Marketers to Target High-​Income Asian-Americans

African-​Americans and Hispanics have been the target of separate ad budgets and campaigns for a while now. But there’s a new kid on the block. The Asian-​American demographic is growing rapidly. In addition, this demographic group has a unique feature that many marketers desire — higher than average household income.

With more than 15 million Asian-​Americans living in the U.S., demographers say this is the fastest-​growing minority group and it now accounts for 5.8% of our population. The top countries represented by Asian-​Americans are China, India, Philippines, Vietnam, Korea and Japan. Marketers will want to know that the foreign-​born rate is highest among Chinese-​Americans. 76% of the members of is subgroup are first-​generation immigrants.

Asian-​Americans have a median household income of $63,420, but 28% have income that exceeds $100,000. These consumers enjoy spending their disposable income and they're especially adept at using technology to find what they’re looking for.  At least 70% of these consumers have smartphones. And, they use smartphones and other connected devices to view Web pages at a much higher rate than average consumers.

Businesses that sell baby food, dried grains, and cold juice should make a point of targeting Asian-​Americans who over-​index on these categories. These consumers also go to the store more frequently than other groups and make great candidates for repeat targeting.

To learn more about Asian-​Americans, check out the Audience Interests & Intent report available on the Research Store at ad​-ology​.com.

[Sources: State of the Asian American Consumer. Nielsen. 2012. Web. 25 Nov. 2012; Semple, Kirk. In a Shift, Biggest Wave of Migrants. NYTimes​.com. 19 Jun. 2012. Web. 29 Nov. 2012] 
Kathy Crosett
Kathy is the Vice President of Research for SalesFuel. She holds a Masters in Business Administration from the University of Vermont and oversees a staff of researchers, writers and content providers for SalesFuel. Previously, she was co-​owner of several small businesses in the health care services sector.