Changing consumer mindset in today’s rapidly evolving marketplace can be a challenge. In this discussion, we explore the complexities of getting consumers to adopt new technologies and why some people are hesitant to embrace innovation despite its clear benefits. Our guest dives into the role of smooth execution, digitalization, and the government’s role in driving technological adoption across the market.
Question: So you don’t change the mindset of people, right? You would need millions of dollars for that. In your case, or in your special category, how long do you think it will take? Why aren’t people adapting to this new technology? Why don’t they want to change, even though there are people ready to serve them?
The core of the business—the backbone and unique selling point—depends 90% on execution. People may not want to put in the effort, but they do have the urge and the need for the benefits that companies like ours provide. Why don’t they go for it? It’s often laziness. But if you make the process smooth and easy to navigate, they’ll be more willing to engage. Ten years ago, companies like Paytm and OYO faced a lot of challenges breaking into the market, but today, the landscape has shifted. Digitalization is becoming more prominent, and government initiatives are supporting startups and retailers, further driving this transformation.
Not everyone has adapted, but many people are transitioning daily, and we expect exponential growth ahead. I wouldn’t fully agree with the idea that people are unwilling to change. In reality, they are waiting for the right opportunities, the right offers, and, most importantly, a seamless system that companies like us need to provide to get them on our boat.
