In the modern world where the number of businesses is continuously increasing, and where advertisement plays a major role in corporations, most of them promote their products as being new. This event occurs for numerous reasons. From my point of view, this is not necessarily a positive development.
Business enterprises are advertising their goods to seem newly innovated or improved models of old products for many reasons. First and foremost, it is common sense that people are more likely to be interested in investing in a new product that they do not already have. Therefore, companies can attract a greater number of consumers and thus increase their sales or even increase their profit margin. Additionally, they may not actually spend a great deal of money on research and development and just change some factors of an old product, but with a persuasive advert, they can trick consumers and gain more net profit with lower expenses. For instance, apple, almost yearly, comes out with a new model of an iPhone, while they just change one or two features from an old model, but people still get trucked to purchases every new model.
Personally, I believe that this is a positive development for businesses, but a negative on for society, conversely. To begin with, as already mentioned, companies are able to gain massive amounts of profit, with lower expenses and thus increasing their capital. Therefore they have higher budgets to spend on other factors, such as expansion and employe incentives. On the other hand, however, this development definitely contributes to increased capitalism, since individuals get tricked into buying goods they do not actually need, just because they believe its new and something they do not own.
In conclusion, opinions are diverse regarding this recent development, since it obviously benefits companies who gain more money, but at the same time increases the expenses pf daily consumers who are gullible.