,1,Numbering over19 million in 2019,Asians represent 5.6% ofthe U.S. population andare the fastest-growingpopulation segment since2000.,The face of America is changing, and multiculturalconsumers already represent the majority of theexpected growth in the United States now and inthe future.In this second report of the Claritas New AmericanMainstream series, well identify the Asian Americansegment in great detail, especially their populationgrowth, household income and cumulative lifetimespending within key categories.Currently, more than 19 million Non-Hispanic Asian &Pacific Islanders live in the United States, makingthis group the fastest-growing population segmentsince 2000, with 84% growth.Continue reading to understand why this is a groupthat marketers cant afford to ignore.,The Asian American Market Report:Understanding The New American MainstreamPart 2 Feb 2019,2,Executive SummaryThe Asian American population is momentous for many reasons, but perhaps most notably due toits growth rate, buying power and ancestral diversity. American marketers would serve theircompanies well by understanding the demographic, economic, cultural and buying trends of Asiansin order to fully-capitalize on the opportunity they represent.Numbering more than 19 million in 2019, the Asian population represents 5.6 percent of the U.S.population, but about 21 percent of population growth since 1990. When you consider that thereare seven Asian cities with greater than 19 million population worldwide (Tokyo, Delhi, Shanghai,Guangzhou, Beijing, Shenzhen and Wuhan), it is clear to see how an immigration wave towards theU.S. could create a new surge in Asian Americans.Ancestral diversity among Asians in the U.S. is quite noteworthy. Whereas two-thirds of U.S.Hispanics are of Mexican origin, the largest single ancestry group among Asian Americans isChinese at 23 percent, followed by Filipinos and Asian-Indians at 18 percent each. This diversitypresents opportunities as well as challenges. Asians are conveniently included in one diversegroup; however, each nation is distinct in terms of both language and culture. Although manyAsians in the U.S. are acculturated, 62 percent retain their culture of heritage (Asianicity) at least toa modest degree.The most compelling business case for engaging Asians is buying power. Average Asianhousehold income in 2019 is $116,319, which is 36 percent greater than overall household incomeand even 22 percent greater than White household income. Furthermore, Asians aredisproportionately present within the upper income ranks. As youll see in this report, 13.4 percentof Asian households will earn more than $200,000 in 2019 a far greater proportion in that stratathan any other major cultural segment.Perhaps the single most convincing data point that could drive economic investment in the AsianAmerican consumer segment is their anticipated spending over their remaining lifetimes. Claritasanalysis shows that on average, todays Asian household will spend $1.2 million more than non-Hispanic White households over the remainder of their lifetimes.Mining both the quantitative and qualitative data on Asian Americans will yield the understandingneeded to genuinely engage this coveted population segment. Determining which mix of traditionaland digital media is key, as Asians tend to be tech-savvy and digitally connected. The ability to linkAsian identifiers to cultural segments and to steer media campaigns towards the appropriatechannels and devices will certainly prove worthwhile to your companys top and bottom lines.César M. Melgoza,U.S. Asian & Pacific Islander2019 Population Facts,Currently, there are 133,211,770 multiculturalAmericans in the U.S. and they account for37.5% of the U.S. population.Although Non-Hispanic Asian & PacificIslanders account for the smallestmulticultural segment at 5.8%, they were thesecond fastest growing ethic group at 20.61%.,3,62.5%,12.2%5.8%19.5%,37.5%,Non-Hispanic All Others,13.06%,75%50%25%0%,100%,35.30%40.75%13.51%10.44%Growth 1990-2000,55.77%14.56%16.60%Growth 2000-2010,Non-Hispanic Asian & Pacific IslanderHispanic,Non-Hispanic BlackAll Other Non-Hispanic,Source: U.S. Census Bureau for 1990-2010 and Geoscape AMDS 2019,Since 2010, Asian Americansrepresent the second-fastestgrowing ethnic group afterHispanics.Population Growth 1990-2019,68.02%12.03%20.61% All Other non-Hispanic: - 0.66%Growth 2010-2019,Non-Hispanic BlackNon-Hispanic Asian & Pacific IslanderHispanicSource: Geoscape® AMDS 2019,4,The Asian AmericanPopulation Grew84% from2010-2019 to Reach Nearly19.17 MillionToday, 19,169,385 Non-Hispanic Asian & PacificIslanders live in the United States. Non-HispanicAsian & P. Islanders have been the fastest-growingpopulation segment since 2000, showing 84%growth. Virtually all of the growth now and into theforeseeable future will emanate from groups otherthan the traditional “majority” Non-Hispanic Whitepopulation.Growth During 20 Year Period 2000 - 2019Source: Geoscape® AMDS 2019Into the Future: The Multicultural Boom 2019 - 2024Nearly all of the U.S. population growth since 2000 has come from multicultural segments, and thattrend is likely to continue in the future. The Non-Hispanic Asian & Pacific Islander populationcontinues to show significant growth, thus representing one of the biggest opportunities formarketers to grow their businesses in the future.Source: U.S. Census Bureau for 1990-2010 and Geoscape AMDS Projections for 2019-2024.,Percent Population,5,75.8%,69.1%,63.7%,62.6%,60.5%,20%10%0%,50%40%30%,70%60%,80%,11.8%8.8%2.8%1990,12.0% 12.5%3.7%2000,16.3%12.2%4.8%2010,19.6%12.2%5.6%2019,21.1%12.2%6.1%2024,N-Hispanic All Others,N-H Black,N-H Asian & PI,Hispanic,By 2024, Non-Hispanics Asianand Pacific Islanders will reachmore than21.5 MMpersons in the U.S.Hispanics and Asians are becoming a largerportion of our nations population. The Blackpopulation is growing, but is nearly constant as aproportion of the total population. Meanwhile, theNon-Hispanic White population proportion hasbeen declining steadily as a proportion of overallAmerican population.Percent of the U.S. Population: 1990-2024,Source: U.S. Census Bureau for 1990-2010 and Geoscape AMDS Projections for 2019-2024.,Percent of Total Generation Cohort,80.1%,75.2%,64.4%,50.5%,41.5%,12.9%,5.6%13.4%,0.7%7.8%3.8%7.6%,0.5%9.9%5.0%9.4%,1.5%16.1%6.0%12.0%,3.2%25.3%8.1%,7.4%32.1%,0%,10%,40%30%20%,60%50%,100%90%80%70%,Age 75+,Boomer 1946-65 Gen X 1966-80 Millennial (Gen Y)1981-97,Age 0-4,6,Source: U.S. Census Bureau for 1990-2010 and Geoscape AMDS Projections for 2019-2024.,Generational Population2024 - Nationwide,By 2024,8.1%of the U.S. millennial populationwill be Non-Hispanic AsianYounger age groups are made up from a morediverse population while older age groups tendto be less diverse. This dramatic trend inethnicity by generation will have deepimplications for marketers in the years anddecades to come.,Non-Hispanic OtherHispanicNon-Hispanic AsianNon-Hispanic BlackNon-Hispanic White,San Francisco,Los Angeles,Washington, DC,Seattle-Tacoma,New York,Minn.-St. Paul,Philadelphia,Sacramento,San Diego,Las Vegas,Baltimore,Houston,Honolulu,Chicago,Portland,Phoenix,Boston,Atlanta,Detroit,Dallas,7,%6050403020100,persons, million1086420,Asian Population, 2019,% Growth, 2010-2019,Source: Geoscape® AMDS 20192019 U.S. Asian Population Distribution by DMA (excluding Pacific Islander)Source: Geoscape® AMDS 2019,Where Does the Asian Population Live?Asian population segments are concentrated in Los Angeles, New York, San Francisco, D.C.,Chicago and Seattle. Their presence in many other areas is growing as well with significant growthin Houston, Dallas, Atlanta, Las Vegas and Phoenix.Top 20 DMAs By Asian Population vs. Growth (2010-2019),8,The map to the left illustrates the heavyconcentrations of residential Asianpopulation in certain census tracts inand around Washington D.C.The difference between Workday andResidential populations reveals areaswhere day time population significantlyincreases and areas desirable forlocating retail and service establishmentsto serve the working population. Theareas in red show places where Asianscommute to for work.,Asian Population - Washington D.C. 2019Source: Geoscape® AMDS 2019Asian Workday Population - Washington D.C. 2019Source: Geoscape® AMDS 2019,Asian Population & Workday Population: D.C. 2019,Asian Households & Workday Population: Seattle 2019,9,The map on the left illustrates theheavy concentration of residentialAsian population in certain censustracts in Seattle.The areas in red show places Asianscommute to for work, whereas thelighter areas show places whereAsians commute from.,Asian Population - Seattle 2019Source: Geoscape® AMDS 2019Asian Workday Population - Seattle 2019Source: Geoscape® AMDS 2019,Annual HH Income (Dollars),10,$60,194,$70,727,$43,966,$91,414,$51,747,$40,000$30,000$20,000$10,000,$80,000$70,000$60,000$50,000,$100,000$90,000,White,Black,Asian & P.Islander,Hispanic,$0TotalSource: Geoscape® AMDS 2019,The Average U.S. Asian Household Makes $116,319(a Whopping 36% More Than Other U.S. Households)The most compelling business case for engaging Asians is buying power. Compared to the overall2019 median annual household income, the median Asian household income is highest, followedby Whites, Hispanics, and Blacks. Median Asian HH Income is more than 50% higher than for totalU.S. households. Average Asian household income in 2019 is $116,319, which is 36 percent greaterthan overall household income and even 22 percent greater than White household income.Median Annual Household Income,Source: Geoscape® AMDS 2019,Household Counts (MM) & Percent's by Income Range,11,0.4 (2.5%)0.6 (3.6%)1.6 (10.4%)1.5 (9.4%),0.8 (13.4%)0.7 (11.0%),0.5 (3.1%)0.7 (4.2%)2.3 (12.9%),70%60%50%40%30%20%10%0%,100%90%80%,2.6 (16.6%)3.2 (21.0%)2.1 (13.4%)1.6 (10.5%)2.0 (12.7%)Black,1.3 (21.4%)0.7 (12.0%)0.9 (15.1%)0.6 (10.4%)0.4 (6.0%)0.3 (4.6%)0.4 (6.1%)Asian,2.1 (11.9%)3.4 (19.5%)3.4 (19.2%)2.0 (11.2%)1.7 (9.6%)1.5 (8.4%)Hispanic,Ethnicity/Race,$200k+$150k - $200k$100k - $150k$75k - $100k$50k - $75k$35k - $50k$25k - $35k$15k - $25kLess than $15k,Source: Geoscape® AMDS 2019,About 24% of U.S. Asian Households Will Earn $150,000or More This YearAnnual household incomes have risen slowly during the past few post-recession years. For thelargest ethnic groups, U.S. Asian households have the highest percent of growth (72.8%), earning$50,000 or more on average, followed by Hispanic and Black households. Approximately, 24% ofAsian American households earn $150,000 or more per year.13.4% Asian households will earn more than $200,000in 2019 a far greater proportion than any other majorcultural segment.Income Ranges By Ethnicity/Race,24.4%,Very Westernized,12,7.19,3.323.65,2.442.30,0,1,2,3,4,5,6,7,8,(AA5) Very Asian Identity(AA4) Bi-Cultural Easternized(AA3) Bi-Cultural(AA2) Bi-Cultural Westernized(AA1) Very Westernized,Diversity of Asian AmericansAsianicity is a Geoscape® CultureCode® measuring the degree to which people of Asian heritagein the United States retain elements of their Asian culture while they acquire elements of theAmerican culture. Asianicity can be dimensionalized by various characteristics including country-of-origin, life stage, socioeconomic strata, income, media usage and a variety of shoppingbehaviors. The result is an unprecedented level of detail that enables marketers to understand thedynamics of the diverse American consumer and market to them more effectively.Asianicity Acculturation Segments for Asian Population 2019,Bi-CulturalAA3Bi-Lingual (equal ornearly); Immigrant aschild or young adult.Many Asian culturalpractices,Bi-CulturalEasternizedAA4Asian languagepreferred (someEnglish); Immigrant asadult; in U.S. 10+ years.Pre-dominant Asiancultural practices,Very Asian IdentityAA5Spanish dominant (nearlyno English); Recentimmigrant as adult (lessthan 10 years ago).Primarily Asian culturalpractices. Identify withhome country more thanU.S.,38%,12%,19%,18%,13%,Bi-CulturalWesternizedAA1 AA2English dominant, Born English preferred (somein U.S.; 3rd+ generation. home language); Born inFew Asian cultural U.S.; 2nd generation.practices Some Asian culturalpractices; some “retro-acculturate”Source: Geoscape® AMDS 2019,Source: Geoscape® AMDS 2019,Asian Population (MM)Although many Asians in the U.S. are acculturated,62 percent retain their culture of heritage(Asianicity) at least to a modest degree.,13,Country of Origin: Asian Americans,When product developers think of the Asianmarket, its important to realize it is not asingle group. Asians in America come frommore than 40 different countries (like India,China, Vietnam, Korea, and the Philippines),representing a wide variety of cultures,languages, and preferences. Unlike Latinos,Asian Americans dont basically share asingle language.,These are very, very different cultures, withdifferent languages, so it makes it quite hardto deliver a culturally sensitive message.Chinese plus Taiwanese form the largestAsian country of origin segment at 23%followed by slightly decreasing portions ofAsian Indian, Filipino, Korean, Vietnameseand Japanese.,Other SE Asian 6%Chinese &Taiwanese23%,Filipino18%,Japanese7%,Korean11%,Other Asian 1%Other S. Asian 4%Asian Indian18%Vietnamese10%,Polynesian 2%,Whereas two-thirds of U.S. Hispanics are of Mexicanorigin, the largest single ancestry group among AsianAmericans is Chinese at 23%, followed by Filipinosand Asian-Indians at 18% each.Country of Origin: Asians,Source: Geoscape® AMDS 2019,14,$2,535,959$3,190,906$1,796,909$1,997,323,HispanicAsianBlackNH WhiteSource: Geoscape® AMDS 2019,