Wolves have made a slow start to their first season back in the second tier of English football, picking up just four points from their opening four games.
"It may need to get worse before it gets better and maybe people need to understand that," Moxey told the Express & Star.
"We have to be realistic about what we can achieve given the scale of change. We have seen that some foreign players take longer to settle compared to their British counterparts, and that is natural.
"I wouldn't say we are relaxed about the situation because we are never relaxed when we lose."
Wolves' next match comes against Leicester City on September 16.