Executive Summary: Asian Americans in the U.S.

Published by: Packaged Facts Executive Summaries

Published: Aug. 1, 2006 - 22 Pages

Table of Contents

Abstract

Containing a snapshot of the overall market analysis, each Executive Summary provides a description of the scope and methodology used in the report; chapter overviews complete with statistical data; a sampling of charts and graphs when applicable; a brief look at the trends shaping the market; and projected future growth or demise of each market sector with relevant sales figures.

The report from which this Executive Summary is compiled is for Asian Americans in the U.S., and the full study abstract is as follows:
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.

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