Asian Americans in the U.S.
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Asian Americans in the U.S., an all-new Packaged Facts report, provides a comprehensive analysis of the consumer attitudes and behavior of the nearly 13 million Asian Americans in the United States, who wield more per capita buying power than any other multicultural population segment. The first section of the report includes chapters on key characteristics of the Asian American population, such as projected growth trends, education and income levels, and use of the English language. The next section provides an overview of consumer expenditure patterns and shopping behavior as well as an in-depth review of Asian American attitudes and behavior in key areas, including automotive, financial services, food, health and pharmaceuticals, and technology and the Internet. The report devotes a separate chapter to two key consumer segments in the Asian American market: families with children—which account for around half of Asian American buying power—and the next generation of Asian American consumers—18- to 29-year-olds. The report concludes with a section including chapters on major media, marketing, and strategic trends in the Asian American market.
With total buying power in excess of $400 billion, Asian Americans represent the single most affluent consumer group in the United States. Of all major population segments in the United States, Asian Americans are most likely to work in managerial and professional jobs. The median household income of Asian Americans is 15% higher than non-Hispanic White household income, 56% higher than the median household income of Hispanics, and nearly double that of Black households. The number of Asian American families with incomes of $200,000 or more (152,000) is about the same as Hispanic and African American families combined (156,000).
Yet, despite their affluence, Asian Americans have remained under the radar screen of many marketers of consumer products and services. This Packaged Facts report identifies trends in consumer behavior and highlights opportunities to enable marketers to take advantage of the remarkable buying power of Asian Americans.
The information in Asian Americans in the U.S.is based on both primary and secondary research. Primary research involved interviews with experts, public relations and industry analysts in firms that specialize in Asian American market research. The report features unique analysis based on the Simmons Market Research Bureau Fall 2005 National Consumer Survey and Fall 2005 Kids National Consumer Survey. Secondary research entailed data-gathering from relevant trade, business, and government sources, including company literature.
About the Authors Dr. Robert Brown and Ms. Ruth Washton have written more than 30 Packaged Facts reports analyzing demographic trends and marketing strategies in key consumer segments. Topics have ranged from kids to mature consumers to multicultural groups such as Hispanics and African Americans. Dr. Brown and Ms. Washton have co-authored several Financial Times Business Reports on strategic business issues and have provided market and competitor intelligence studies for clients in a variety of industries. Dr. Brown has a B.S. from Georgetown University and a Ph.D. degree from The George Washington University. Ms. Washton has a B.A from Skidmore College and an M.A. from the State University of New York.
How You Will Benefit from this Report If your company is interested in understanding and reaching the Asian American market, you will find this report invaluable, as it provides a comprehensive package of information and insight about Asian American consumers not offered in any other single source. You will gain a thorough understanding of the current demographic profile of the Asian American population. Contributing to that understanding will be a complete analysis of data from published and trade sources, and in-depth examinations of the economic and societal trends that influence the consumer behaviors of this large and influential segment of the population. Plus, you’ll benefit from extensive data, presented in easy-to-read and practical charts, tables and graphs.
This report will help:
- Marketing Managers identify market opportunities and develop targeted promotion plans for Asian Americans.
- Research and development professionals stay on top of competitor initiatives and explore demand for products targeting the Asian American population.
- Advertising agencies to develop messages and images that compel Asian Americans to purchase these products.
- Business development executives understand the dynamics of the market and identify possible partnerships.
- Information and research center librarians provide market researchers, brand and product managers and other colleagues with the vital information they need to do their jobs more effectively.
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