Globalisation, privatisation and liberalisation has changed the fate of the world economy. Reduction in trade barriers and ease of transport have brought together diverse people with different backgrounds. Naturally, this has affected the consumption behaviour of all individuals.
Buying the same products has allowed people to experience a plethora of cultures from the comfort of their own homes. This has led to a significant improvement in quality. Since it is easy to import products from different nations, customers want the best of everything. Such behavioural choices encourage healthy competition and lead to an increase in spending on research and development amongst multinational companies.
Availability of so many choices from ample geographies has led to the development of a common frame of mindset among the the consumers. Everyone wants to purchase the same items. For example, people all over the world want Scottish whisky, German cars, Japanese toilets - as these are the signature products of their countries.
An increasing similarity in buying patterns is beneficial as it combines people from different societies and thought processes. They are diverse in terms of their origin but united in their materialistic desires. Humans all over the planet can enjoy multiple cuisines together, play different instruments and create music, embrace the fashion and style of clothing from different areas.
However, certain backward tribes and castes are losing their original essence and heritage. Many rituals and languages are being forgotten as people come closer to one another and engage in the same activities. In my opinion, it is important that all traditions grow in tandem with each other while maintaining their sense of individuality.
Globalisation
,
privatisation
and
liberalisation
has
changed
the fate of the world economy. Reduction in trade barriers and
ease
of transport have brought together diverse
people
with
different
backgrounds.
Naturally
, this has
affected
the consumption
behaviour
of all individuals.
Buying the same products has
allowed
people
to experience a plethora of cultures from the comfort of their
own
homes. This has led to a significant improvement in quality. Since it is easy to import products from
different
nations, customers want the best of everything. Such
behavioural
choices encourage healthy competition and lead to an increase in spending on research and development amongst multinational
companies
.
Availability of
so
many
choices from ample geographies has led to the development of a common frame of mindset
among
the the
consumers. Everyone wants to
purchase
the same items.
For example
,
people
all over the world want Scottish
whisky
, German cars, Japanese toilets
-
as these are the signature products of their countries.
An increasing similarity in buying patterns is beneficial as it combines
people
from
different
societies and
thought
processes. They are diverse in terms of their origin
but
united in their materialistic desires. Humans all over the planet can enjoy multiple cuisines together, play
different
instruments and create music, embrace the fashion and style of clothing from
different
areas.
However
, certain backward tribes and castes are losing their original essence and heritage.
Many
rituals and languages are
being forgotten
as
people
come
closer to one another and engage in the same activities. In my opinion, it is
important
that all traditions grow in tandem with each other while maintaining their sense of individuality.