It is an irrefutable fact that globalization is inclining at a tremendous rate.
As a result
, Local vendors are unable to operate and compete with their bigger counterparts and they are on the verge of collapse.
However
, the collaborative efforts of the government and individuals can overcome
this
issue which will be discussed in the forthcoming paragraphs.
Fundamentally, it entails myriads of reasons.
To begin
with, local shops are small in size and due to ,that they are unable to provide all the variety of eateries and groceries, which a supermarket of nearly ten times more of their size can provide.
Therefore
, people tend to dwell more towards hypermarkets to
purchase
products which lead to the failure of local
markets
. Another pitfall for small
markets
is the effective pricing provided by the supermarkets in order to attract people to
purchase
things from them.
This
is due to the fact that bigger merchants
such
as Big Bazaar, Walmart and Easyday
purchase
goods straight from the manufacturers which aid in decreasing the price of the product. To illustrate
this
case, A product
that is
on sale in a local market for Rs 100, could be bought at Rs 80 in big
markets
.
Moreover
, it sets a monopoly of price in the market which local vendors are unable to challenge.
Nevertheless
, there are several steps that can be taken to curb
this
menace. Chiefly, the government should set up various laws and taxes to the manufactures so that prices of a product should be maintained across the
country
whether if it is sold locally or in a hypermarket; it will have a substantial effect on the local market since people will buy at the same price as they are offered at supermarts.
Furthermore
, local items which are being produced within the
country
itself should only be allowed to be sold in local shops so that the community itself respects their
purchase
, and
thus
in return,
this
will paramount their sales.
For example
,
country
grown pulses and rice are to be purchased from local
markets
only; it will maintain an equilibrium among small and big
markets
and
this
would eventually reap the benefits for a small owner itself.
To conclude, indeed with the increasing trend of industrialization and globalization has some decimal consequences on the local
markets
. It can be overcome by implementing new rules and taxes by the state and promoting
country
made products to be sold only in local
markets
which will certainly assist in their growth.