Question 6What was the evolution of the worldwide personal luxury market in 1995-2013?1 pointAfter the financial turmoil of 2009, market growth has been driven by democratization into more accessible categories and price points.European luxury brands accounted for over 70% of the worldwide luxury goods market.The value of the worldwide personal luxury market has started decreasing since 2009.
Question
Question 6What was the evolution of the worldwide personal luxury market in 1995-2013?1 pointAfter the financial turmoil of 2009, market growth has been driven by democratization into more accessible categories and price points.European luxury brands accounted for over 70% of the worldwide luxury goods market.The value of the worldwide personal luxury market has started decreasing since 2009.
Solution
The question asks about the evolution of the worldwide personal luxury market from 1995 to 2013. However, the information provided only mentions the period after 2009.
From the information given, we can infer the following:
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After the financial crisis in 2009, the growth of the luxury market was driven by democratization into more accessible categories and price points. This suggests that luxury brands started to offer products at a wider range of prices, making them more accessible to a broader audience.
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European luxury brands dominated the market, accounting for over 70% of the worldwide luxury goods market. This indicates that European brands were particularly successful during this period.
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The value of the worldwide personal luxury market started to decrease since 2009. This could be due to the financial crisis, which likely led to a decrease in consumer spending.
Without additional information, it's difficult to provide a comprehensive overview of the evolution of the worldwide personal luxury market from 1995 to 2013.
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