Fashion

Asian-Americans’ buying power up 257% since 2000

Asian-Americans thrive in an increasingly digital world and their proclivity toward everything digital affects their viewing habits and purchasing preferences, says the Nielsen report called Asian-Americans: Digital Lives and Growing Influence.Asian-Americans are active online shoppers—spending an average amount of $1,151 on internet purchases in the last 12 months, 20 per cent higher than online spending by non-Hispanic Whites. Millennial Asian-Americans made most online purchases in the categories of clothing or accessories, outpacing non-Hispanic white purchasing in this category by 13 per cent.

“Year over year, as we develop this report, we have seen consistent growth and expansion in the Asian-American consumer segment,” said Mariko Carpenter, vice president, strategic community alliances, Nielsen. “Asian-Americans’ growth, influence and spending power are key characteristics of a powerful consumer group that can make an impact on any industry or business. Now, with a growing millennial population, we are seeing Asian-Americans rising as trendsetters and leaders in business, sports, fashion, food and entertainment.”The report highlights Asian-American consumers as predictive adopters of new media and technology what they buy online.Smartphones and other mobile devices are core to the Asian-American lifestyle and identityคำพูดจาก สล็อตเว็บตรง. Thirty-three per cent of Asian-Americans say their cell phone is an extension of their personality, and 73 per cent note that text messaging is an important part of their daily lifeคำพูดจาก สล็อตเว็บตรง. They outpace non-Hispanic whites in ownership of the latest digital devices and are also more likely to use their digital devices to purchase products online and more.With a population of 21.8 million, Asian-Americans currently represent 7 per cent of the total US population. Much of the growth has come from immigration. In 2017, California had the largest Asian-American consumer spending with $323 billion. The next highest spend state was New York at $88 billion, followed by Texas at $78 billion. Their households are also more likely to have internet access than the total population and spend more annually ($61,400) than the average US household ($53,510), says the report.

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