According to this article, the buying power of us Asian Americans is close to $600billion. Additionally, Asian American households are more affluent than any other population group in the country. We are digitally savvy and are more likely to use new media (ie: online mediums of communication).
This article also states that hunting for bargains is a key aspect of the Asian-American consumer profile yet we “possess an above average penchant for shopping”. Thus, we aren’t shy about making high-end purchases. As a side note, who doesn’t like a good bargain?
So what does all of this mean? Are we an untapped, lucrative market for marketing and advertising? Will we be seeing more ads and marketing campaigns specifically geared towards Asian Americans? What would an ad geared towards Asian Americans look like anyhow? Let me guess… an Asian girl and a White guy shopping at Tiffany & Co. for an engagement ring?
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Violet is a guest blogger for GOProductionsLA. She’s a twenty something, Asian American chick livin’ up the party life in Los Angeles. Find her at Cabana club on Fridays and the newest restaurants and bars every other day of the week. If you’d like a fresh perspective, have a topic you’d like to see discussed or if you’d like to buy her a drink, email Violet : Violet [at] GoProductionsLA.com
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I have a comment I would like to make…I realize this site is geared towards a specific niche of Asian Americans namely Far Eastern Asians such as Chinese, Korean, Japanese, and Vietnamese in particular. What you fail to mention is the preponderance of Asian Indian economic power that is included in this group. Asians from India, and Pakistan happen to possess a tremendous amount of the affluence mentioned here which other non Indian Asians may or may not take credit for. Furthermore what is the problem with an Asian girl and a White guy shopping at Tiffany’s ad? Should we go back to separate drinking fountains Violet???
Comment by tokenwhiteguy — October 16, 2008 @ 4:04 pm
^^ Hi Token White Guy,
The article I linked to does mention, “This includes special data analyzed from New American Dimensions (NAD) focusing on Asian Indians, a population at the pinnacle of the economic pyramid within the Asian-American segment”. But for the sake of my post, I didn’t list the different types of Asian Americans, as all of that is listed in the original study.
As for Asian girls and White guys… What I meant was: unfortunately, that seems to be the stereotypical media stance and marketing ploy. But the whole Asian girl/White Guy, White Girl/Asian Guy, Asian Girl/Asian Guy relationship stereotype is another post for another day…
Comment by admin — October 18, 2008 @ 3:56 pm
Thanks for the clarification there admin. I will continue to post my two cents on this site serving as a beacon of balance in this cultural forum that is goproductionsla.com blog.
Comment by tokenwhiteguy — October 19, 2008 @ 10:56 am
i believe we are untapped because advertisers don’t know how to market to us. although we are categorized as one demographic, the similarities between what makes us actually go out and spend our hard earned dough differs from culture to culture. short of making a commercial for every Asian ethnicity, we will continue to be unsuccessfully approached by the marketing machines of America.
Comment by shokase — October 20, 2008 @ 1:52 pm