The average income of Asian American households is 28% higher than the US population average ($63,420 vs. $49,580) according to Nielsen’s “State of the Asian American Consumer” report, released in November. In fact, 28.1% of Asian American households have incomes higher than $100K, compared to just 18.2% for the US as a whole. In volume, the number of Asian American households with incomes greater than $100k (1.39 million) rivals the number of African-American households (1.45 million) and Hispanic households (1.78 million) with that level of income.
The Asian American population not only sports high incomes, but is also the fastest growing multicultural segment of the US population, experiencing a 51% increase in size since 2000. That’s slightly more rapid than the Hispanic population’s growth rate (50.6%), and far outweighs growth rates for African-Americans (14.5%) and the population at-large (11.3%).
The Asian American population is not homogenous, of course, however 86% of Asian Americans originate from China, India, Philippines, Vietnam, Korea and Japan. Chinese represent the largest group, at 22%, followed by Asian Indians at 19% and Filipinos at 18%. Citing US Census data from 2010, the report finds that at present, immigration appears to be highest among Chinese Americans, with a foreign-born percentage of 76%, compared to just 32% among Japanese Americans.
Asian Americans skew very high for smartphone penetration, at 70% versus 55% for the total population, and they also show an above-average tendency to visit computer and consumer electronics websites, doing so 36% more often than the total population, and spending 72% more time on those sites. Overall, they view about 3600 web pages per month, which is roughly 1000 pages higher than any other demographic group.
What this means is that as a segment, the Asian American demographic is, as you can see, becoming more and more influential, and while they are not homogenous, they need to be catered to. More Video, and more apps as well as more content directed and dedicated to smartphones and other smart devices.
The Data: Gathered from Nielsen sources including Nielsen Panel May 2012 data, Nielsen Pop-Facts Premier 2012, and Nielsen’s Homescan survey, as well as US Census data for 2010.