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There are over 13 million people of Asian origin in the United States and they represent a population segment with significant business opportunities for savvy marketers. Research and census data indicate these important factors about Asian Americans:
- Population growth is 6 times the national average
- As of 2006, Asian American consumer annual buying power reached $427 billion, a 59% increase since 2000
- Highest education levels and median household incomes of any ethnic group
- Highest rate of home ownership (>50%) of any ethnic group
- Technology savvy – heaviest everyday internet users of any ethnicity
- Easy to reach – majority are in a handful of major metropolitan areas
- Sophisticated consumers who are very brand and value conscious
- While the Asian population in the U.S. is just 1/3 that of Hispanics, Asian annual buying power is nearly 55% of Hispanic buying power!
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It has been demonstrated that, despite the rise of digital media, the most cost effective way to reach this underserved market sector, (which is also tightly connected to the vast markets in the Far East), is still by print media. Print media is where cultural heritage is maintained and this is why:
- Over 75% of Asian-Americans are foreign-born
- More than 78% of Asian-Americans speak their native languages at home
- Although 86% of Asian-Americans can SPEAK English, only 5% prefer to READ in English
- Even after 20 years of living in the U.S., 65% still prefer to read/write in their own languages
- 98% of Chinese-Americans view in-language advertising as a top indicator of interest in having them as a customer
- English language media excludes over 75% of the Asian-American audience
Are you planning a company training or industry conference? Then consider enlisting XL Concepts for a presentation on HOW TO BUILD YOUR ASIAN AMERICAN CUSTOMER BASE. Learn key cultural factors, demographic trends, & buying patterns. View an information sheet about the topic and the speaker |
