Saturday, November 1, 2008

Marketing to Asian-Americans

An article in the September 2008 issue of Deliver magazine (a publication produced by the United States Postal Service to encourage direct mail marketing) highlighted the relevance of the Asian-American market as a demographic segment.

Author Vicki Powers writes:

Although Asians only represent 5 percent of the U.S. population, they are among the most educated and affluent U.S. consumers. But the Asian-American market, with its multiple sub-groups and diverse languages, remains a challenge to most marketers.

Asian Americans are one of the youngest slices of the U.S. market. Census figures show that the median age among Asian Americans is 34.8 years. Meanwhile, the rest of the U.S. population has a median age of 36.2 years.

Though they are largely concentrated in three states -- California, Texas, and New York -- Aisan American consumers nonetheless wield significant spending power. According to a University of Georgia study, Asian Americans spent $459 billion on products and services in 2007.

Asian Americans tend to be among the most educated individuals in the U.S. About 48 percent of Asian Americans have earned a bachelor's degree.

They are also among the most affluent Americans, with a median husehold income of $63,900.

If you work with clients virtually, Asian Americans are an excellent target market, because they are extremely technologically savvy as a group. Nearly 52 percent of Asian American adults who use the Internet bank online.

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