Many high street shop have gone out of business in recent year . Why do you think this has happened ? is it a positive or negative development?

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 market

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mass-market

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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

example

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example,

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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

allure

Verb problem

lure

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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

cashflow

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cash flow

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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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apply

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or technology. With

such

resources, new schools could be constructed,

revolutionary

Correct word choice

and revolutionary

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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

bring

Correct subject-verb agreement

brings

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the same value as its

10-dollars

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10-dollar

counterpart, a 1-million study of

COVID-19

Correct article usage

the COVID-19

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vaccine should be of greater importance to the entire humanity. In conclusion, the destruction of high street shops

are

Correct subject-verb agreement

is

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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.