Seize the Opportunity: Engage the Asian American Consumer Segment-the fastest-growing U.S. multicultural market segment with knowledge of their behaviors, preferences, spending habits & more.
The Asian American population is a driving force in the U.S. economy, boasting astonishing growth, ancestral diversity, and superior buying power. Representing over 21.1 million individuals, they constitute 6.2% of the total U.S. population and have accounted for nearly 18% of the country’s population growth since the 2000 Census.
Their diverse ancestral backgrounds, including Chinese, Asian Indian, and Filipino populations, present both opportunities and challenges for marketers. Understanding their acculturation levels is crucial, with 46% being acculturated, 19% bicultural, and 35% preferring to retain their native heritage and language.
The Asian American consumer segment’s buying power is remarkable, with over 50% of Asian households reporting annual incomes exceeding $100,000. The median Asian household income is $103,903, approximately 41% higher than the median for all U.S. households. Moreover, they are projected to spend over $1 million more than the average U.S. household throughout their lifetimes.
To seize your fair share of this burgeoning segment, it is imperative to employ a well-informed marketing strategy. By leveraging both traditional and digital media channels, you can effectively reach tech-savvy and digitally connected Asian consumers. Understanding their cultural preferences and linking them to the appropriate media campaigns, channels, and devices will undoubtedly yield remarkable returns for your company’s bottom line.
To equip you with the insights necessary to engage Asian American consumers in an authentic manner, we have compiled an invaluable resource—the Asian American Market Report. Within this report, you will find a wealth of quantitative and qualitative data, along with actionable statistics, to shape and refine your Asian marketing strategy.
Don’t miss out on this opportunity. Download the Asian American Market Report now and gain a competitive edge in this important market.