Asian American Lifestyles - US - November 2009
Although accounting for only 4.6% of the total US population, Asian Americans boast the highest income and educational attainment of any US ethnicity. Some of wealthiest and most accomplished Americans are Asians, a group that can claim origins anywhere from Japan to India to Iran to Lebanon. With a median household income of $65,000, Asians currently possess $509 billion in purchasing power, which is projected to increase 47% by 2013. While they do not account for a huge share of American’s their substantive capital makes them a group to be explored by marketers— and in particular, by businesses offering luxury goods, the newest electronics, fine dining, and travel services.
This report provides an in-depth analysis into this lucrative ethnic group, and covers the following topics:
- A demographic overview of Asian Americans, including population growth, earning power, educational attainment, degree of acculturation, and place of residence
- Key issues and beliefs that influence Asian Americans, including the drive to succeed, the importance of family, adherence to traditions, and self-identity
- Online purchasing trends for a variety of products, including entertainment, apparel, electronics, groceries, and more
- Popular leisure activities, including use of the internet, travel, restaurants and bars, and more
- Attitudes of Asians towards their finances and spending habits in this new economy
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