Gucci, a maker of luxury fashion and leather goods, plans to expand its sales market.The firm needs to compare countries for the market potential of its products.Which of the following is the best indicator for Gucci to use?

Question

Quizplus · Accepted Answer

The number of millionaires in each country is the best indicator for Gucci to use because luxury fashion and leather goods are targeted towards high-income individuals, and the number of millionaires in a country is a good approximation of the potential market for such products. Per capita income, population size, and gross domestic product do not directly capture a country's potential market for luxury goods.

Gucci, a Maker of Luxury Fashion and Leather Goods, Plans