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Lokvani Team
06/05/2019

Breaking New Ground:
Our Spending Power is Epic
As the fastest growing segment of the U.S. in both population and buying power, Asian Americans are advancing and evolving in ways that are having a profound influence on the American mainstream.



Asian Americans' spending power in the U.S. is expected to break $1.3 trillion by 2023, after topping $1 trillion in 2018. 
If Asian Americans were a country, their spending would represent the eighteenth largest economy in the world.
 

"The Asian American path to purchase is a unique journey that’s informed by a rich cultural heritage as well as the latest advancements in technology,” stated Mariko Carpenter, Nielsen’s Vice President of Strategic Alliances. “Globally and digitally connected Asian Americans are playing integral roles, both as consumers and influencers, in shaping the next generation of retail and e-commerce trends in the U.S. and beyond." 

In 2018, ten states accounted for 75% of Asian American buying power which increased 50% over the last eight years. (Map courtesy of Nielsen)

(Source: Indian American IMPACT )

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