Omnichannel Everything
Events and festivals are also becoming hybrid. This year’s Edinburgh Fringe Festival featured
about 1,000 shows, of which about 600 were live in venues around the city, 100 were available to stream live at
specific times, and 300 were available to stream on-demand. The flexibility allowed audiences to take part
anywhere around the world, and also allowed performers to submit their shows to be part of the platform
remotely. No figures have been made public, but inevitably the box office takings will be down; the festival
normally has more than 3,000 shows.
New Ways to Buy
Commerce has seen great changes, many brought on by lockdowns. Digital has grown its share,
for example, reaching a peak of 40% of all consumers sales in the UK in May 2021. New services and technologies
have emerged to make shopping even more convenient and omnipresent.
Virtual Worlds
Virtual interactions, whether in gaming or on video calls, have become perfectly natural to
many. Gaming is booming in popularity, with more people getting used to the idea of not actually being in the
same space as the people they interact with for hours each week.
Secure Scarcity
Online trading also boomed during the pandemic, and the rise in popularity of
cryptocurrencies has had an unexpected knock-on effect: the rise of the secure asset technology, the NFT. One of
the issues within the digital economy has always been the ease of copying content and assets. Paywalls and
subscriptions have taken off in the past few years, but it is still comparatively easy to copy an article to
send to friends or forward a paid for newsletter. You can argue that part of the appeal of live audio apps like
Clubhouse is the fact that it is not recorded, and not shareable - be there or miss out.
Fans of Flexibility
The pandemic is also having an ongoing impact on working patterns and living arrangements
which has resulted in more flexibility for many people. Technology flattens distances, and the shift to
freelance work has been accelerated. Freelance platform Fiverr was founded in 2010. It took 10 years for its
members to be paid $1bn, but just 14 months to reach $2bn