Too many businesses are overlooking the fact that Asian Americans are, “the fastest-growing multicultural group in the U.S. with a buying power of $1.2 trillion,” according to a recent report by Nielsen. It’s time for brands to begin representing this demographic in their advertisements in order to build rapport with such a thriving consumer group.
The best place to reach Asian Americans with brand messages is through their devices. “Asian Americans have always led the way with digital adoption,” says Nielsen. Asian American use of digital devices and services has either grown or remained steadily high. For example, between March 2019 and March 2020, Asian American ownership of enabled smart TVs, internet connected devices, internet enabled TV-connected devices and subscription video on demand have all risen. Smartphone and computer ownership has remained steady at 97% and 89%, respectively.
Overall, the devices that are owned by the highest percentages of Asian Americans are:
- Smartphones: 97%
- Internet Enabled TV-Connected Devices: 90%
- Computers: 89%
- Tablets: 72%
- Enabled Smart TVs: 65%
“As early digital adopters, Asian American consumers can help deliver an immediate sales boost for those digitally savvy brands who make the effort to target them where they are,” says Nielsen.
Nielsen urges that advertisers not overlook the potential impact ads on video streaming services have when targeting these consumers. For starters, Nielsen found that, for most of these households, subscription video on-demand services are an absolute must-have. Not only that, “Asian American households are often multigenerational, and they’re the most likely to include family members who stream content with another person.” So, ads on this medium are reaching more people at a time than companies may have previously thought.
Is it worth it for your client to target Asian Americans in their specific market? Head to the Demographics section of the Market Intelligence data on AdMall by SalesFuel to find out. There are 49 Market Intelligence Categories surrounding this demographic, where you can learn what percentage of your market this demographic makes up, their average income, and more.