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In the latest study by KSCI-TV in Los Angeles, results revealed remarkable
trends among Southern California's Asian consumers (Chinese, Korean, and Vietnamese).
The multi-language study addressed the following industries: automotive, computer/internet,
department/discount stores, family restaurants, fast food, financial/investment,
packaged foods, grocery shopping, healthcare/pharmaceutical, leisure activities,
movies, media usage, shopping centers, telecommunications, travel, and video
games.
Financial
The study found that the Asian community is a growing market for various investment
products as well as for major insurance segments such as life, auto, health
and homeowners.
- 77% of Chinese, 64% of Koreans and 58% of Vietnamese indicated that the have
some sort of investment.
- An explosion of Korean investments in mutual funds, IRA's, stocks and real
estate: The percentage of Koreans with a mutual fund grew from 16% in 2000 to
29% in 2002.
- 40% of all respondents report having a home mortgage.
Fast Food Restaurants
The survey revealed that Asians are turning to fast food for snacks and meals.
Fast food consumption is quickly growing among this market.
- In 2002, 39% of Chinese and 36% of Koreans reported eating fast food meals
several times a week or more, compared to 32% and 30% respectively in 2000.
- Nearly 60% of Chinese, Korean and Vietnamese respondents said that they dine
on fast food meals at least once a week.
- KFC's market share has increased dramatically since the launch of their Asian
focused campaign in 2000.
- The survey implied that the market is unfamiliar and needs to be educated
on breakfast items offered at fast food outlets.
Packaged Foods
Results showed that Asians have a high propensity for the consumption of certain
categories packaged foods such as yogurt, soymilk and instant coffee. Also:
- 90% of Asian households use milk, 70% use salad dressing, 69% use ketchup,
and 42% use packaged macaroni & cheese.
- Korean Americans are the most ardent coffee drinkers.
- Asians favor Coke over Pepsi and prefer 7-Up over Sprite.
- Farmer John's brand enjoys an exceptional stronghold of this market in the
packaged meat category.
Healthcare/Pharmaceutical
Similar to their non-Asian counterparts, Asians complained of everything from
allergies, high blood pressure, diabetes and high cholesterol to severe stress
and depression.
- Over 20% of Asian respondents reported having at least one household member
who is suffering from high blood pressure.
- The use of health supplements remains incredibly high, especially among Koreans.
- The highest percentage of smokers is found among Korean households.
Movies
Contrary to initial perceptions, Asians enjoy watching movies in a large theater.
More than half of Southern California Asians go out to a theater to see a movie
in a typical month. In comparison, 42% of the total population in the L.A. DMA
went out to see a movie in the past thirty days according to 2001 Simmons National
Consumer Survey.
- 45% percent of respondents watched "Asian" movies such as Crouching
Tiger, Hidden Dragon and Rush Hour 2 at a theater.
- Asians like various genres of movies and especially enjoy action/adventure,
comedy and drama.
- Approximately 70% of Asians responded that they rent English-language videos.
Telecommunications
The Asian market remains well connected with their loved ones making them an
attractive and lucrative market for the telecommunications industry. Their high
propensity for making international calls, frequent use of dial around services
and cellular phone ownership make them a very appealing market.
- The number of frequent international callers making 5+ international calls
a month continues to rise.
- Their use of 10-10 dial-around numbers mimic the current ethnic marketing
patterns. For example, 10-10-345, which was advertised heavily in the Chinese
market only, experienced phenomenal growth among Chinese in contrast to its
dropped usage results among Koreans.
- Asians are more connected than ever through wireless devices. An astonishing
84% of Korean households have a cellular phone with a majority of them having
2 or more cellular phones.
- An analysis of average monthly home telephone bills versus cellular phone
bills reveals that not only do cellular phone bills surpass the amount of monthly
home telephone bills, but that cellular phone usage is growing while the use
of home telephones is declining.
- There is also a phenomenal growth rate in upgrading internet connections from
regular dial up to DSL and cable modems.
Language Preference
- Language preference for interviews: 89% of Chinese chose to be interviewed
in Mandarin or Cantonese as opposed to English, 94% of Koreans and Vietnamese
chose Korean and Vietnamese over English.
- Only 13% of Chinese and Korean respondents said that their HH speak either
all English or predominantly English, and 10% of Vietnamese said the same.
- Therefore, not surprisingly, the study shows that in-language media from TV,
radio, newspapers to internet play a major role in their life. A dominant majority
of them consume in-language media everyday.
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