Copyright © 2019 The Nielsen Company (US), LLC. All Rights Reserved.1Copyright © 2019 The Nielsen Company (US), LLC. All Rights Reserved.DIVERSE INTELLIGENCE SERIES | 2019INFORMED INFLUENCERS AND POWERFUL PURCHASERSThe Asian American Consumer JourneyCopyright © 2019 The Nielsen Company (US), LLC. All Rights Reserved.2EDITOR’S NOTEFor the purpose of this report, Asian American is defined to include all who identify on the U.S. Census as Asian, Native Hawaiian or Pacific Islander, whether alone or in combination with some other race. As noted in the methodology section of this report, the sample design of our research is not managed in Asian languages; however, as a result of our efforts to accommodate non-English-speaking respondents, our panelists include English- and non-English-speaking populations.Mariko Carpenter VP, Strategic Community AlliancesMia Scott-Aime VP, CommunicationsPREFACEA lot has happened for the Asian American community in the last year. We packed theaters to cheer on “Crazy Rich Asians,” lauded for its Asian representation and cried over Oscar-winning short film “Bao,” helmed by Pixar’s very first Asian director. Hasan Minhaj and Lilly Singh made late-night history by signing on to host their own shows and Sandra Oh’s declaration at the Emmys, “It’s an honor just to be Asian” became an iconic statement now seen on T-shirts and mugs. New York Fashion Week presented its first-ever all-Asian runway show by designer Claudia Li; K-pop hit No. 1 on the Billboard album chart with “Love Yourself: Tear” by BTS; and a Hmong-American baby beat out 544,000 others to become the 2019 Gerber Baby of the Year. In November, we saw a record number of Asian American Pacific Islanders up and down the ballot and in January, Congress swore in a record number of Asian American Pacific Islander elected officials. These headlines represent moments of pride for Asian Americans, a community that has grown to embrace the diversity within it, while harnessing the power of its unified voice. It is a community that is evolving with a rise in U.S.-born Asian Americans who move fluidly in and out of their cultural, ethnic and American identities. More than ever, Asian Americans are leaning into their cross-cultural identity; from influencer Eva Chen speaking Chinese to her parents in an Instagram story to Hasan Minhaj devoting an episode of his show Patriot Act on the political election in India. These dramatic cultural changes are impacting the behavior of Asian American consumers who have become a key force in shaping America’s mainstream.As the fastest-growing ethnic or racial group in the U.S. with a buying power that reached $1 trillion in 2018, Asian Americans have become a burgeoning consumer segment for marketers. From manufacturers to retailers, content creators to distributors, understanding the cultural drivers of behavior is essential for marketers to exercise empathy and establish real connections with Asian American consumers. We have seen all too often, the costly consequence of brands not getting the marketing right, leading to disasters of epic proportions for those businesses. In the pages of this year’s Asian American consumer report, Informed Influencers and Powerful Purchasers: The Asian American Consumer Journey, marketers will find valuable insights on how cultural heritage impacts decision-making and behavior for this young and influential group. The report is framed in the context of the ever-evolving path to purchase so that marketers can hone in on touchpoints that are relevant, impactful and effective to building an authentic and sustainable connection. We hope that insights on these pages will serve as a strong foundation for increasing the collective cultural IQ of the marketplace to best meet the needs of Asian American consumers.We are in the midst of a seismic demographic shift in this country, and it is increasingly evident that winning with Asian Americans, and in fact all Multicultural Americans, will be imperative for all brands to drive relevance and growth in the future.Copyright © 2019 The Nielsen Company (US), LLC. All Rights Reserved.2Copyright © 2019 The Nielsen Company (US), LLC. All Rights Reserved.3Copyright © 2019 The Nielsen Company (US), LLC. All Rights Reserved.EXECUTIVE SUMMARYAsian Americans today represent one of the biggest growth opportunities for brands and content creators in America. They have more household income, are more aspirational and present more opportunities for advertisers to reach them with culturally relevant messaging.At 22.6 million strong, Asian Americans have spending power that rose to $1.0 trillion in 2018 and is expected to reach $1.3 trillion by 2023, with a powerful long tail of younger and bigger spenders. Thus, over the next decade and well beyond, Asian Americans will offer an unparalleled marketing opportunity for businesses and brands.Asian Americans have the highest growth rates in population and spending power of any U.S. ethnic or r...
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