Our Voice And Yours

Our Voice And Yours

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 thatâ€™s informed by a rich cultural heritage as well as the latest advancements in technology,â€ stated Mariko Carpenter, Nielsenâ€™s Vice President of Strategic Alliances. â€œGlobally 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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