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Contributions of New Americans in Michigan - May 2024
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Nielsen 2024 Diverse Intelligence Series: Reaching Asian American Audiences
Engaging the Asian American, Native Hawaiian, and Pacific Islander (AANHPI) community is crucial for marketers. To build lasting connections, it's essential to understand their diverse media preferences. Nielsen's recently launched report, "Nielsen 2024 Diverse Intelligence Series: Reaching Asian American Audiences," provides valuable insights for this purpose.
Source: 2024 Diverse Intelligence Series: Reaching Asian American Audiences
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Michigan and ASEAN published by ASEAN Matters for America/America Matters for ASEAN
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2023 U.S. Asian Market Report by Claritas
The release of 2020 U.S. Census data confirms the importance of multicultural consumers to U.S. marketers. Since the 2000 Census, the U.S. non-Hispanic White population has decreased while the population of all multicultural groups has grown significantly. As the facts and figures in this report make clear, Asian Americans represent an important component of this growth. The Asian American population is momentous for many reasons, but perhaps most notably for its rapid growth rate, its rich ancestral diversity and its superior buying power.
Before the pandemic, Asians were already a critical growth driver of the U.S. economy. Their population in the U.S. has grown to over 21.1 million and now represents 6.2% of the total U.S. population. Notwithstanding their relatively small representation in the U.S. population (compared to Black and Hispanic populations), Asians accounted for almost 18% of the U.S. population growth since the 2000 Census. They have been the fastest-growing population segment with 103% growth between 2000-2023.
Ancestral diversity among Asians in the U.S. is quite noteworthy. The largest ancestry groups Asian Americans are Chinese (including Taiwanese) at 23.6%, Asian Indian at 23% and Filipino representing 15.7% of the U.S. Asian population. The U.S. Census Bureau reports population statistics for Asians from more than a dozen other countries (and groups Asians from many other countries together into "Other Asian" categories). This diversity presents opportunities as well as challenges. Asians are often "conveniently" reported as one diverse group; however, each nation is distinct in terms of both language and culture. According to the Claritas Asianicity™ Acculturation segmentation system, around 46% of the U.S. Asian population is acculturated, while 19% are bicultural and 35% are less acculturated and prefer to retain their native cultural heritage and language.
The most compelling business case for engaging Asian consumers is their buying power. Asians are disproportionately present within the upper-income ranks, with more than 50% of Asian households (HHs) reporting income above $100k per year. Median Asian HH median income is $103,903, around 41% above the median HH income for all U.S. HHs. Perhaps the single most convincing data point that could drive economic investment in the Asian American consumer segment is their anticipated spending over their remaining lifetimes. Claritas Consumer Spending Dynamix analysis indicates that the average U.S. Asian household will spend > $1 million more than the average U.S. household over the remainder of their lifetimes.
Mining the quantitative and qualitative data on Asian American consumers can result in the understanding needed to engage this coveted population segment in an authentic manner. Determining which mix of traditional and digital media is key, as Asians tend to be tech-savvy and digitally connected. The ability to link Asian identifiers to cultural preferences and to steer media campaigns towards the appropriate channels and devices will certainly prove worthwhile to your company’s bottom line. To gain a fair share of this increasingly important segment, marketers need to know how, when and where to engage Asian consumers,in-culture and in-language, as appropriate. -
Engaging Asian Americans through media
Report by Nielson in collaboration with Gold House
AANHPI viewers are 79% more likely than the general
population to say they feel underrepresented in TV and films.
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National Survey: ACCESS TO CAPITAL by National ACE
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Asian American Growth in Numbers
There are currently 23.1 million Asian-Americans and Pacific Islanders (AAPI) living in the U.S. The Asian-American population grew 46 percent in the past 10 years, representing the fastest-growing ethnic or racial segment in the U.S. In comparison, the total U.S. population grew 8 percent and non-Hispanic whites saw a 1 percent decline in their population during this same period. Continued exponential growth is expected in the Asian-American population, as the U.S. Census projects a gain of 21 percent by the year 2025.
View Neilson Report: Engaging Asian American Consumers at the Dawn of a New Decade
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Asian-American influence continues to rise
From food to technology to entertainment, Asian-American influence continues to rise in the U.S. and is spanning across the country. Still the nation’s fastest-growing population segment, Asian-Americans are about 20.5 million strong and represent 6% of the U.S. population. From 2009-2014, the Asian-American population grew 25%. With immigration from Asian countries continuing to boost the American population, U.S. Census projections show the Asian-American population will reach 25.7 million by 2019. Increasingly diverse, Asian-Americans will outnumber U.S. Hispanics by 2055 according to U.S. Census Bureau projections...Read more...
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PEW Research and the Nielsen Report
Asian Americans and Pacific Islanders are projected to become the largest immigrant group in the United States by 2055, according to Pew Research. AAPI buying power has grown 222 percent, to $891 billion, since 2000, according to the Nielsen report. In addition to consumer behavior, the report found that AAPI women are majority or equal owners in 43 percent of AAPI-owned businesses.
Asian-American Female Buying Power, Influence Rapidly Growing: Nielsen Report. May 8, 2017.
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Key Facts about Asian Americans, a Diverse and Growing Population
The U.S. Asian population is diverse. A record 20 million Asian Americans trace their roots to more than 20 countries in East and Southeast Asia and the Indian subcontinent, each with unique histories, cultures, languages and other characteristics.
The 19 largest origin groups together account for 94% of the total Asian population in the U.S. New fact sheets for each of these Asian origin groups accompany this blog post. Each describes key demographic and economic characteristics of each group.
Here are some key findings about the nation’s Asian-origin population: The U.S. Asian population grew 72% between 2000 and 2015 (from 11.9 million to 20.4 million), the fastest growth rate of any major racial or ethnic group. By comparison, the population of the second-fastest growing group, Hispanics, increased 60% during the same period...Read more...
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Recent study on Social & Demographic Trends
According to the Pew Research Center in a recent study on Social & Demographic Trends titled, "The Rise of Asian Americans", Asian Americans are the highest-income, best-educated and fastest-growing racial group in the U.S, with Asians now making up the largest share of recent immigrants. The survey finds Asian Americans are more satisfied than the general public with their lives, finances and the direction of the country, and they place a greater value on marriage, parenthood, hard work and career success.
To view the full report, please click here. To view a brief overview with graphics, please click here
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Asian Groups in the U.S. 2015
