The New Asian American Market – GlobalHue.

Overall, Asian segments are on the rise:

  • Asian American population = 15+ million (Census est. 2009)
  • Strong immigration (highest among Asian Indians, Chinese, and Filipinos)
  • Growing # of descendants
  • Relatively young, median age is 34

Buying power remains strong; median household income (08) at:

  • $67K (versus US total population: $52K) // Chinese=$68K // Asian Indian=$90K // Filipinos=$80K // Korean=$54K // Vietnamese=$55K
  • Annual buying power = ~$427+ billion (estimated to reach $670 billion by 2012)

Geographically, CA & NY are the best states to target mass Asians.

  • Concentrated pop. #s
  • Strong buying power
  • Strong media presence

The CA Asian American Youth and Young Adult market is particularly important to watch

  • 50% of students at 6 University of CA schools are Asian/Asian-American
  • Above average income levels –> early adopters of technology; digitally

Cultural insights.

  • Family: The majority of Asian Americans are either primed for parenthood, or their households include more than 3 (family values still important to most Asian-Americans)
  • Education: 43% of Asian Americans hold a college degree (compared to 27.7% of total US population)
  • Heritage: 1.5 and 2nd Generation Asian Americans still embrace traditions to stay connected to their roots (celebrate Lunar New Year; revisit/return to their ancestral ‘homeland’ – rise in “hai gui”

Asian-Americans, like other multicultural segments, are highly tech adoptive and responsive.

  • The population of early adopting Asian Americans is growing – while the older generations of the segment are becoming more accustomed to new technologies.
  • 76% of Asian Americans vs. 67.8% of non-Asians are regular users of the Internet
  • Asian Americans over index in PC and smartphone ownership. As of Feb 2010, 95% of Asian Americans own PCs (as compared to 83% of the overall population.)
  • Asian Americans (as well as Hispanics) are more likely to be influenced by a blogger recommendation to purchase a product or service than their non-Hispanic white counterparts