Many businesses and workers are initiating new ways in their jobs to suit the low-touch economy. The industries were forced to rapidly adjust to newly implemented standard operating guidelines which were set due to the global outbreak, COVID-19 pandemic. Further, the public who were dependent on these industries, businesses for daily needs were also prevented to operate normally.
However, technological innovations are the vanguard for finding solutions to this crisis, which helped many sectors to strengthen their core, continuing to achieve goals by operational advancements. Since the end of this pandemic is not near businesses need to continue operations with limited contact and social distance.
Low-touch economy- businesses to succeed even in this pandemic, the low-touch economy is the way where every business across the globe is compelled to continue their operations. The attributes that define the need for a low-touch economy:
- Very critical one is to mitigate risks concerned with health, because of which businesses are forced to follow stringent rules, low-touch interactivities, travel restrictions, limited gathering.
- Collective tremors in markets globally happening is evident. Which altered consumer perceptions, behaviour, disrupting the supply chain, etc.
- Experts presumed to impact directly the economy of the world.
- Who can survive in completion is the businesses whose business model is flexible and adapts to the new normal and considering safety as a priority.
A low-touch economy led to technological innovations like
- Green says go! Traffic lights are being used in stores or places where space is limited to handle the customer flow. Technology allows the store owners to control the signal timing depending on the number of customers visited, as innovation has helped in detecting the customer count who is inside for shopping at a particular time. Ensuring social distancing and overcrowding are being combated. Red and green lights are used at the entrance to help customers to know whether the store is too full or can shop immediately.
- Book a slot unlikeretailers where there can be a continuous flow of customers, hospitality venues can host customers on a slot basis, limiting crowd and maintain social distancing is achieved by limiting customers in each slot. In case of unavailability of the table, customers need to book in the next available slots. Slots can be booked over the in-house app or a call.
- Also hospitality industries can offer Food at your doorstep
A low-touch economy would keep on developing as we fight the worst pandemic and ensuing restrictions. While the antagonistic conditions have been hard for businesses, the advancements it has delivered will presumably help them later on.