Asian-Americans: Culturally Connected and Forging the Future
Asian-American consumers are confidently making a powerful impact on today’s new American mainstream. They are the fastest-growing (up 46% from 2002 to 2014) and most culturally diverse segment of what will be a multicultural majority U.S. population by the year 2043. Recent arrivals to the U.S. have fueled much of this growth, as China and India have replaced Mexico as the largest source of recent immigrants (those arriving within the last year). Fully 79% of Asian-American adults are immigrants or foreign-born, bringing with them cultural traditions that continue to influence and guide their personal choices and consumer habits.
Proud of their roots in a continent that represents over 60% of the global population, hailing from more than 40 countries, and speaking dozens of languages, Asian-Americans are sharing their unique stories, influencing tastes and trends, displaying their style and flexing their wallets.
With a voracious appetite for technology, digital entertainment, and the freshest food, Asian-Americans are focused on the future but maintain strong ties to their cultural past. As the buying power and social influence of Asian-Americans continues to expand, understanding their expectations and tastes will be indispensable for any total-market business plan or strategy.