Asian Americans have 9% higher mean income than U.S. population as a whole

Press Release
Feb 20, 2002

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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Packaged Facts, a division of MarketResearch.com, produces research reports on a wide range of consumer industries, covering the U.S. markets and including information on global market trends and opportunities.

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