Author(s): Shalini Kakkar and Dr. Pradnya V. Chitrao
Innovations play a key role in changing business environment which is reflected by consumers purchasing habits leading to improvement in standard of living. In this era of globalization where firms are using advanced technology tools to gain competitive edge to survive, innovation is the only approach that can help to meet the changing consumer needs. Business firm are spending huge amount in research and development but they fall flat once consumers show unacceptance to innovations. The purpose of this research is to explore the consumers resistance to innovation. Successful innovation is a factor based on failure of consumers acceptance to innovation. Resistance to innovation requires extensive research on consumer habits and behaviour leading to boycotting the innovation. The paper describes the complexity of barriers for innovation adoption and the study is based on ornamental gold jewellery. Gold is a valuable asset which has its importance in terms of holding it in the form of jewellery or investment. Indian perceptions have rich tradition where ornamental god jewellery has religious or social significance. Most of them still adopt primitive ways of buying it but with modernisation and globalization new innovations are adopted to increase the reach. The paper explores an empirical research on barriers affecting the adoption of innovation in purchasing ornamental gold jewellery. The research framework includes barriers to adoption of resistance as traditional, usage, value, risk and image towards demographics of sample. Nonparametric testing is used for testing and proving the hypothesised factors. Our study evidence proves that the demographics effect is significant on various types of barriers.