More and more people want to buy famous brands of clothes, car and other items. Why is it? Do you think it is a positive or negative development?

There has been a growing trend toward purchasing garments, vehicles, and accessories from expensive brand names. The principle reason behind

this

tendency is people’s belief of luxurious possessions enhance their external outlook and

status

.

This

essay opines that

this

movement could bring both negative and positive consequences in equal measures.

To begin

with, the tendency of using products from popular labels, mostly stems from people’s belief on personal possessions reflecting wealth, social

status

, and appearance. More specifically, many people, especially successful millennials, associate cloths and accessories from well-known brand names

such

as Nike or Adidas with high quality, durability, and fashionable design.

Therefore

, these items are more suitable for enhancing people’s appearance than inexpensive products coming from a flea market.

In addition

, some types of goods like cars from luxurious brands are usually sold at exorbitant prices because of their expensive materials or unique features.

Hence

, these items are often considered as a tool for the affluent to show off their social

status

or wealth.

On the other hand

, in my personal perspective, more people purchasing commodities from well-known labels can bring both merits and detrimental effects to the business world. Countries where well-known trade name producers are based are more likely to have a strong and healthy economy.

For instance

, the US – the home country of many large brands,

such

as Apple and Microsoft, has been the strongest economic superpower since the late 20th century, partly since the products of these enterprises are favoured not only in domestic but

also

in foreign markets.

However

, the rise of dominant brand names can be a factor leading to monopoly as large companies will attempt to dominate and

finally

wipe out smaller rivals to maintain their positions. In conclusion, the tendency of consuming goods from famous brands largely comes from people’s perception of personal belongings showing their wealth, social

status

and appearance.

This

trend can bring both positive and harmful effects to the business market and,

therefore

, should be well-managed by the government to prevent large-scale monopoly.