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Asian Americans have remained under the radar |
With total buying power in excess of $400 billion, Asian Americans represent the
single most affluent consumer group in the United States. Of all major population
segments in the United States, Asian Americans are most likely to work in managerial
and professional jobs. The median household income of Asian Americans is 15% higher
than non-Hispanic White household income, 56% higher than the median household
income of Hispanics, and nearly double that of Black households. The number of
Asian American families with incomes of $200,000 or more (152,000) is about the
same as Hispanic and African American families combined (156,000).
Yet, despite their affluence, Asian Americans have remained under the radar
screen of many marketers of consumer products and services. This Packaged Facts
report identifies trends in consumer behavior and highlights opportunities to
enable marketers to take advantage of the remarkable buying power of Asian Americans.
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