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This new Packaged Facts report focuses on the consumer attitudes and spending patterns of Asian Americans, who continue to offer the most lucrative opportunities in the multicultural consumer market. Asian-American households represent 40% of all multicultural households with an income between $150,000 and $200,000, and they account for nearly half of those with an income of $200,000 or more. With buying power now approaching $600 billion, Asian-American households are more affluent than any other population group in the country, including non-Hispanic whites.
The first chapter of the report analyzes key trends shaping the Asian-American market and identifies opportunities created by Asian-American consumers. Using data from a just released 2008 survey conducted by New American Dimensions and interTrend Communications, the chapter highlights key characteristics of Asian-Indian consumers, the fastest-growing and most affluent Asian-American market segment.
The next chapters of the report assess the buying power of Asian Americans, provide an overview of demographic trends affecting the market, analyze the economic status of Asian Americans and discuss ongoing trends in language use and acculturation on the part of Asian Americans.
Another chapter provides comprehensive profiles of the largest subgroups of the Asian-American market—Asian Indians, Chinese, Filipinos, Vietnamese, Koreans and Japanese. The profiles provide in-depth data on topics important for marketers to understand about each of these Asian-American population segments. The profiles rank metropolitan areas in terms of the population of each subgroup and include data on language and acculturation, family structure, educational attainment and employment patterns.
The next section of the report provides a comprehensive overview of the attitudes and behavior of the Asian-American consumer. One chapter evaluates how Asian Americans manage their personal finances and their shopping and spending patterns. Another chapter offers an in-depth look at the involvement of Asian-American consumers with technology and the Internet. Another chapter analyzes key aspects of Asian-American consumer behavior across a variety of areas. One part of this chapter highlights the interest of Asian Americans in eating organic and natural foods. Other aspects of consumer behavior covered by the chapter include leisure and entertainment, fashion, car ownership and health and wellness. The report concludes with a chapter on the media usage habits of Asian Americans.
The report is based on information collected directly from firms active in the Asian-American market as well as a comprehensive analysis of relevant industry and trade publications. Primary research sources include the Winter 2007/2008 National Consumer Survey of Simmons Market Research Bureau.
The report also includes data from "Asian Indians in the U.S.," September 2008, a study based upon an online survey of 458 first-generation Asian-Indian respondents conducted by Los Angeles, California-based New American Dimensions (NAD) and Long Beach, California-based interTrend Communications.
U.S. Government sources include the Census Bureau, Bureau of Labor Statistics (BLS) and Office of Immigration Statistics. Census Bureau data used in the report include population projections and data from the 2007 American Community Survey that were released in August 2008. The report also includes the latest available data on detailed demographic characteristics of Asian-American subgroups from the 2006 Community Survey.
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