Change Quote by Howard Lutnick
“In 1997, clients balked at self-ordering. They thought it was beneath them. But in 1998, a sea change in perception came, thanks to the rise of the Net and online trading. The concept of doing it yourself was not crazy.”
About This Quote
Source Article: Wall Street Journal, 1999, “The Rise of Online Trading”
Clients initially resisted self-service because they felt it lowered status, but internet growth shifted attitudes, making DIY trading acceptable.
In simple terms: People feared self-ordering, but the internet changed that view.
Key Takeaway
Embrace technology as it can reshape expectations.
Themes
innovation
technology adoption
consumer behavior
Mood
optimistic
analytical
Type
business
historical
When to use this quote
- financial services
- e‑commerce
- retail banking
- investment platforms
Key Concepts
digital transformation
self-service
network effects
Questions to Reflect On
- How can firms ease the transition to self‑service?
- What factors most quickly change consumer perceptions?
A Different Perspective
Resistance may persist where personal interaction is valued.
