Please help me to review my essays _ Ielts Writing Task 1

More and more people want to own famous brand name cars, clothes and other items. What are the reasons for this? Is this a negative or positive trend?

People recently often spend much money on purchasing some luxuries. Several factors may contribute to this tendency and I would argue that their appetites for owning lavish items also have certain drawbacks.

There are some reasons why many individuals have a strong desire to possess branded goods. Firstly, due to the purpose of acquiring prestige and getting premier social positions, people usually want to demonstrate their wealthy life to others surrounding them. For example, several celebrities usually wear certain exorbitant costumes when they attend events in order to add a touch of glamour to themselves as well as hold magnetic attraction of their fans. This might help them to achieve more success in the life. Secondly, because of the high qualities of products and better customer services provided by these big manufacturers, people could enjoy using this kind of items for many years without paying money for repairs. These benefits may allow them to have a sense of satisfaction for shopping. If consumers choose commodities produced from unknown brands, they can not be offered the extended warranties of products

I believe that this trend might have some adverse impacts on both individuals and society. First, people tend to pay a great amount of money for these products with famous brands, which could lead to a lack of personal budgets for other basic necessities such as shelter, bill and food. For example, in 2017, despite of the prohibitive cost of an Iphone X, there were many people who decided to take a loan for buying this items, rather than continued using their old phones which was still functional. As a result, they might easily encounter several financial issues. In addition, since most consumers are less likely to buy the goods of small firms, which could reduce dramatically the sales and profits of these companies . Consequently, the owners can have to close their business. This might cause a shortage of job opportunities for them and employees.

In conclusion, the rising number of consumers who opted to buy these branded items may be resulted from some factors and I believe that this tendency can have some disadvantages.