Nowadays, people specifically teenagers spend most of their funds by approaching the latest fashions such as clothes and technology. I disagree with this idea because of the fact that these factors impact their self-confidence.
On the one hand, this generation is obsessed with following fashion and tries its best to dress like others, and if they do not wear trendy clothes, they may feel anxiety and self-harm. In fact, this behavior reflects their ability to provide for them, as their friendship may suffer if they do not follow fashion trends. For example, Samsung and Apple THESE BOTH are the most favorable brands of phones but still, if you have Samsung you consider it cheaper while having an iPhone you are fancier.
Secondly, new trends can affect the economy of other brands, and they can close because of new fashion. Let us discuss how these trends impact them, As a result, it impacts them due to the old-fashioned products that they sell, or because of their traditional staff, so people lose interest in that local brand, which is unfair. Although they try their best to establish their staff people still pay attention to well-known brands. For example, in KSA or all around the world, people find it cheaper to buy from Zara, so they replace it with GUCCI.
To sum up, new trends in clothes and technology, have a huge impact on local brands keeping them cheaper than fancy famous brands, And there is a positive thing about well-known brands it shows you fake friends.