With the increasing prevalence of identical stores and products across many different nations, some people identify that this development is beneficial, yet others strongly oppose it due to the problems it may bring about. This essay will propose both upsides and downsides of this statement and explaining why I diametrically gravitate towards the former.
On the one hand, this trend can negatively impact the local businesses and cultures. As the internationally present brands are backed up by conglomerates, possessing a varied range of products, small local shops can easily be overshadowed by the glamorous display in those stores. This would spur consumers to increase their spending level on global inventory, which risks losing our cultural identities and traditions. Additionally, all profits may be patriated by foreign firms, decelerating the monetary flow of the locals. Thereby, the rapid decrease in domestic products will affect the fiscal background of the host region.
On the other hand, there exist a copious number of far-reaching benefits contributing to this tendency. To be precise, since products operate on a global scale offer an extensive resource of superior quality and have general public recognition, their presence increases the competition among the locals, leading to the improvement of localities in what they offer. This lowers the overall prices in stock market, which enhance both target customers’ holistic satisfaction and shopping experience. Furthermore, brands running on a large scope often invest in the local economics. Hence, new stores are mushrooming at a fast pace, resulting in increased employment opportunities for native people. That is to say, all the above-mentioned observations are ostensibly justifiable for locally economic development.
In my opinion, although drawbacks entailing from this similarity throughout various nations are considerable, these are eclipsed by varied advantages such as foreign investments and decreased costs.To optimize the merits, governments should enact policies about cultural preservation by supplying subsidies or tax breaks and take full control over foreign permeation into local markets, ensuring their coexistence with large enterprises.
In conclusion, the worldwide proliferation of homogenous shops possesses its own beneficial and detrimental aspects. Implementations of proactive solutions to minimize the negative sides should be made instantaneously for making full use of the positive one, resulting in an equilibrium between protecting and promoting the locals alongside international brands