It is true that mostly people buying the luxury goods from famous brands is increasing. The probable reasons are that the products are high on quality. In this essay, there could be several reasons for this, and I consider it to be a very positive trend.
As for the first question, there are several reasons why people purchase high priced brand products. The main reason to consider is that the quality of products manufactured by well-known companies is high contrast to generic brands. People can use them for a longer period of time because the material of high quality. Most the general brands have copy or famous brands and as a result, products cannot perform well or break down sooner than the lofty brands. Another compelling reason is people make lavish purchases; it influences their self- esteem. It is widely believed that wealthy people have a tendency to own things to impress people; they want to appear and of higher status.
With regard to the second question, the changes described above should be seen as a positive development. One of the obvious reasons is that buying cost-prohibitive brand products can lead to the homogenization of style. This entirely means that it limits the variety and individual expressions as people around the world purchase the same products. There will be an economic disparity in society.
For all the aforementioned reasons, more people are making purchases of luxury brand products, attending to make use of high-quality goods. Therefore, this development can embrace several negative, such as styles becoming homogeneous.