Game of Consultants

The Ed-Tech industry which gained immense popularity during the COVID-19 pandemic is now on the threshold of failure. From being a supplementary mode of education to a primary one during the pandemic days, the industry is now coming to terms with reality. Well known companies like Unacademy laid off 600 employees and Vedentu another 200. Despite the fact that most of these companies are well funded and have high valuations they have not been able to perform well. They are facing problems of low enrollment rates and numerous complaints from the existing customers. The question this poses is that Ed-Tech’s were simply a necessity during an unusual time in human history and with things back in order, the limitations of virtual learning are finally exposed.
Dive deeper into this article to analyse the trends and the reasons behind the rise and fall of Ed-Tech startups and if they do have a future in the Indian scenario.

Consumers often assume that the latest product iteration is superior, but this isn’t always the case. Businesses frequently use updates, sometimes minor, to renew interest and attract buyers. This “newer is better” assumption can lead to blind consumerism, pushing unnecessary purchases and creating overconsumption trends. Despite occasional disappointment, consumers maintain interest, assuming the next iteration will surpass predecessors. While updates can improve efficiency and satisfaction, misleading updates can exploit consumers’ trust, leading to inferior purchases and unnecessary expenses.

Check out T Himaja Reddy’s article as it navigates through the disruptive world of product updates and their impact on consumer rationality by analysing the example of Apple’s recent launch of iPhone 15.