It is commonly perceived that numerous large companies, particularly tech-savvy ones such as Kodak or Nokia, lack initiative in following new market trends. Researchers frequently cite this characteristic when analyzing market leadership dynamics and posit that this reluctance may lead to them losing their competitive advantages to newer, innovative players.
The notion becomes increasingly stereotypical when applied to traditional and quite conservative industries, such as the art market. The mention of the "art market" typically makes most people's first impressions include onsite auctions, physical paintings displayed before numerous potential buyers, and the presence of an auctioneer wielding a gavel, among many others.
