Culture After Covid: Diversification

Edge Definition

“Pivot or die” is less of a strategy and more of an ultimatum. Brands are eking out a new lease on life by diversifying their offerings into entirely new industry sectors. We coin it “Commercial Darwinism.”

What will Diversification look like post-pandemic?

Innovation lost its way.

Unnecessary upgrades kept us buying more, more often. And start-ups dazzled us with shiny new solutions to problems we never had in the first place.

But COVID-19 stopped us in our tracks, forcing us to live with less and reconsider what we deem “essential.”

A global crisis made it clear that most businesses aren’t pandemic-proof (let alone digital and remote-work ready). Future-focused innovation quickly pivoted to solve today’s real-world problems. And we were starkly reminded that necessity truly is the mother of invention.

The next wave of Diversification will be about becoming essential. Brands will look to fulfill societal needs rather than invent new desires. Upgrades will go from several and often, to fewer and more meaningful. And sustainability will drive design, ensuring products can be upcycled and repurposed for a better future.

The expected outcome of innovation will change. The focus will be on immediate and short-term goals.
— Luke Eid, Global Chief Innovation Officer for TBWA\Worldwide

What if…

01\ Competitors came together to tackle their industry’s most immediate challenge?

02\ Ethics replaced financial growth as the new innovation KPI?

03\ Innovation trade shows featured products that were considered essential?

04\ Luxury brands developed a utilitarian product line?

05\ Products were developed with a second and third life in mind? Making upcycling the norm.

06\ Product lines simplified? Marking the end of add-ons.

07\ Upgrades focused on making products more sustainable, rather than more hi-tech?