. Zoom for dating, health, etc.
75

Low Touch Economy
consumer behavior shifts
‣ Shovels & pickaxes for gold diggers
• During a gold rush, the companies that supply
the tools to dig are those that make the most
money. Look at the second-order
consequences of shifts in behavior. You don’t
need to offer a new B2C product yourself – you
could just focus on B2B tools to help those
companies that will help out consumers with
emerging needs.
• Opportunities: Tools/services to help event
Example: Distance Seat planner
businesses set up virtual alternative solutions,
to help tourism organizations launch and scale PlanFinder developed a new tool
and algorithm to help restaurants
marketing campaigns towards local tourists,
and office redesign to maximize
recording and IT services for universities to
the number of seats, while
create remote programs, etc. following strict safety restrictions.
76

4. Societal changes
Low Touch Economy
societal changes
‣ White spaces mainly related to the health domain
• Society doesn’t change overnight (nor in a
couple of weeks). In Europe & US, people are
gradually accepting mouth masks and more
invasive health tracking. However, outside of
this space, we don’t expect a significant shift in
society just yet. But keep a close eye on Example: Bebcare air
potential political aftershocks later this year. purifier
• Opportunity: Consumers will flock to products

The rise of extremism and polarization in and services to protect their
combination with health concerns will help to families - even if they're not
closely linked to Covid-19. From
sell protection services. Safety and security
vitamins and supplements to
products will be on the rise. This includes mobile air purifiers and camper
insurance as people are more anxious. vans for interaction-free travel,
the opportunities are endless.
78

Low Touch Economy
societal changes
‣ Reversed parenting
• People above 60 year old are considered extra
vulnerably. At the same older generations tend
believe and share more misinformation online.
Being less digitally educated is named as one
of the causes. In general, older generation need
Example: Candoo Tech
extra support to with IT services to participate
in a remote-first society. Now more than ever, younger
• Opportunities: generations need better tools
25-45 year olds need tools/services to help to help them support older
generations. Candoo Tech
with supporting older generations (can go
offers tech support for
beyond direct family). Nudging older
seniors. Other startups, like
generations might not be as easy as it sounds. HONOR, are in the perfect
- Many families also want to meet up again in space to pivot in this area as
large groups, so services for weddings, parties, well.
etc. need to be reinvented so people can
protect each other.
79

Low Touch Economy
societal changes
‣ Extensive activity monitoring
• Even beyond health/contact tracing, there will
be a boost for products that play on the current
erosion of trust.
• Opportunities:
- Remote learning (training centers and
universities) will demand more tools to identify
and track students to prevent cheating. Example: SNEEK
- Working from home creates a similar push.
Many employers want to see evidence of
SNEEK takes a snapshot every
working hours, attendance, etc. couple of minutes so that the team
- Overall, consumers want to see more and management know who’s at
transparency in the supply chain. Who's their desk at home. While this is an
interacted with the products they're using? extreme version, many other
Were these employees 'safe'? entrants will arrive in this space for
specific use cases.
80

5 & 6. Access to new resources / new tech
Minimal impact on the
Low Touch Economy
‣ New Tech
• The health crisis and aftershocks haven't fueled
a rapid acceleration of new tech development
(beyond new health tech). So while new tech
can be a trigger to discover white spaces, we
don’t see technology as the main driver for
white spaces in this crisis.
• Of course, the rapid adoption of digital services
in general will continue. But this will be due to a
shift in consumer behavior, not because a new
technology was discovered that opened up
new markets.
‣ Access to new resources/assets
• While locally some companies will benefit from
a reshuffle in supply chains and new business
networks, this shift won't be a key driver for
white spaces.
82

Opportunities overview
Expected impact
Informal video
on the Low Touch Economy Health/wellness communication
Nearshoring at home
Virtual migration Remote court Optimise
services ecommerce
HIGH
Local automated
Remote
warehouses Private remote Rental equipment
Dark stores health tracking
diagnostic tools at home
Personal security
Local distributed B2B admin tools services
6 triggers for white spaces
MEDIUM businesses sensitive data B2B tools
Office Elderly
scaling services IT support
redesigns
Industry shift Digital venture New niche Available
Authentication New health
partnerships insurances workforce
services tech
New regulation Remote activity
Risk profile Supply chain monitoring
New consumer behavior calculators transparency Data
Local tourism modeling
Societal change partnerships
Alternative family
gatherings Surveillance
LOW
New resources/assets Mergers for tools

new scale
New technology
Examples of white spaces & opportunities, triggered by different shifts

More shifts & ripple effects?
Collaborate on our public mindmap

access via lowtoucheconomy.com
84
lowtoucheconomy.com
Match shifts with industries to spot white spaces (examples)
MEDIA REAL ESTATE CONSTRUCTION AUTOMOTIVE HOSPITALITY
EXAMPLE SHIFTS NEUTRAL IMPACT LIMITED IMPACT LIMITED IMPACT SEVERELY IMPACTED SEVERELY IMPACTED
Customer segregation/ Video/digital support for New incentives & regulation

Employee segregation: The same clients always Restricted test drives,
vulnerable groups to for migrant workers to allow Hire older generations as
Vulnerable groups are gets assigned to the same vehicles exclusive for
participate in social them to travel, but to staff to serve only older
separated from other groups. agent to avoid mixing certain customers.
activities via virtual remain isolated from other customers.
groups. (partial virtual simulation)
platforms. people.
Value-added crowd 3D scanning service for Shared/ public buildings Restaurants spread out to
control: Make it more Increase pay for generalist Tracking services to create
retail to scan their products renovated to accommodate nearby unique buildings
attractive for clients to contractors, so the same cool-down times between
so a significant part of waypoints or pathways to (experience!) in the area so
participate in the economy in group of people can do the usage of shared
regular customer journey steer the flow of visitors in people can eat with enough
smaller groups. different tasks. vehicles.
can start remote.. order to avoid each other. space between them.
Human-free service More on-site automated Digital tools to support

models: Employees who Increase of 1 man deliveries between More prefab and simplified remote inspections to avoid Robo-kitchens with self-
have close contacts with production crew, supported industrial/ office buildings. - construction options to limit that clients need to visit service restaurant
each other or clients are a remotely. new upgrades needed: human interaction on site. garages & distribution experience
liability and must be avoided gates, lanes, charging spot centers.
Hygiene theatre: Excessive

cleaning processes, with a Live video feeds of crowds Rugged gowns, masks and
Mobile disinfecting units on Bring your own plates/
special focus on the broadcasted to alert people Highly visible airco add-ons gloves that are designed to
parkings to quickly clean utensils/ eatlery to
communication/signaling when physical distancing is to disinfect air flows. be used on construction
vehicles, ebikes,... after use restaurants to avoid sharing
effects. not respected. sites.

We can help you spot and act on
white space opportunities
tu re
fu
We monitor the new normal and map out
your organization’s possible futures.
d ay
to
We spot +50 white space opportunities
for you to act on in the Low Touch Economy
We validate and launch new products and

businesses at startup speed.
Discuss full program

vincent@boardofinnovation.com
Moving ahead requires an iterative approach
We suggest running 3 activities in parallel and iteratively, to act at speed in a fast-moving environment.
MAY JUNE JULY
MONITOR
1 NEW NORMAL
IDENTIFY
2 OPPORTUNITIES
VALIDATE
3 & LAUNCH
87

Chapters




5. The future of X
10 expert views
‣ Pooja Bethi Mobility consultant at Frost & Sullivan

‣ We love receiving alternative perspectives
‣ Kim MacGillavry Strategy Director at UPS Europe To get an additional outside view on the Low
Touch Economy, we asked a couple of experts
‣ Sangeet Paul Choudary Author of Platform Revolution to share their thoughts on what’s happening in
their domain. Use the following contributions
‣ Olivier Desbiey AXA Head of Foresight as an extra source of inspiration to redesign
your strategy.
‣ Sajal Singh UN innovation expert
‣ We share all our articles and reports on

‣ Jens Edler Digital Transformation Manager at WAGO
boardofinnovation.com/blog. If you have
‣ Steve Glaveski your own publication or platform and want to
Co-founder of Collective Campus
collaborate on an additional Low Touch
‣ Rawad Choubassi Technical Director at Systematica
Economy article, please let us know.
‣ Miguel Corais Director of Internationalization at CH Consulting
89

Low Touch Mobility Creating trust through health, try partnering with wearables
wellness, & digitalization makers (e.g. Ford) to create an
Another avenue of opportunity for ecosystem of connected devices for
Although the pandemic upended
OEM’s and suppliers – health and a wellness-centric experience.
the economy, it will push mobility
wellness. Geely is introducing N95-
players to redesign transportation
certified air filters and JLR is adding Shared mobility: Playing for the
through increased tech integration.
UV sanitizing units to HVAC systems. long game
In addition to offering them on new The biggest losses are for MSP’s due
The end of personal cars?
models, making these solutions to strict adherence of social
Many cities are contemplating available as an aftermarket add on distancing. While current MSP’s are
closing their streets off for personal for existing models could boost diversifying into delivery of goods
vehicles. A personal car sits idle for revenue. and services, some are introducing
80% of the time and the new normal
in-cabin separations and the
EXPERT CONTRIBUTION trend of working from homes and
Tesla’s digital experience centers provision of sanitizers and hand
digital fitness will increase this. But
Pooja Bethi instead of typical dealership model wipes.
consumers would prefer personal
served as a winning strategy during
#RETAIL #FMCG #ANALYTICS vehicles due to hygiene factors. The
the pandemic. Retail will witness
#MARKETPLACE opportunity for OEM’s would be to On the longer term, innovation in
adoption of AR/VR for a completely
Pooja works as a mobility create value with connected, electric materials will drive adoption of
online purchase journey and can
consultant at Frost & Sullivan, vehicles. A V2G solar car that could shared services over personal
extend the tech to simple DIY
contributing to research and power a home, to in-car hyper local vehicles. Geely is developing anti-
consulting projects within the CASE services.
retail apps could be key bacterial surfaces and Ford's CEO
ecosystem. She is passionate about
differentiators. Also, OEM’s could mentioned the need for self-
exploring opportunities, white
Although delays in 5G infrastructure cleaning materials. This, along with
spaces, designing business models offer a multimodal solution (e.g.
and solving complex business could stall next-gen connected and voice and gesture controlled
Audi) - electric car with a bicycle/
problems. autonomous vehicles, OEM’s can systems, could radically redesign
e-scooter?
the cockpit of future cars.
LinkedIn profile
90
not venture out to brick-and-mortar New technologies may enable more
The lasting impact on
stores to buy goods, e-commerce has contactless deliveries in the future.
logistics made it possible to get everything Fully autonomous drones, whether
they need and allowed shops to flying or driving, are of limited
The logistics industry continues to remain in business. All this made significance for now. Besides
deal with the effects of the lockdown possible thanks to the efforts of restrictive legislation, it remains
measures that are in place to stem the parcel delivery companies to adapt to difficult to scale up drones to manage
spread of Covid19. At some point, the situation and to continue the quantity of parcels that need to
these confinements will be eased and providing their services throughout be processed. The crisis has not
life can slowly resume, no longer the crisis. To maintain a safe social changed the basic economics of
restricted by public health concerns. distance, contact-less delivery these innovations. There are some
However, people may behave processes were introduced. This applications where drone logistics is
differently than they did before the means there is no need to sign for useful today (e.g. rural area drug
crisis. Certain attitudes and habits receipt on a device and parcels are deliveries), but for now it is unlikely
EXPERT CONTRIBUTION
may have changed which may have a not handed over personally, but left at they will change the dominant
Kim MacGillavry significant and lasting impact on the door or in a safe place. delivery business model. There are
logistics, especially for parcel delivery Consumers across the world have other alternatives to delivering
#LOGISTICS #ECOMMERCE companies who have a lot of shown an enormous respect for the parcels already today that might
Kim has extensive experience interaction with the general public. efforts companies like UPS have become more acceptable coming out
leading transformation and Consumers still want their shipments made and fully embraced these new of the crisis. Parcel lockers and drop-
innovation projects in a variety of delivered to their homes. They delivery methods. It is too early to tell off and collection locations are good
multinational companies. He has generally don’t want their shipments whether these new policies will last examples of existing delivery
worked in logistics for 20 years in once the crisis has subsided. It would channels that consumers can use to
dropped off at their doorstop and left
different roles ranging from parcel
unattended, and for legal reasons be a good thing for the consumers, facilitate the delivery of their parcels
up to road freight services. His
sellers are not keen on it either. In sellers and parcel delivery companies as they continue to buy more online
current role is Strategy Director at
UPS Europe. practice this means that drivers have alike. than they did before.
to make multiple delivery attempts
before a successful delivery. Not only
LinkedIn profile a costly process, but not valued by
consumers either. Attitudes may be
changing though. While people could 91
Post-pandemic platforms theaters. As movie theaters remain and Deliveroo and located in lower
shutdown for an extended period, rent neighborhoods and closer to
movie studios have started launching delivery destinations, will aggregate
Even as most companies struggle to movies via direct to streaming food preparation. These platforms
cope with the realities of a post- channels, bringing into question a leverage their market-wide demand
pandemic world, the BigTech firms - long-held industry norm of the launch data to better source and prepare
Amazon, Google, Microsoft, Apple, “window” during which theaters had food as well as better manage
Facebook - have performed exclusive access to movie releases. delivery logistics. We are in the midst
exceptionally well. Relatively smaller This fundamentally shifts bargaining of a massive shift in industry
firms like Netflix and Shopify have power away from theaters to online structures and power. As above, firms
also generated significant platforms. The combination of that aggregate demand and attract
shareholder value. Most of these firms demand migration and a shift in and consolidate supply, will be best
are platform firms, which aggregate bargaining power will likely create a positioned to exploit these massive
demand and supply across their value permanent shift in power towards shifts towards new business
EXPERT CONTRIBUTION network. And therein lies their ability Amazon and Netflix. opportunities.
to succeed in a crisis. As we emerge
Sangeet Paul Choudary Consider another example. Shutdown
into a post-pandemic world, we are restaurants are struggling to stay Re-imagine the value network for
#PLATFORMS already beginning to see the first afloat while delivery services are your business and ask yourself:
#NEWBUSINESSMODELS signs of massive value migration. growing rapidly. One might argue - How can you leverage a shift in
Sangeet is the author of Platform again that this will return to normal demand to attract consumer
Revolution and Platform Scale and Consider the rise in demand for post-lockdown. Except that it won’t. engagement and data?
a C-level advisor to 35+ Fortune 500 online streaming services like Netflix
firms. A WEF Young Global Leader, - How can you leverage this to
and Amazon Prime. One might argue
he serves on multiple boards and As restaurants go bankrupt, the need negotiate and consolidate the supply
ministerial committees. His work has
that things will return to normal.
for establishing kitchens in high-rent in your value network in your favor?
been selected thrice by HBR among Except that they won’t. restaurant locations will be Platforms that capitalize on these
their Top 10 Must Reads
questioned. As delivery and drive-ins current shifts will emerge as the
compilations.
For one, this rise in streaming is replace restaurants, dark kitchens, run dominant businesses in the
coupled with a shutdown of movie by delivery platforms like Uber post-pandemic world.
LinkedIn profile
Platformthinkinglabs.com 92
outbreak. It is designed to rise to the people’s mental health particularly
Telemedicine features
challenge of a sudden escalation in those who are already fragile and
emerge as a resilient demand. First, by allowing patients to suffering from isolation. Should
avoid saturating health facilities for an minimizing human contact continue
crisis management tool initial diagnosis, and second by to be prescribed, this could generate
contributing to the reduction of a new social anxiety. As mental health
Every major crisis causes a reshuffling contaminating risks for healthcare support is already one of the next
of the cards. In the health sector, one workers and patients, especially those decade’s leading health challenges,
the biggest changes we are most vulnerable. By pushing usage of such anxiety would without a doubt
observing in the patient-doctor telemedicine, the Covid crisis is likely exacerbate this need.
relationship is the massive adoption to make remote consultations a trend
of telemedicine. likely to continue in the future. Key Takeaways
Telemedicine contributes to
From coordinating care delivery to
Anticipating social distancing anxiety massively familiarizing patients and
EXPERT CONTRIBUTION consulting remotely or monitoring
Telemedicine is also benefiting from doctors with a bigger digital health
patients, digital health ecosystems are
Olivier Desbiey already in place in Europe, the U.S.
reactive regulatory support in many ecosystem
countries with lower out-of-pocket Telehealth regulations are quickly
#HEALTH #TELEMEDICINE and Asia. While certain players have
#MENTALHEALTH expenses for patients, and more adapting to accompany this trend
made their telemedicine services free
flexibility for doctors in the tools they Telemedicine is an appropriate
Olivier is economist by training for doctors, AXA Belgium has opened
use to consult remotely. response to the Covid-19
graduated from Panthéon-Sorbonne its online consultation service for free
University and explorer at the to Belgian citizens during the crisis. specificities both in its treatment
intersections of technology and Usage is reaching an unprecedented According to the Imperial College methods as well in serving to
public policy by passion. As AXA level with teleconsultations rising Covid-19 Response Team social control the associated risks of the
Head of Foresight, he scouts the distancing measures could last for up epidemic – in particular
from 3,000 a month in 2019 to 6,000
horizon of emerging trends and
a day during the crisis in France. to 18 months. It could weigh on reassuring those susceptible to
weak signals to make sure that the
Group is equipped to anticipate & mental health issues.
innovate. Telemedicine has all the features to
LinkedIn profile enable an effective response to
situations such as the Covid-19
93
Peel-Works connects The Unilever-backed company helps Key Takeaways
modernize and digitize these small Companies with physical supply
India’s 12 million mom- shops through a marketplace chain distribution have so far
and-pop shops to the ‘Taikee’ which enables them to provided a competitive
discover new brands and order advantage. But with industry
Low Touch Economy them from wholesalers or direct. It is margin profiles at 3-5% globally
live in more than 16 cities with and a prolonged consumption
In India, retail is organized and 20,000 retailers and continues to decline, building models around
unorganized. The unorganized retail improve sales, basket-fill and users, using innovation can help
consists of a powerful network of 12 profitability. Such is its impact that build new models of distribution
million family-run mom-and-pop until March 2020, it has raised $5.86 like the one Peel-Works presents
shops that operate across million for its series C funding.
neighborhoods in India, acting as a
Applying technology to help
EXPERT CONTRIBUTION key distribution point for FMCG CEO Sachin Chhabra says that close
make invisible supply visible can
players. At the same time, India fuels to 70% of Peel-Works’ partner stores
Sajal Singh become an essential feature
much of its growth on middle-class use its services to order every
#RETAIL #FMCG #ANALYTICS consumption. These shops are small post pandemic for distribution
month and the company is looking
#MARKETPLACE and important but not dependent companies
to hit close to $1 billion GMV run
technologically modern enough. rate by the end of the 2020 financial
Digital advisor with more than 12
Shifting perspective from supply
years of experience across 3 year.
markets and 8 sectors of shaping With India being under lockdown chain to supply-chain
digital strategy for CXOs. Also a for more than a month, the participants can reveal
Forbes contributor and a global interesting opportunities that
livelihoods of these shops are at
innovation expert with the UN, he
stake. Margins on FMCG goods are can help build new digital
serves on the board of IE Business
School’s MBA programs in Spain. thin and with muted consumption business models
their survival depends on the ability
to use tech to their advantage – an
LinkedIn profile opportunity B2B SaaS startup Peel-
Profile on Forbes Works spotted early. 94
The death of the B2B In my opinion, this hope is flawed: buying higher tiers products and
Even though some restrictions are solutions. This is where you can
sales as we know it. loosened right now, they will be create value, because commodity
tightened again if the spread of sales are already gone to e-
The good news first: B2B sales will COVID-19 accelerates again. No commerce.
most likely not be affected by the normal will be the new normal for
imminent crisis of consumerism. B2B sales and you have to be How do you do this? Embrace
Your customers won’t be asking prepared for this. innovation.
themselves, "Do I really need this?“ Embrace trying new ways of getting
because your products are already Yes, there will be trade fairs in the in touch with your customers. Why
creating value for them. The bad future and you will get the not do a Digital Fair using twitch.tv?
news: Doing B2B sales in a Low opportunity meet with your Give online chat a try. The german
Touch Economy will be dramatically customers again but this might take eCommerce company Spryker
EXPERT CONTRIBUTION
different to pre-COVID-19. a while. Until then you will have to refocused its marketing and sales
Jens Edler invest more time in a single plans for 2020, due to the
B2B sales heavily relied on direct customer in order to stay realization that there won’t be any
#SALES #TRUST customer contact. Be it at fairs, connected. It simply takes much big tech fairs in 2020. Now they are
customer visits or at wholesalers. more effort to create the same level doing a lot of Webinars that get a
Digital Transformation Manager at of trust and understanding without
This is not possible today due to the lot of attention because they are
WAGO Kontakttechnik with an IT and
User Experience Design background. He recent lockdown and social being able to get together sharing insights, educating people
loves to work at the intersection of distancing measures. Your physically. It’s much harder to create while also promoting their products.
company culture, change and salespeople are most likely stuck at the necessary emotional bonds. So
innovation. Always connecting on a you will have to spend your time
their (home) offices wondering how Or write an old-school postcard or
human level. Jens is also a Design Sprint
to do their work. Most of them are wisely. Do not focus on your
Facilitator with a love for value-creating letter to your customer. Experiment,
hoping for a fast way back to customers buying commodity
workshops in general. evaluate and – most importantly –
normal. products. Focus on the customers stick out from your competition.
LinkedIn profile
wago.com 95
COVID-19: Winners, Winning and losing business
models Offer real-time up-sells of band
losers, & new business There are winners and losers, and merchandise (such as branded face-
opportunities it’s the latter where we’ll find trillions masks!).
of dollars of unmet needs because
companies either can’t operate, or Key takeaways
Leaders must first take stock of their
are doing so with a low ceiling on Define the pre-COVID-19
runway and determine if their
capacity. business model, and determine
current business model will help
them weather the COVID-19 storm. which aspect needs reinventing.
But we can turn losers into winners.
The shorter the runway, the more At a minimum, consider:

drastic the action. Business model reinvention ‣ Distribution channel
EXPERT CONTRIBUTION Ask yourself: ‣ Customer segment(s)
Value networks have been How might we satisfy the newly ‣ Revenue model
Steve Glaveski unmet needs customers still have?
disrupted, and assumptions ‣ Cost structure
#NEWBUSINESSMODELS #MUSIC underpinning many business ‣ Marketing channels
models might now be false. Think live music — people still want
Steve Glaveski is CEO and co-founder to see musicians perform live.
of Collective Campus, a corporate
Once you’ve shortlisted some
This is creating ‘new markets’. Zoom How might we satisfy the needs of
innovation and startup accelerator based business models, execute, learn
is unlocking a large new market of concert-goers?
in Melbourne, Australia. He hosts the and adapt, fast.
Future Squared podcast and is the people who previously went without
author of Time Rich: Do Your Best Work, its product. Provide the infrastructure and
Live Your Best Life, and Employee to
marketing for an online, live-
Entrepreneur: How to Earn Your Freedom
and Do Work That Matters. streamed concert.
Don’t charge $200 for a ticket.
LinkedIn profile
Charge $10 instead, but gain a
much larger audience, sans the
costs of touring. 96
Sidewalks at the center that just under half of Milan’s could also manage visitor influx by
sidewalks are virtually unsafe under organizing queues on sidewalk
current social distancing rules. Such space. Wider sidewalks could also
The world of mobility has been
discrepancies have huge impacts on mean better facilitation for
shaken up by an unprecedented
how pedestrians organize in public autonomous deliveries via
event that managed to question
space. path clearing. Mobility devices for
transportation strategies globally. The
less-abled people, which also rely on
mantra of sustainable mobility that
Reclamation is key sensory navigation would also gain
higher user density creates efficiency
It is crucial to understand that from unobstructed flow. Ultimately,
has been overturned by a need for
absolute widths provide only a the broad-scale gains of sidewalk
social distance in all areas of public
foundation for evaluating sidewalk optimization extend beyond existing
life. For public transport, this has
potential. The reality is that our functions and open up avenues for a
meant a paradigm shift, and transit
sidewalks are occupied by various new conceptualization of a long-
EXPERT CONTRIBUTION operators are still scrambling for
elements that often act as barriers for undervalued mobility infrastructure.
innovative approaches to balance
Rawad Choubassi safety and operability. On the side of pedestrian flow. In Milan, illegally
active transport though, the need for parked cars on sidewalks pose Key takeaways
#CITYREDESIGN #SAFETY
#MOBILITY low-touch travel options has only unique challenges to city Reassessing sidewalk space is key
emboldened the promotion effort administrations that require for safe travel
Rawad Choubassi is currently Partner,
Board member and Technical Director with greater motive. coordinated planning solutions. The 45% of sidewalks in Milan are
at Systematica, which he joined in 2008. potential gains from sidewalk unfit for low-touch pedestrian
He leads a multidisciplinary team in reclamation are vast. Aside from movement
(Re)viewing pedestrian space
mobility planning and research projects,
In a mapping exercise led by enhanced pedestrian flow, sidewalk Unlocking pedestrian potential
including Transform Transport,
Systematica’s core research unit focused Systematica that attempts to re- reclamation creates ripple effects on requires sidewalk reclamation
on innovative mobility solutions based envision acceptable standards for various other aspects. Street-level with positive effects on retail and
on 30 years of practical experience.
sidewalk widths, it was revealed shops, for example, not only become mobility tech.
more accessible but
LinkedIn profile
Milan Sidewalks map 97

B2B Event the advanced technologies that Key takeaways
optimize the participation of Virtual Networking in B2B events
Transformation: the exhibitors and visitors. From the use will be very much like the
closest thing to reality of artificial intelligence, predictive gaming that millennials are used
analytics, automation, machine to.
will be gaming learning, identification of profiles Organizers will provide optimal
and anticipation of needs, so that matchmaking solutions
I believe that the impact of the Low matchmaking and networking is There will be mass
Touch Economy will be permanent in achieved effectively. customization:The
international trade, especially in B2B
demonstrations will be simulated
international events. The market
to the reality of each visitor.
needs to keep moving and cannot Mass customization will
wait for the return of face-to-face be the watchword In fact, with the need to replace
EXPERT CONTRIBUTION events. The visitor will quickly (either by what we may call the "physical
Miguel Corais automatic suggestion or easy world" in an event, using both
Not everything will be bad news: identification) select the exhibitors,
The key in B2B events lies in digital and virtual, through all the
#DIGITALSALES #VIRTUALEVENTS products, or technologies that best tools at their disposal, players will
optimizing matchmaking
suit his business. be able to decide with more real
Many may believe in the
Miguel is a consultant specialized in
impossibility of replacing face-to- data than they actually did in the
business internationalization and market Exhibitors will previously know in recent past, still benefiting from the
development, with a passage through face relationships, but we can use
detail the profile of each visitor. It long-lasting networking that they
international trade fairs, banking, and the way millennials relate to each
will be possible to make a demo can establish, maintaining
auditing. He is currently Director of other to realize that many of them
Internationalization at CH Consulting. adapted to the customer's reality, virtually or physically.
use gaming and virtual reality to
using virtual reality simulation
relate in a synchronized way,
technology by evaluating, for
whether 1-to-1 or 1-to-many.
example, the performance of a
LinkedIn profile Let's get used to participating in fairs machine in various scenarios
CH Consulting or virtual events, benefiting from all 98
The Low Touch Economy is here to stay.
Bring your best team together,
the gold rush has started.
Innovate in the core of

your organization
v
Explore adjacent
opportunity areas
Shift to radical new

white-space opportunities

Covid will probably not go away fast,
but opportunities will. We help you
act on new opportunities, at startup
speed. Reach out to move ahead in
the Low Touch Economy.
Philippe De Ridder
CEO/co-founder
philippe@boardofinnovation.com
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

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LOW TOUCH ECONOMY REPORT

The gold rush on

latest updates: lowtoucheconomy.com

Phil & Nick

Very few companies are winning in the

latest updates: lowtoucheconomy.com

Proudly independent for +10y

latest updates: lowtoucheconomy.com

1. What is the Low Touch Economy?

3. Short-term opportunities to grow

4. Long-term opportunities: new white spaces Looking at the future

1. What is the Low Touch Economy?

3. Short-term opportunities to grow

4. Long-term opportunities: new white spaces Looking at the future

The Low Touch Economy is here to stay. It offers

Board of Innovation’s first report on the post-pandemic

The Low Touch Economy has been featured in:

latest updates: lowtoucheconomy.com

latest updates: lowtoucheconomy.com

Employees & consumers only

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Gradual exits from More info: lowtoucheconomy.com

FIRST SHOCK AFTERSHOCK AFTERSHOCK AFTERSHOCK AFTERSHOCK

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Based on Low Touch interaction between

Successful companies in this era will be those that adapt their +

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Jan 1 - May 6 Jan 1 - May 6

Many economic indicators point towards a reasonable

latest updates: lowtoucheconomy.com

latest updates: lowtoucheconomy.com

latest updates: lowtoucheconomy.com

Doesn’t allow: As a result:

Sources: https://www.krisinformation.se/, @pesta, @markkupeltonen 16

latest updates: lowtoucheconomy.com

From these examples, it seems that once Covid-19 has been

Still, certain industries will take a long time to recover. For

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1.5 year impact

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Emirates Airlines Conceptual design by

International safe-travel zones

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Car sharing: Lyft, Uber, etc.

latest updates: lowtoucheconomy.com

Singapore sends SPOT robot Opera visitors in Taiwan need to

Numerous restaurants are Hair salons and other close-

VRT, The Belgian national

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If you spot remarkable innovations, feel

Sunglass face shield by Joe Doucet Knuffelscherm by STAS & FARO

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Rate your readiness level for the Low Touch Economy

‣ Score 1 or 2 at all sections?

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How can you redesign your organization?

‣ Limit public transport ‣ International travel only by exception ‣ No non-essential business

1. What is the Low Touch Economy?

2. Adapting your organization’s strategy

3. Short-term opportunities to grow

4. Long-term opportunities: new white spaces

latest updates: lowtoucheconomy.com