Nowadays, throughout the development of trade markets, many people increasingly desire to buy products from common brands, despite the fact that some of them are expensive. I believe that purchasing luxury items often brings more drawbacks than benefits.
The main reason for this trend is that some people are overly obsessed with their personal image, especially for young people. This is because the idea of a lavish lifestyle suggests that obtaining expensive products from well-known brands is a symbol of a higher status. With the desire to be appreciated and be recognized, people are starting to spend a large amount of money to follow this trend. As a result, to enhance their appearance and personal images, people are willing to buy high cost items from popular brand names.
However, I am of the opinion that this development brings more negative impacts than positive. In order to own these luxury products, some people can borrow money or spend almost all of their savings to afford these exorbitant price items. Although some of these things can be unnecessary, they will try to get it due to the popularity of the brand names. Consequently, it can lead to debts and does not have enough savings to handle urgent situations or pay for daily needs. Another impact is that it can affect long term goals such as saving for retirement, investing, or preparing for major life events.
In conclusion, I still believe having an obsession about personal image is the major reason for the habit of spending a huge amount of money to obtain products from common brands. This behaviour can have negative effects on long term goals and sometimes lead to debts.