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This new Packaged Facts report provides a thorough analysis of the Asian American market; the most affluent of the population segments tracked by the U.S. Census Bureau. The report uses the latest data available from Census 2000 as well as data from 2001 Census surveys to compile a comprehensive demographic assessment of Asian Americans, including income levels, family structure, and employment patterns. Profiles are provided for the various national subgroups that comprise the Asian American population, including Asian Indians, Chinese, Vietnamese, Filipinos, Koreans, and Japanese. Key trends in the Asian American market are highlighted and estimates of the size and growth of the purchasing power of Asian Americans are provided. The report details the offline and online consumer behavior of Asian Americans and shows how cultural factors can affect their buying decisions. Asian American media are reviewed, marketing and advertising strategies employed in the Asian American market are analyzed, and case studies of companies targeting the Asian American market are presented. Appendices include information about resources available to companies interested in the Asian American market and examples of advertisements designed for Asian American consumers.
Between 1990 and 2000 the Asian American population increased nearly four times as fast as the U.S. population as a whole. Asian American households outpace all other population groups in relative spending power and have a more favorable economic profile than non-Hispanic white households. The $83,804 in average income enjoyed by Asian American married-couple households is 8% higher than that of non-Hispanic white households. Moreover, on average, Asian Americans working full-time earn more than their non-Hispanic white counterparts ($47,189 vs. $46,794).
Find out about the cultural factors that can drive the buying decisions of Asian Americans. Learn how companies active in the Asian American market reach out to various Asian American subgroups. Discover how the Internet enables marketers to target niche groups among Asian Americans, the most connected of all population groups in the United States.
"Asian" and "Asian American" Defined
The U.S. Census Bureau uses the term "Asian" to refer to people having origins in any of the original peoples of the Far East, Southeast Asia, or the Indian subcontinent. It includes people who on the Census 2000 questionnaire indicated their race or races as "Asian Indian," "Chinese," "Filipino," "Korean," "Japanese," "Vietnamese," or "Other Asian." This Packaged Facts report uses the term “Asian” when it appears in the context of Census data and clearly refers to Asians living in America. In other cases, the term "Asian American" is used to describe individuals who identified as "Asian" in Census 2000.
Asian American Market Defined
The Asian American population counted by Census 2000 includes individuals who identified as "Asian alone" and people who reported one or more races in combination with Asian. For purposes of the market analysis in this report, Packaged Facts defines the Asian American market as consisting of the purchasing power of people who identified in the Census 2000 as "Asian alone."
This report is based upon information from advertising agencies, marketing firms, and media specializing in the Asian American market, a comprehensive review of print media and Web sites geared toward Asian Americans, and a thorough analysis of relevant trade and professional journals. Primary research from a variety of sources is analyzed.
Census data used in this Packaged Facts report include the latest data available from Census 2000 and data from the March 2000 and March 2001 Current Population Surveys. Other U.S. Government sources include data from the National Telecommunications and Information Administration.
Asian Americans have 9% higher mean income than U.S. population as a whole
New York, February 20/PRNewswire - The Asian American population of the United States is the most affluent demographic segment in the country, and holds a more favorable economic profile than the country’s non-Hispanic white population. According to The U.S. Asian American Market, a new research report published by Packaged Facts and available through MarketResearch.com, the Asian American population of the United States had a buying power of $246 billion in 2001, making it an especially important consumer segment for retailers and marketers nationwide.
In addition to holding sizable economic clout, the Asian American population has been growing at an exceptionally high rate: between 1990 and 2000 the Asian American population increased nearly four times as fast as the U.S. population as a whole. However, as with all demographics, locating the media outlets and messages that will target the Asian American consumer is quite difficult, and generational differences and diverse ethnic subgroups within the market make Asian Americans a particularly complex audience to capture.
“The Asian American market consists of numerous subgroups with distinct languages and cultural frames of reference,” said Meg Hargreaves, VP of Research Publishing for MarketResearch.com. “Differences in acculturation, income, occupational status, language, and culture require marketers to develop sophisticated strategies to tap into the rich potential of the Asian American market.”
The U.S. Asian American Market delivers demographic profiles of the various national subgroups within the population, discusses consumer and shopping behavior, and also includes data regarding the population’s educational and employment patterns.
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