What is Low Touch Economy in Retail? Explained

The Low Touch Economy characterizes a business environment in the retail industry where contactless and digital interactions are prioritized. This strategic shift minimizes physical touchpoints between customers and products or services. Particularly relevant during times of heightened health and safety concerns, businesses in the low-touch economy embrace technology-driven solutions. This includes touchless payment systems, online ordering, and digital communication channels, enhancing customer experiences while addressing safety considerations. The concept underscores a broader trend toward digital transformation in retail, emphasizing convenience and hygiene to meet evolving consumer expectations and preferences.