It is no longer uncommon to witness that high street stores which used to be an unbeatable contender of the global market are now struggling to maintain their business.
This
essay points out their volatile business model as the major culprit behind their demise,
as well as
asserts that their disappearance is beneficial for the world economy.
Many high street shops face forced closure because the niche market in which they operate does not cater for the majority.
However
, insanely profitable each sold unit is, their total revenues are still fairly limited, compared to their
mass marketAdd a hyphen
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counterparts. Concrete evidence of
this
can be seen in the top 10 most influential companies in the world, inclusive of Walmart- a supermarket chain , but not of any luxury company,
Furthermore
, not only are their total earnings restrictively small, but their costs for marketing,
for
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celebrity endorsement, can occupy a significant portion in their already stretched budgets.
This
combination allows little room for them to research and develop their products, thereby failing to
allureVerb problem
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new customers.
This
reduced prospect
further
exacerbates their already tiny pool of clients, which ultimately leads to many of them encountering predictable bankruptcy.
Their closure,
however
, is indicative of optimism because
cashflowCorrect your spelling
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will now be poured into sectors that provide actual support to the economy. It is universally accepted that prices of luxurious items are not only astronomically inflated, but they
also
add no realistic value to the world. Under a theoretical scenario in which these enterprises all died out, money would
instead
be shifted towards education
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or technology. With
such
resources, new schools could be constructed,
revolutionaryCorrect word choice
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technologies which could save people from incurable diseases could be invented. Compared to a handbag which costs 1 million dollars but
bringCorrect subject-verb agreement
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the same value as its
counterpart, a 1-million study of
COVID-19Correct article usage
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vaccine should be of greater importance to the entire humanity.
In conclusion, the destruction of high street shops
areCorrect subject-verb agreement
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owing to their business model, but
this
is a positive phenomenon. With their demise comes the strong development of socially important sectors
such
as education or technology, which is a solid indicator of a healthy economy.