More and more people want to by clothes,cars and other products from well-known brands. What are the reasons? Do you think it is a positive or negative development?

Globalization has created a massive impact on the people, as they are keen on buying niche international brands. The majority of them believe that it would bring the self-esteem and confidence. In my opinion, it has manifold disadvantages as people would engage in competition and

thus

become envious.

First

and foremost, people who have fancy for expensive products, and they often show their material possessions and riches to others. They believe that buying costly items would elevate their status in society, and

thus

make them outshine in their social network. To illustrate, most of the youngsters feel that by purchasing hefty brands, they could impress their peers, as they think, social prestige is attached to big branded cars and clothes.

Therefore

, eventually, they put themselves in debt to showcase their wealth.

Nonetheless

, it has a downside too, as people waste their hard-earned money on buying lofty products.

Moreover

, people could not budget their money for the future, as they keep on flaunting their material things. Having not able to afford branded items sometimes, youngsters tend to develop depression, indulge in unacceptable behaviour and

also

put pressure on their parents to meet their demands.

For instance

, it has

also

been seen that when people could not buy foreign products, they tend to steal them.

Thus

, it can lead to petty crime and rivalry among the people. In conclusion, though people find happiness in buying top notch items, it can lead to serious psychological problems.

Therefore

, I believe that people should not be extravagant rather they should spend their money wisely.