Nowadays, purchasing items such as cars or clothes from famous brands is becoming increasingly popular among a large number of people. The reasons behind this trend will be outlined in the following essay and, in my opinion, it could bring both positive and negative consequences in equal measure.
To begin with, the tendency of using large brand products mostly stems from people’s beliefs on personal possessions reflecting wealth, social status, and appearance.(1) More specifically, many people associate clothes and accessories from popular brand names such as Nike or Adidas with high quality and fashionable designs. Therefore, these items are more suitable for enhancing people’s appearance than the products from smaller brands. In addition, some types of goods like cars from luxurious brands are usually sold at exorbitant prices because of their expensive materials or unique features.(2) Hence, these items are often considered as a tool for the rich to show off their social status or their wealth.
On the other hand, more people purchasing goods from famous brands can bring both merits and drawbacks to the business world. Countries where famous brands are based are more likely to have a strong and healthy economy. For instance, the US – the home country of many large brands, such as Apple and Microsoft, has been the strongest economic superpower since the late 20th century partly since the products of these enterprises are favored not only in domestic but also in foreign markets.(3) However, the rise of dominant brand names can be a factor leading to monopoly as large companies will attempt to dominate and finally wipe out smaller rivals to maintain their positions.
In conclusion, the tendency of consuming goods from famous brands largely comes from people’s perception of personal belongings showing their wealth, social status and appearance. This trend can bring both positive and harmful effects to the business market and, therefore, should be well-considered by the government to prevent large-scale monopoly.