Read on for the latest insights into Asian American consumers on origin, language, and marriage.
Fill out the form to replay our webinar, Leverage Asian American Purchasing Power, and read the blogs below for the latest multicultural consumer trends.
What are the major characteristics of Asian American Consumers?
Asian American consumers show strong family loyalty and cultural duality – upholding traditions, while also a tending to embrace American culture. This is an impactful, fast-growing segment with a rich cultural mosaic of values and passion. Asian American buying power in the U.S. surpassed $1 trillion in 2018 and is expected to continue to increase beyond $1.3 trillion by 2023. Collage Group Asian market research goes deep into the consumer trends across various Asian American consumer groups, both foreign-born and U.S.-born, including Filipino, Vietnamese, Indian, Chinese and Korean.
Products & Services
The Latest in Asian American Consumer Trends
As advertising approaches a tipping point in the need to appeal across multiple demographics, marketers are asking “what really works across the wide spectrum of identity that is America today?” Our analysis of ads unpacks the conundrum and reveals some startling insights.
It’s a common assumption in messaging research that multicultural consumers are liberal, but when brands and advertisements try to put this idea into practice, their efforts often fall flat. It is therefore important to investigate the appeal of specific messages on individual cultural segments.
According to the Big Shift, multicultural patients have contributed $47.1 billion to the health care industry growth since 2006; Asians alone contributed $11.8 billion.
Due to the growing interest in U.S. Asian consumers, brands and marketers are asking: Is there a pan-Asian identity or culture? What are their values and passions? Do Asian consumers need or even want in-language or in-culture services?
While millennials and Hispanics are currently the most coveted consumer segments, Asian consumers shouldn’t be overlooked. They represent a growing opportunity for marketers and brands, due to their fast growth and purchasing power. What does the U.S. Asian segment look like?