Sorry for interrupting, this website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Learn more
Accept & Close

US The Asian Premium Brand and Luxury Consumer market report

The market for luxury goods in the US has been estimated at a value of about $35.3 billion, accounting for about 22% of the luxury goods market in 2015. Japan is in the second position at an estimated $30.5 billion and a 19% share, followed by Germany and China at $11.7 billion and a 7% share. As Asian luxury sales increase and the US Asian population enjoys a higher median household income, has an affinity for luxury, and is more likely than the US population, overall, to have purchased luxury goods in the last 18 months, they are a critical audience for luxury brands. Not only do they have the means and desire to buy luxury, but their luxury brand affinities may influence the overall US luxury market and they may be influenced by trends from their countries of heritage.

This report examines the following issues:

  • Asian consumers still need convincing
  • Income, education levels vary by country of origin

What you get

What's included

Why buy from us?

Succeed

Our reports will provide you with market data, consumer research and competitive intelligence to succeed in your market.

Instant Access

Buy now and you'll have instant access to the information you need to make the right decisions.

Opportunities

Find out what's next in the markets that matter to you: where opportunities lie and what challenges you will face.

Trusted

A business Superbrand, Mintel is a source you can trust. We have been defining and refining the Market Intelligence mix since 1972.

Table of contents

  1. Overview

    • What you need to know
      • Definition
        • Asians
          • Premium brand and luxury
          • Executive Summary

              • The issues
                • Asian consumers still need convincing
                  • Figure 1: Asians’ perceptions of luxury brands and attitudes toward luxury brands, by all and luxury buyers, August 2016
                • Income, education levels vary by country of origin
                  • Figure 2: Asian education and household income levels, by country of origin/heritage, 2010
                • The opportunities
                  • Younger shoppers are a critical target
                    • Figure 3: Asians’ luxury purchases in the last 18 months and attitudes toward luxury brands, by age, August 2016
                  • The online opportunity
                    • Figure 4: Where Asians purchase luxury goods, by <45 age groups and Indians, August 2016
                  • Luxury brands can do more to reach out to the Indian consumer
                    • Figure 5: Asians’ luxury purchases in the last 18 months and attitudes toward luxury brands, by all and Indians, August 2016
                  • What it means
                  • The Market – What You Need to Know

                    • A growing audience
                      • Affluent and educated
                        • Many groups within one demographic
                          • Incomes vary by group
                          • Asian Americans – By the Numbers

                            • A growing audience
                              • Figure 6: Population by race and Hispanic origin, 2011-21
                            • High incomes and growing buying power
                              • Figure 7: Median household income, by race and Hispanic origin, 2015
                              • Figure 8: Purchasing power by race and Hispanic origin, 2009-19
                            • High levels of education and income
                              • Figure 9: Educational attainment of the population 25 and older, by race and Hispanic origin, 2015
                          • Market Breakdown

                            • Significant differences by national origin
                              • Figure 10: Asian population, by country of origin/heritage, 2010
                            • Acculturation levels driven by immigration trends
                                • Figure 11: Asian demographics, by country of origin/heritage, 2010
                              • Notable differences in buying power
                                • Figure 12: Asian purchasing power by subgroup, 2014
                            • Market Factors

                              • Uncertain times for luxury
                                • Crackdown in China
                                  • Digital a critical channel
                                    • Figure 13: Personal ownership of laptops/netbooks, smartphones, and tablets, Asians index to all, April 2015
                                    • Figure 14: Internet use, by race, 2004-16
                                • Key Strategies – What You Need to Know

                                  • Quality sells
                                    • Feature Asian celebrities
                                      • Be careful when it comes to culture
                                        • Better with bloggers
                                          • The message is clear
                                          • What’s Working?

                                            • Highlight quality
                                              • Target smart
                                                • Feature Asian faces
                                                • What’s Struggling?

                                                  • Be wary of cultural appropriation
                                                  • What’s Next?

                                                    • The power of the blog
                                                      • Beyond the web
                                                      • The Consumer – What You Need to Know

                                                        • Quality is key
                                                          • Asians more likely to buy luxury
                                                            • Handbags, cosmetics, shoes, clothing most popular
                                                              • Asians like discounts but buy at department stores
                                                                • Rolex, Louis Vuitton most desired
                                                                  • Quality a more important driver than status
                                                                  • How Asians Define Luxury

                                                                      • Quality the key hallmark of luxury
                                                                        • Figure 15: How Asians define luxury, by all and luxury buyers, August 2016
                                                                      • Indians, Chinese particularly interested in quality
                                                                        • Figure 16: How Asians define luxury – Product related, by country of origin, August 2016
                                                                      • Prestige important to Japanese
                                                                        • Figure 17: How Asians define luxury – Image related, by country of origin, August 2016
                                                                      • Quality, cost more linked for American culture
                                                                        • Figure 18: How Asians luxury goods buyers define luxury, by dominant culture, August 2016
                                                                    • Asians’ Luxury Purchases

                                                                        • Asian cultural identification drives sales
                                                                          • Figure 19: Luxury purchases in the last 18 months, Asians vs All US and by dominant culture, August 2016
                                                                        • Younger, middle-income Asians prime consumers
                                                                          • Figure 20: Asians’ luxury purchases in the last 18 months, by gender, age, and household income, August 2016
                                                                        • Indians particularly likely to buy luxury
                                                                          • Figure 21: Asians’ luxury purchases in the last 18 months, by country of origin and ethnic heritage, August 2016
                                                                        • Celebrity watchers buy more
                                                                          • Figure 22: Asians’ luxury purchases in the last 18 months, by impact of Asian and American celebrities in ads, August 2016
                                                                      • Asians’ Luxury Purchasing Habits

                                                                          • Asians prefer buying on sale
                                                                            • Figure 23: Luxury purchasing habits, by Asians, Blacks and affluent/HNW, August 2016
                                                                          • Lower-income group actually more likely to pay full price
                                                                            • Figure 24: Asians’ luxury purchasing habits, by household income, August 2016
                                                                          • Asians more likely to afford buying designer
                                                                            • Figure 25: Budget for designer clothes, Asians vs All US and by Asian age and household income, April 2015-June 2016
                                                                        • Types of Luxury Products Asians Purchased

                                                                            • Cosmetics, handbags most popular purchase
                                                                              • Figure 26: Types of luxury products Asians purchased, August 2016
                                                                            • Women buy bags, men buy clothes
                                                                              • Figure 27: Types of luxury products Asians purchased – Females more likely, by gender, August 2016
                                                                              • Figure 28: Types of luxury products Asians purchased – Males more likely, by gender, August 2016
                                                                          • Where Asians Purchase Luxury Goods

                                                                              • Asians most likely to buy from department stores
                                                                                • Figure 29: Where Asians purchase luxury goods, August 2016
                                                                              • Lower-income more likely to buy online
                                                                                • Figure 30: Where Asians purchase luxury goods, by household income, August 2016
                                                                              • Strong approval of specialty stores
                                                                                • Figure 31: Attitudes toward specialty stores, Asians vs All US, April 2015-June 2016
                                                                            • Luxury Brands Asians Desire Most

                                                                                • Rolex, Louis Vuitton on the top
                                                                                  • Figure 32: Luxury brands Asians desire, by all and luxury buyers, August 2016
                                                                                • Rolex the most desired brand among Asian men
                                                                                  • Figure 33: Luxury brands Asians desire, by gender and age, August 2016
                                                                                • Indians like Rolex, Filipinos prefer Louis Vuitton
                                                                                  • Figure 34: Luxury brands Asians desire, by country of origin, August 2016
                                                                              • Asians’ Perceptions of Luxury Brands – Value and Image

                                                                                  • Luxury’s value proposition could improve
                                                                                    • Figure 35: Asians’ attitudes toward luxury brands – Value, by all and luxury buyers, August 2016
                                                                                  • Younger men most likely to consider knockoffs
                                                                                    • Figure 36: Asians’ attitudes toward luxury brands – Value, by gender and age, August 2016
                                                                                  • Luxury connotes success and taste
                                                                                    • Figure 37: Asians’ attitudes toward luxury brands – Image, by all and luxury buyers, August 2016
                                                                                  • Indians very motivated by status
                                                                                    • Figure 38: Asians’ attitudes toward luxury brands – Image, by country of origin, August 2016
                                                                                  • Asians prefer community over standing out
                                                                                    • Figure 39: Attitudes toward image, Asians vs All US, April 2015-June 2016
                                                                                • Asians’ Perceptions of Luxury Brands – Asian Targeting

                                                                                    • Asian celebrities not a major influence
                                                                                      • Figure 40: Asians’ attitudes toward luxury brands – Asian targeting, by all and luxury buyers, August 2016
                                                                                    • Indians most open to celebrity influence
                                                                                      • Figure 41: Asians’ attitudes toward luxury brands – Asian targeting, by country of origin, August 2016
                                                                                  • Appendix – Data Sources and Abbreviations

                                                                                    • Data sources
                                                                                      • Consumer survey data
                                                                                        • Abbreviations and terms
                                                                                          • Abbreviations
                                                                                          • Appendix – Market

                                                                                              • Figure 42: Educational attainment of the population 25 and older, by race and Hispanic origin, 2015
                                                                                          • Appendix – Consumer

                                                                                              • Figure 43: Asians’ attitudes toward apparel, index to all, and by age and household income, April 2015-June 2016
                                                                                              • Figure 44: Asians’ attitudes toward shopping, index to all, and by age and household income, April 2015-June 2016
                                                                                              • Figure 45: Asians’ attitudes toward shopping, index to all, and by age and household income, April 2015-June 2016

                                                                                          Companies Covered

                                                                                          To learn more about the companies covered in this report please contact us.