Interep: Growing Consumer Clout Of Asian-Americans.
July 13, 2001
Interep released a report on the growing U.S. Asian-American market, which approached 12 million in Census 2000. (This figure includes those who listed more than one race, allowed for the first time in the 2000 census.) Among those listing Asian or Pacific Islander as their sole race, the number grew almost 50% since the 1990 Census. Moreover, this number is expected to increase another 50% by 2010.
As a consumer group, Asian-Americans are attractive advertising targets. According to the Interep analysis:
— 32% of Asians have a household income over $75,000, compared to 23% of total Americans.
— Asians enjoy the highest family median income – $51,205 – of all racial/ethnic groups, including non-Hispanic whites.
— 44% of Asians hold a bachelor’s degree, compared to 26% for all U.S. adults over age 25.
— They are 40% more likely to work in professional/managerial roles than the average U.S. adult.
— Asian-Americans show above average usage for a variety of products and services, as shown by the following indices:
— Spend over $150 groceries average week: Index 147
— Own laptop computer: Index 161
— Heavy foreign travel: Index 149
— Own DVD Player: Index 172
— Frequent Movie Goers: Index 132
— Have American Express Card: Index 143
The U.S. Asian population remains highly concentrated, with almost half in the top 5 Asian metropolitan areas. While nationally they comprise 4% of the population, some states such as California and Hawaii have a substantially higher proportion of Asian residents. On a market basis, Asian-Americans represent 17% of the San Jose metro, 11% of the San Francisco metro and roughly 5% in Los Angeles, Washington D.C. and Seattle, according to Scarborough research.
Because of these large Asian-American pockets, the most efficient way to target Asian consumers is often through localized media, such as spot radio. According to Michele Skettino, VP/Marketing Communications, “Advertisers can effectively use radio in key Asian markets to add support to their general market campaigns, whether through targeted creative, or promotional events tied to the local Asian community. As with all ethnic-marketing initiatives, brands that take the time and money to speak to a given community are often rewarded with high consumer loyalty for their efforts.”
For more information at http://www.interep.com.
