"Liquid Health" and business models - the dynamic fusion of digital and physical concepts, devices & channels
As lockdown shifts to downturn, we have seen how many companies have adapted to new low-touch, socially-distant norms. Cafes and restaurants have developed thriving street-food and delivery businesses, cinemas and theatres have become drive-in experiences, students study online together, contactless payment has finally replaced cash.
In sport, Norway created the “Impossible Games” with athletes from Europe and Africa competing synchronously by video-link in different locations. In business, Apple hosted its annual developer conference (WWDC20) virtually, with impressive online keynotes, animations and interactions, shared by more people than ever. London Fashion Week did likewise.
Fundamentally, we are seeing a rapid shift to what I call “liquid” business models.
In chemistry, you will remember, a “liquid” state exists between a solid and a gas – between a structured and unstructured state. In the business world, between a physical and digital world.
“Liquid” means that we can fuse together the best of physical and digital formats, devices and channels, and also give consumers much more choice in how it is constructed. Liquid businesses are more accessible and agile, responsive and personal.
These “liquid” attributes permeate both the inside and outside of business – shaping the new ways in which we work – how we communicate, collaborate and learn – and the new ways in which we compete – sell, create, manufacture, and support customers.
“Liquid” is a much better word than hybrid, or multi/omni-channel, or physigital, as I’ve even heard the combination of digital and physical called. (Plus, I haven’t heard “liquid” applied to business, or business models, before, so I’m claiming it right here!)
The pandemic has seen rapid adoption of new technologies, and more significantly a shift to “digital me” with elevated Maslow-style human needs of belonging and connectedness. New formats emerge, responding to the new consumer, fusing the best of digital and physical:
Liquid Health… the fluid combination of digital technologies like Babylon Health and Good Doctor, providing smartphone consultations, AI-enabled diagnostics, robotic surgery, together with empathetic care.
Liquid Work… the fluid combination of more distributed yet collaborative working from anywhere, more flexible jobs and employment, more diverse and talented teams, creative people augmented by tech.
Liquid Production… the fluid combination of made remotely and on demand, embracing 3D printing to print what we like as we need it, the shift from fragile slow supply chains to dynamic personal ecosystems.
Liquid Retail… the fluid combination of digital consumers, with physical delivery – dark kitchens of Deliveroo delivering restaurant meals to our home, luxury brands selling direct, from Tiffany & Co. diamonds to Amazon’s Common Threads.
Liquid Mobility … the fluid combination of...