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Lokvani Team
06/05/2019
In
2018, ten states accounted for 75% of Asian American buying power which
increased 50% over the last eight years. (Map courtesy of Nielsen)
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,â€
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."
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