In recent years, purchasing products from well-known brands has become increasingly popular among consumers. This trend is driven by the social media influencer and the desire for social recognition. In my opinion, this is a negative development because it makes people spend their money on unnecessary things.
One of the main reasons behind this trend is the influence of social media and celebrities. Nowadays, people waste their time by scrolling through Instagram which promotes a high lifestyle of many public figures. A lot of them always display their expensive cars, clothes, bags, and many fashion items in their daily life. As a result, their viewers will have the desire to use the same products to imitate their style. For example, teenagers who regularly follow fashion influencers, may feel encouraged to buy branded fashion items to make them look more fashionable.
Despite the popularity of famous brands, I believe this trend has negative rather than positive consequences. Young people often buy fascinating products to impress their friends. For example, they usually beg their parents in order to buy them an iphone, instead of using a regular smartphone. They focused more on the brand, not the function of it, even though there are a lot of alternative products that offer the same function and quality. Consequently, it can encourage materialistic values.
In conclusion, the increasing demand of famous brands is mainly influenced by social media and the desire for social recognition. However, I consider this a negative development because it can promote excessive consumption and financial instability.