New report finds that Asian Americans are expanding their geographic reach to the South and Midwest, exhibiting buying behaviors specific to cultures and influencing mainstream habits
New York, NY – May 19, 2016 – Asian Americans’ impact and influence are shifting and growing, according to Asian Americans: Culturally Diverse and Expanding Their Footprint, a Nielsen report released today. Members of this diverse segment are starting businesses, creating jobs and contributing to the U.S. economy, with a current $825 billion in consumer buying power—which is expected to rise to $1.1 trillion by 2020. As the fastest-growing U.S. population segment with an expanding geographic footprint in the Midwest and South—beyond traditional immigrant enclaves in the West and Northeast—the Asian-American impact on consumer preferences is rippling across mainstream America, with far-reaching implications for brands and marketers.
As part of Nielsen’s ongoing efforts to provide insights that help marketers better serve Asian-American consumers, the report highlights the different ways in which this particular segment is exerting cultural and economic influence on the U.S. mainstream market today through a regional lens.
“If marketers and companies want to be successful, it is imperative they develop growth strategies that account for Asian Americans’ diverse ethnicities to better resonate with the cultural nuances of this unique multicultural community,” said Betty Lo, vice president, Community Alliances & Consumer Engagement, Nielsen. “This segment not only has culturally specific tastes and preferences, but also buying behaviors that are unique to geographic regions. In addition, U.S. Census projections show that Asian Americans are on track to become the largest immigrant group in the nation by 2055. As entrepreneurs, tech titans and digital content consumers, Asian Americans’ cultural identities will play a unique role in impacting the U.S. economy and marketplace.”
“Nielsen has been a longtime partner to Asian-American and Pacific Islander-serving organizations by providing culturally sensitive data about our multifaceted community,” said Nita Song, co-chair, Nielsen Asian Pacific American External Advisory Council and President, IW Group. “Without these diverse insights, we would not be aware of the tremendous buying power and cultural influence that Asian-Americans have on the mainstream market, which is why it is so important to say ‘yes’ if the opportunity to participate as a Nielsen household arises.”
Entrepreneurial Economic Drivers
Unique Culinary Tastemakers and Environmentally Sustainable Consumers
Tech Titans and Content Consumers
For more details and insights, download Asian Americans: Culturally Diverse and Expanding Their Footprint.
In 2011, Nielsen launched the Diverse Intelligence Series, a robust portfolio of comprehensive reports that 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. To learn more about Nielsen’s Diverse Intelligence research series, visit www.nielsencommunity.com.
Nielsen Holdings plc (NYSE: NLSN) is a global performance management company that provides a comprehensive understanding of what consumers watch and buy. Nielsen’s Watch segment provides media and advertising clients with Total Audience measurement services for all devices on which content—video, audio and text—is consumed. The Buy segment offers consumer packaged goods manufacturers and retailers the industry’s only global view of retail performance measurement. By integrating information from its Watch and Buy segments and other data sources, Nielsen also provides its clients with analytics that help improve performance. Nielsen, an S&P 500 company, has operations in over 100 countries, covering more than 90% of the world’s population. For more information, visit www.nielsen.com.