Asian American Consumers – Highly Informed Influencers & Powerful Purchasers
By Bryan Lee, Senior Sales Manager, Ethnic Technologies
Flourishing Asian American market is now an understatement. Reports show that Asian Americans’ buying power surpassed $1 trillion in 2018 and the hit film Crazy Rich Asians made history by being the highest-grossing romantic comedy film in 10 years. It’s now crucial that marketers need to open their eyes to this fastest growing market with highest purchasing power. With over 19 groups of Asian origin living in the US, age and language preference is not the only factors that are important. One key factor to consider when marketing to Asian Americans is their age. Understanding younger generations of Asian Americans’ social preferences is key, such as their predilection for WeChat, Kakaotalk and Line over other messaging apps like iMessage or Whatsapp. If you’re aiming to connect with older Asian Americans, your messaging will be more effective if it’s in their native tongue. Brand loyalty and an appreciation for quality are common traits across all Asian American groups, so ensure that your product effectively conveys the value your brand offers. It takes effort to get to know an audience and what motivates them to purchase, but marketers who design campaigns to reach specific segments of the Asian American market will find the results well worth it in 2020.
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