Sunday, June 4, 2017

Report: Asian/American women are trendsetters, influencers

ASIAN/AMERICAN women are a marketer's dream target. A new report from Nielsen says that Asian/American women's buying power is greater than the coveted Millennials and greater than all but 18 countries.
As a result, Asian/American influences are having a profound and recognizable impact on the country’s mainstream culture. At the helm of this influence, are Asian/American women.
Despite reports of poverty and studies showing that Asian/American women make less than their white counterparts, and the bamboo ceiling blocking employment advancement, marketers still say AA women are the group to watch. It makes one wonder if a new stereotype is being created for Asian/American women to go along with the subservient sex slave and the Dragon Lady?
Neverthelesss, according to Asian American Women: Digitally Fluent with an Intercultural Mindset, a Nielsen report released May 8, at an average age of 36, Asian American females are overwhelmingly multilingual, diverse and have a cross-cultural mindset firmly rooted in the values and traditions of their native countries.
For marketers and advertisers, this combination of youth, digital fluency and an intercultural mindset, makes Asian/American women a powerful consumer segment. The recent Korean beauty phenomenon is a perfect example of Asian/American women’s digital influence. What began as passionate consumers posting on social channels, exploded into magazines and has ultimately influenced store shelves. 

According to the annual report, Asian/American women are tech-savvy jetsetters. This group is in a constant state of discovering new content and consumer products as they travel the world, juggle family and pursue professional goals. At work, 39% of Asian American women are entrepreneurs, and 46% say their goal is to make it to the top of their profession. When it comes to spending, they’re not afraid to demand brands and products that support and speak to their values or personal goals: setting the stage for trends that are yet to hit the mainstream marketplace.

RELATED: PEW report on Asian/Americans
“For brands, this fast-growing, young and digitally fluent consumer segment's ability to influence trends can not be ignored,” said Mariko Carpenter, vice president, Strategic Community Alliances, Nielsen. “Asian/American females are the group to watch. At 19%, Asian/American women comprise the largest group to immigrate to the United States between 2010 and 2015. Highly educated and adventurous—Asian/American females are not only discovering new products and experiences as they explore the world, but they are also using social media to create shareable content that influences the marketplace.”

This new report is part of Nielsen's ongoing efforts to provide insights that help marketers better understand and serve Asian/American consumers, who are the fastest growing U.S. racial group, having increased 47% in population growth the last 10 years. This report is the first of the three-part 2017 Diverse Intelligence Series that will focus on women of color, with the Latino and African/American installments being released later this year.

“Nielsen continues to prove it is the definitive source of data and insights on consumers of color,” said Sharmila Fowler, member, Nielsen Asian Pacific American External Advisory Council. “Culturally relevant data about our multifaceted community are a vital tool for delivering better products, services and content to Asian Americans. This is why it is so important for consumers of color to say ‘yes’ if the opportunity to participate in a Nielsen survey or panel arises.”

Highlights of the Nielsen report:
Ambicultural with an Immigrant Edge
  • The U.S.-born Asian/American female population is growing faster than the foreign-born population, with 60% growth vs. 43%, respectively, since 2005
  • 78% of U.S.-born Asian/American women are age 34 or younger
  • About half of all U.S. foreign students are from China, India and South Korea
  • 16% of Asian/American females ethnically identify as two or more races

Savvy Shoppers
  • 76% of Asia/ American women will pay for a brand they trust, even if it is slightly more expensive
  • 71% try to buy foods grown locally where they live
  • 42% used natural or organic beauty products in the last 12 months (10% higher than non-Latino white women)
  • 54% of Asian American women have traveled outside the continental U.S. in the last three years, which is 67% higher than non-Latino white women
  • 12% took a foreign business trip during the last three years (2.6 times the percentage of non-Latino white women)
  • 14% took a domestic business trip in the last 12 months (55% more than non-Latino white women)
Tech and Digital Content Mavens
  • Asian/American women have the highest smartphone penetration of any racial or ethnic group in the U.S.
  • Asian/American women over-index against the total population for computer, tablet and video game ownership
  • 83% of Asian/American women have used a social networking site in the past 30 days, with Snapchat having the highest reach, over-indexing by 23% compared to total women
  • Asian/American women over-index on communication apps such as Skype, GroupMe, WhatsApp and Hangouts
  • 66% of Asian/American females use online banking, 22% higher than the total adult population
For more details and insights, download Asian American Women: Digitally Fluent with an Intercultural Mindset.