In recent years, many small local shops have closed because customers travel to large shopping centres or malls to do their shopping. Is this a positive or a negative development ?
As the global consumer market increases at a rapid pace due to factors
such
as globalisation and capitalisation, consumers want to buy all their desired products at one location and this
led to the birth of large shopping centres. Shopping centres are usually large buildings filled with various shops, from which customers can choose from. However
, in recent years a large number of local shops have been out of business because of these chains. I believe this
is a negative development for two different reasons. This
essay will discuss the topic in detail.
Firstly
, when local stores
go out of work, many of the people living in the area will be unemployed. When these individuals go out of work, it might be an arduous task for them to make a living again and support their families. A survey conducted by the Wall Street Journal in 2019 has stated that when domestic stores
get shut down due to lack of funds more than 61% of the working staff there are unable to find a job again. Furthermore
, most of these workers are of old age and will not possess the desirable skills employers are looking for nowadays. In summary, when local stores
run out of business, their workers will find it hard to find another job and will remain unemployed.
Secondly
, domestic shops often sell their goods for a cheaper price. When they get closed down, customers will find it challenging to buy them for cheap. For instance
, since stores
located in malls have to pay rent to stay there they will often increase their prices to accommodate the rental price for space. In addition
, people on a rigid budget will find it tougher to adapt to these circumstances. Thus
, it is apparent that local stores
offer their goods for a lesser cost and their demise will affect the buyer greatly.
In a nutshell, the shutting down of local stores
will affect the public greatly as a lot of people will be unemployed and the cost of goods will increase. Therefore
, it is clear that the idea of local stores
closing will be a negative development.Submitted by srikanth923 on
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