@slowwalker,
Great article friend. You discuss about the real situation of most of the traditional businesses are facing now. In my country we could experience the same scenario - market dominance by China synthetic shoes. So, people won't spend much but quality drops. It effected on traditional shoe makers and now they are struggling with price matters.
Thank you very much for this great article and you have touched very sensible area. Really appreciate your effort!

Cheers friend!