Asian Americans are a growing audience that brands should heighten their focus on, according to insights from research firm Nielsen.
Mariko Carpenter, Nielsen’s vp/strategic community alliances, told delegates at the 2020 Virtual Asian Marketing Summit, an event held by the Asian American Advertising Federation (3AF), that:
- The Asian American and Pacific Islander (AAPI) community in the US will control $1.3 trillion of spending power by 2022, up from $1 trillion in 2019.
- There are an estimated 23.1 million AAPI people in the US. And that total is anticipated to rise further.
- Sixty-nine percent of AAPIs are between 13 and 34 years old - and 86% of the AAPI community born in the US are below 18 years of age.
The big idea
“There’s a signal that says we are a consumer segment that marketers really can no longer afford to ignore,” Carpenter said.
Sourced from WARC