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Which among the following statements about the luxury clientele is correct?1 pointThe luxury market has more than tripled in twenty years (1995-2013).In 2005-2013 the segment of clients buying in “accessible luxury” grew more than those buying in the segment of “absolute luxury.”All high net worth individuals (HNWIs) are luxury customers.

Question

Which among the following statements about the luxury clientele is correct?1 pointThe luxury market has more than tripled in twenty years (1995-2013).In 2005-2013 the segment of clients buying in “accessible luxury” grew more than those buying in the segment of “absolute luxury.”All high net worth individuals (HNWIs) are luxury customers.

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Solution

Without the context or the source of these statements, it's hard to definitively say which one is correct. However, based on general knowledge:

  1. The luxury market has more than tripled in twenty years (1995-2013): This could be true, as the luxury market has seen significant growth over the past few decades due to the rise of emerging markets and the increase in the number of high net worth individuals.

  2. In 2005-2013 the segment of clients buying in “accessible luxury” grew more than those buying in the segment of “absolute luxury.”: This could also be true. "Accessible luxury" refers to high-end products or services that are more affordable and therefore accessible to a larger number of consumers. The growth in this segment could be due to a variety of factors, including an increase in the number of middle-class consumers who aspire to own luxury goods.

  3. All high net worth individuals (HNWIs) are luxury customers: This is likely not true. While many high net worth individuals do purchase luxury goods, it's not accurate to say that all of them do. People's spending habits vary widely, regardless of their wealth.

So, based on this analysis, either the first or the second statement could be correct. However, without more information or context, it's impossible to say for sure.

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