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Digital Trends - Asians - US - July 2015

Digital Trends - Asians - US - July 2015

"Despite their relatively small share of the US population, Asians play an important and growing role in the markets for consumer electronics (CE) products and digital services. Young, affluent, and educated, Asians are leaders in adoption of new technologies, participation in online activities, and engagement with the mobile web, and their influence will only grow over the next decade."

- Fiona O'Donnell, Category Manager - Multicultural, Lifestyles, Leisure and Travel

This report discusses the following key issues:

Small Asian population a challenge for marketers
Affluent Asians can afford the newest technology
Asians prefer strong global brands
Asians favor forward-looking technology


OVERVIEW
What you need to know
Definition
EXECUTIVE SUMMARY
Figure 1: Estimated Asian spending on select electronic equipment, 2014
The issues
Figure 2: Median household income, Asians versus all, 2013
Figure 3: CE brands where Asians over index for ownership, by category, April-December 2014
The opportunities
Figure 4: Personal ownership of laptops/netbooks, smartphones, and tablets, Asian versus all, April 2015
Figure 5: Social media sites visited, Asians versus all, April 2015
Figure 6: Asian personal ownership of consumer electronics hardware, by country of origin, April 2015
Figure 7: Opinions regarding video games – Teens, by race, November 2013-December 2014
What it means
THE MARKET
What you need to know
Asian share of electronics spend small but growing
Asians have outsized purchasing power
Demographics of Asian population positive for tech purchasing and use
Affluent Asians can afford the newest gadgets
Expenditures on select electronic equipment
Asians make up small but fast-growing share of CE consumption
Figure 8: Spending on selected electronic equipment, by all consumers and Asians, 2014
Market perspective
Asian American buying power growing rapidly
Figure 9: Purchasing power, by race/Hispanic origin, 1990-2019
Asian buying power geographically concentrated
Figure 10: Top 10 states ranked by dollar amount of Asian buying power, 2014
Market factors
Asians overrepresented in tech-friendly age groups
Figure 11: Asian American share of projected population, by age, 2015-25
Nearly one third of US Asians are Millennials
Figure 12: Generations, by race, 2014
Asians more likely to be financially secure
Figure 13: Median household income, Asians versus all, 2013
Figure 14: Unemployment, Asians versus all, January 2007- March 2015
KEY PLAYERS
What you need to know
Strength beats value
Global beats regional
Future of gaming among Asians taking off
What’s in?
Dominance, prestige, and Asian brands
Figure 15: Hardware brand owned, Asian versus all, April-December 2014
What’s out?
Regional brands, value brands, and uncertainty
Figure 16: Hardware brand owned, Asian versus all, April-December 2014
What’s next?
New gaming hardware
Figure 17: Brand summary of video game systems owned or played, Asian versus all, April-December 2014
THE CONSUMER
What you need to know
Asians favor latest and best technology
Asians lead shift to mobile
Asians highly influential tech consumers
Indians most tech-savvy Asian group
Technology products overview
Opportunities in A/V equipment
Figure 18: Asian household ownership of consumer electronics hardware, April 2015
Selling upgrades and accessories for mobile computing
Figure 19: Asian personal ownership of consumer electronics hardware, April 2015
Indians lead and Japanese lag on adoption of mobile computing
Figure 20: Asian personal ownership of consumer electronics hardware, by country of origin, April 2015
Unacculturated Asians less tempted by entertainment technology
Figure 21: Asian personal ownership of consumer electronics hardware, by dominant culture, April 2015
Television ownership
Asians lead trend away from TV
Figure 22: Household ownership of televisions, Asian versus all, April 2015
Figure 23: Number of televisions owned, Asian versus all, April 2015
Television behaviors and attitudes
Linear television on the way out
Figure 24: Attitudes toward watching television, Asian versus all, April 2015
Figure 25: Television watching behaviors, Asian versus all, April 2015
Asians appear to exert more control over their TV advertising exposure
Figure 26: Attitudes toward TV and advertising – any agree, Asian versus all, Fall 2014
Physical and digital playback
Asian abandonment of shiny discs negative indicator for larger market
Figure 27: Household ownership of media playback devices, Asian versus all, April 2015
Gaming consoles
Asians are less likely to own gaming consoles
Figure 28: Gaming console ownership, Asian versus all, April 2015
Asian young adults represent missed opportunity for gaming
Figure 29: Gaming console personal ownership, Asian versus all, by age, April 2015
PCs and tablets
Asians abandon desktops at rapid rate
Figure 30: Asian household ownership of PCs – Type, trended, April 2010-December 2014
Asians a prime market for mobile computing accessories, services
Figure 31: Household and personal ownership of PCs, Asian versus all, April 2015
Mobile phones and wearables
Asians leading shift to smartphones
Figure 32: Personal ownership of mobile phones, Asian versus all, April 2015
Asians prime untapped market for wearables
Figure 33: Personal ownership of wearable devices, Asian versus all, April 2015
Other portable electronics hardware
Asians lead the way in abandoning single-function devices
Figure 34: Asian household/personal ownership of other portable electronics hardware – Type, trended, April 2010-December 2014
Figure 35: Other portable electronics hardware ownership, Asian versus all, April 2015
Figure 36: Devices used to read an e-book in the last 12 months, Asians versus all, April 2014-December 2014
Internet usage
Internet usage nearly universal among Asian Americans
Figure 37: Asians’ incidence of internet use, April 2012-December 2014, and by age, April 2014-December 2014
Asians more likely than the average to access via mobile devices
Figure 38: Methods used to access the internet in the last three months, Asians versus all, April 2015
Out-of-home internet use growing rapidly
Online activities
Asians leading a massive shift to the mobile web
Figure 39: Online activities in past three months, Asians versus All, April 2015
PCs still relevant
Figure 40: Selected online activities by Asians in past three months, by device, April 2015
Social media
Visual communication – photos and image sharing – important to Asians
Figure 41: Social media sites visited, Asians versus all, April 2015
Attitudes toward technology and electronics
Asians know and love cutting-edge technology
Figure 42: Attitudes toward technology, Asians versus all, April 2015
Indian Asians are enthusiastic and confident about technology
Figure 43: Attitudes toward technology, by country of origin, April 2015
Figure 44: Attitudes toward electronics – Any agree, by country of origin, April 2015
APPENDIX
Data sources and abbreviations
Data sources
Abbreviations and terms
Key players
Figure 45: Asians’ household internet service subscription, trended, April 2014-December 2014
Figure 46: Brand of GPS owned, Asian versus all, April 2014-December 2014
Figure 47: Social media sites visited, Asians versus all, April 2015
Figure 48: Devices used to read an ebook in the last 12 months, Asians versus all, April 2014-December 2014
Consumer
Television
Figure 49: Asian household ownership of televisions – Type, trended, April 2010-December 2014
Figure 50: Asians’ attitudes toward TV and advertising – Any agree, trended, April 2010-December 2014
Physical and digital playback
Figure 51: Asian household ownership of DVD/Blu-ray player, trended, April 2010-December 2014
Gaming consoles
Figure 52: Asians and video games – Owns or plays, trended, April 2010-December 2014
Mobile phones
Figure 53: Asian cellphone/smartphone ownership – Type, trended, April 2012-December 2014
Other portable electronics
Figure 54: Asian household/personal ownership of other portable electronics hardware – Type, trended, April 2010-December 2014
Internet usage
Figure 55: Asian internet usage, trended, April 2012-December 2014
Figure 56: Asians’ internet usage by location, trended, April 2012-December 2014
Figure 57: Internet browsers Asians use to access the internet, trended, April 2014-December 2014
Figure 58: Asians’ household internet service subscription, trended, April 2014-December 2014
Figure 59: Asians’ method of internet access at home, trended, April 2012-December 2014
Figure 60: Hardware Asians use to access the internet at home, trended, April 2012-December 2014
Online activities
Figure 61: Online activities in past three months, Asians versus all, April 2015
Attitudes toward technology and electronics
Figure 62: Attitudes toward electronics – Any agree, Asians versus all, April 2015
RESEARCH METHODOLOGY
US Multicultural Methodology
Consumer research
Trade research
Statistical Forecasting

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