It’s no surprise that in Collage Group’s recent consumer survey on the economy, a whopping 93% of respondents said they have noticed that items they ordinarily purchase are now more expensive, and 78% said they are “a little” to “very worried” about their current financial situation.
Collage Group’s Asian market research and consumer trends help brands engage Asian American consumers, a fast-growing segment with tremendous buying power.
Fill out the form to download an excerpt of Asian American Cultural Traits, and read the blogs below for the latest multicultural consumer trends.
What are the major characteristics of Asian American Consumers?
Asian American consumers show strong family loyalty and cultural duality – upholding traditions, while also a tending to embrace American culture.
This is an impactful, fast-growing segment with a rich cultural mosaic of values and passion. Asian American buying power in the U.S. surpassed $1.2 trillion in 2019 and is expected to continue to increase beyond $1.3 trillion by 2023. Collage Group Asian market research goes deep into the consumer trends across various Asian American consumer groups, both foreign-born and U.S.-born, including Filipino, Vietnamese, Indian, Chinese and Korean.
The Latest in Asian American Consumer Trends
As prices for everyday items continue to soar, a number of Americans find themselves priced out of buying certain products, and others are able to afford but refuse to pay the steeper costs.
Understanding and embracing multicultural terminology is a key component of connecting with diverse America. This study reports findings from our July 2022 Multicultural Terminology update.
An incredible cultural transformation of the American consumer is now fully underway. Brand after brand sees the massive growth opportunity that 140 million multicultural consumers represent.