Businesses continue to revolutionize their production appeals to suit the rapid alteration of customers’ preferences. As a result, numerous of them have displayed the markets with identical retailers and goods as the others in many countries. This essay will delve into the benefits and drawbacks of this trend and consider about its potential advancement in the future.
On the one hand, the proponents of this development assert on the impact towards equality and globalization. Firstly, when products are ubiquitous in different shops, it will provide equal chances for those businesses to improve and eradicate the old-fashioned problems of having large conglomerates overshadowing small ones. As a result, the commercial competition is balanced and would foster egalitarianism in business realm. Secondly, not only do national facilities benefit from this, but a globally idealized market is also navigated. If producers encourage their distributions to conform to global standards, then consumers are able to approach general selection anywhere.
Conversely, opponents regarding the disadvantages of market generalization highlight on the loss of cultures, ideas, and promotion in their businesses, hence affecting the lifestyles of retailers, manufacturers, and customers. Primarily, when resigning themselves to a common set of products, a business voluntarily gives up on innovating their commodities unless all of them are permitted to do so, resulting in an incompetent market where breakthroughs and novel services are hold down. As a result, staff members might reluctantly accept this convention and rely heavily on hard-work to seek promotions, which pressurizes the schedule and leads to unsatisfactory during work to some extent. Moreover, customers will struggle to find products compatible to their ever-evolving preferences since customization is hampered and the variety of products is lost.
In conclusion, despite the contributions to equal opportunities for development and the mitigation of existing issue, without differences between shops or products, the race and proliferation between countries and corporations are diminished. Although shoppers will be in difficulty finding suitable brands that suit their liking when diversity in the market is harnessed, I believe continuing on the above-mentioned trend would create a stagnant economy and repercussions to all stakeholders.