Asian-Americans Outpace Ethnic Groups in Population Growth and Increased Spending Power
New York, NY – May 8, 2018 – According to Asian Americans: Digital Lives and Growing Influence, a Nielsen report released today, Asian-American consumers are growing faster than the general population and maintaining income and education rates higher than any other racial or ethnic group. Asian Americans continue to make gains as tech-enabled influencers with unlimited potential. As the fastest growing ethnic group, Asian Americans’ consumer buying power has grown exponentially to $986 billion, up 257% since 2000, versus 97% for the total U.S.
“Year over year, as we develop this report, we have seen consistent growth and expansion in the Asian-American consumer segment,” said Mariko Carpenter, Vice President, Strategic Community Alliances, Nielsen. “Asian Americans’ growth, influence and spending power are key characteristics of a powerful consumer group that can make an impact on any industry or business. Now, with a growing Millennial population, we are seeing Asian Americans rising as trendsetters and leaders in business, sports, fashion, food and entertainment. Marketers, take note.”
This year’s report highlights Asian-American consumers as predictive adopters of new media and technology—including the platforms consumers use to watch their favorite shows, what they buy online, and which apps they choose to enhance their everyday lives. According to the annual Nielsen report, Asian Americans are showing incredible growth in mainstream influence as social influencers, food bloggers and talented U.S. athletes. Data in this report show the star power of these Asian Americans and their ability to build audiences that are more representative of the American public.
Smartphones and other mobile devices are core to the Asian-American lifestyle and identity. Thirty-three percent of Asian Americans say their cell phone is an extension of their personality, and 73% note that text messaging is an important part of their daily life. Asian Americans present the added advantage to marketers of maintaining ties with home cultures where global leaders in smartphone manufacturing, social media and online commerce have headquarters. They outpace non-Hispanic Whites in ownership of the latest digital devices and are also more likely to use their digital devices to purchase products online, listen to music and radio, watch TV or movies, as well as other daily lifestyle functions.
“Nielsen’s commitment to providing a nuanced and distributed view of diverse consumers for their clients and the community is illustrated in this rich and robust body of work,” said Edwin Wong, co-chair of Nielsen’s Asian Pacific American External Advisory Council, and Senior Vice President, Research and Insights, BuzzFeed. “This report, which underscores the impact of Asian-American consumers in terms of consumer power and broader influence, will help Nielsen’s clients and the industry understand preferences to better meet our needs.”
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Influence and Impact
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For more details and insights, download the new report.
In 2011, Nielsen launched the Diverse Intelligence Series, a robust portfolio of comprehensive reports which focus solely on diverse consumers’ unique consumption and purchasing habits. The series has become an industry resource to help brands better understand and reach ethnic customers. Learn more about Nielsen’s Diverse Intelligence research series.
Nielsen Holdings plc (NYSE: NLSN) is a global measurement and data analytics company that provides the most complete and trusted view available of consumers and markets worldwide. Our approach marries proprietary Nielsen data with other data sources to help clients around the world understand what’s happening now, what’s happening next, and how to best act on this knowledge. For more than 90 years Nielsen has provided data and analytics based on scientific rigor and innovation, continually developing new ways to answer the most important questions facing the media, advertising, retail and fast-moving consumer goods industries. An S&P 500 company, Nielsen has operations in over 100 countries, covering more than 90% of the world’s population. For more information, visit www.nielsen.com.
Mia Scott: 646-654-5459; Mia.Scott@Nielsen.com
For IW Group, Inc.
Diane Nguyen: 213-262-7042; Diane.Nguyen@IWGroupinc.com