Asian American consumers control substantial
collective buying power, but cannot be addressed as one group. Because there
are multiple languages and multiple generations to address, promoters of luxury
goods to Asian audiences would do well to focus on a particular Asian subgroup.
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Scope and Themes
What you need to know
Definition
Data sources
Consumer survey data
Advertising creative
Abbreviations and terms
Abbreviations
Terms
Executive Summary
Market factors
Asian population holding steady,
accounts for nearly 5% of all Americans
Asian immigration overtakes Hispanic
immigration, and most become citizens
Asian population is aging, but
average age is younger than general U.S. population
Asians are the most likely to marry
of any population group
Asians generally live in larger
households than most consumers, intermarriage increasing
Asians are generally more educated
than the average consumer, Indians most educated
Asians, mostly Indian, enjoy high
rates of employment in remunerative fields
Asians (Indians, in particular)
enjoy higher incomes than consumers of any other ethnicity in the U.S.
Asian buying power sums to a
significant share in Hawaii and California
The consumer
Luxury means exclusivity and
craftsmanship
Figure 1: Consumer definitions of
luxury purchases, March 2013
Asian Americans are huge discount
seekers when buying luxury goods
Clothing, accessories dominate
luxury purchases among Asian Americans
Figure 2: Luxury/Designer brands
purchase categories, by gender, March 2013
Asians purchase luxury goods once a
quarter, women more often than men
Asian Americans have mixed feelings
about flaunting their luxury brands, but most will not adjust their spending
Figure 3: Attitudes about
luxury/designer brands, March 2013
Younger Asian consumers buy luxury
goods to treat themselves and to look good, while a majority are driven by
quality and craftsmanship
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