Consumption Junction

new e ffers CONSUMPTION JUNCTION se Six FRE FREE What's your function as Asian American consumers? Writer Lisa Wong Macabasco Illustrator Linda Sarah HAMIO $459 → Total annual Asian purchasing power in 2007. That exceeds the Gross Domestic Product (GDP) of all but 17 countries in the world in 2007. Asian American BILLION purchasing power grew WHICH KIDS GET ALLOWANCE? Asian Americans have the most 71% discretionary income ($25,400) of all ethnic groups, compared to $20,800 for whites, and $15,200 for blacks. 62% Asian Americans (average: $13.70) 58% Hispanics ($12.20) 56% African Americans ($11.30) between 54% Whites ($9.20) 2000 and 2007. Sources: Selig Center for Economic Growth, The University of Georgia, May 2007; U.S. Multicultural Kids Study 2004; Cultural Access Group Bureau of Labor Statistics; Selig Center for Economic Growth, third quarter 2007. Asian Americans NEARLY 1/3 visit eluxury.com at a rate of over 78% of Asian Americans consume both ethnic (in-language) and English media. of Asian Americans THE ARSOLUTELY VERYTHINS STORE SHOES, SOCKS Boo FILMS SIX TIMES MORE than the average shop at a department store at least AND STEC 12% consume SOLELY ETHNIC MEDIA TACLES Internet user. 1-3 TIMES A WEEK. 28% are Korean 26% of Asian Americans buy what they think their white neighbors will approve of, compared. to 12% for Hispanics and blacks. Print has the highest ranked penetration across all ethnic segments, with the exception of Filipino (who consume television at a higher rate). ASIANS OTHERS Asian Americans who prefer ethnic media to mainstream media-the lowest rate of all minority groups. Shop at ethnic markets for non-food items: 35% 8% Shop online: 32% 18% Shop in department stores: 45% 30% Shop in convenience stores: 39% 24% First-generation Asian American youth prefer POP or TOP 40. Second-generation youth tune into HIP-HOP and ALTERNATIVE music. Do home shopping (TV or catalog): 18% 9% Three areas where Young Asian Americans are influencing American trends: Shop at discount warehouse clubs: 48% 36% Sources: Quantcast.com; InterTrend Knowledge Center study 2006; Mintel/Greenfield Online, October 2007 $138 > technology/gadgetry > anime/manga and > video gaming The number of Asian Americans shopping online doubled between 2005 and 2006. Average online shopping expenditure in the last 12 months $180 $230 The top products purchased online among Asian Americans are apparel and books. Second-generation Asian American youth are twice (2005) (2006) as likely than their first generation counterparts to Average online spending in the Vietnamese segment increased dramatically from $180 in 2005 to $230 in 2006. I bought everything learn about trends via word of me to! mouth. First-generation Asian American youth turn mostly to deliver nd beeks me Source: InterTrend 2006 study booghel TV to learn about new trends. this cleud fron amazon 020 HYPHEN WINTER.08 RETAIL PURCHASING POWER ONLINE SHOPPING eY RecAST MEDIA