The Market of Chinese American

Insights of Chinese American Market

Rudy HsiehAccount Executive/ Commercial Journalist

What You Need to Know About Chinese American

By 2012 census data, Chinese American make about 4.3 million of population (including Taiwanese) in the United States which makes Chinese American the largest Asian ethnical group.

2.5 million don’t speak English or speak only a little of it(TVB 2010)

More than one in ten employment-based green cards went to Chinese immigrants in 2010.

Almost one-quarter of employed Chinese-born men worked in information technology and other sciences and engineering occupations in 2010

What You Need to Know About Chinese AmericanChinese-born women were more likely than

Chinese born men and immigrant men and women overall to work in management, business, and finance professions in 2010.

2.6 million people age 5 and older in the U.S. speak Chinese at home. After Spanish, Chinese is the most widely spoken non-English language in the country. (Nielsen 2012)

76% of Chinese American were foreign-born.Chinese-born adults were more likely than the

native born to have a bachelor's degree or higher level of education.

What You Need to Know About Chinese AmericanMore than four in ten Chinese immigrants in

the United States arrived in 2000 or later.Chinese immigrant women outnumbered men

in 2010.Chinese immigrants were less likely to live in

poverty in 2010 than the foreign born overall.About 479,000 children resided with at least

one Chinese-born parent in 2010.28.4% of total population of international

students in the United States is from China and Taiwan.

Distribution of Chinese American Population

Las Vegas Chinese American PopulationAccording to 2010 Census data, about 41,000

Chinese American reside in Las Vegas making up about 0.7% of the total population in Las Vegas.

Purchase Power of Asian American28% of households in the group have annual

incomes greater than $100,000, compared with 18% of all Americans in 2010 (LA Times 2012)

Per the last published U.S. Economic Census survey of minority businesses in 2007, Asians owned and operated $1.6 million businesses nationwide, generating $514 billion in annual sales revenue. By contrast, our nation’s 2.3 million Hispanic-owned businesses in aggregate generated $345 billion in annual sales revenue  - 33% less than that for Asian businesses. 

Purchase Power of Asian AmericanAccording to the Selig Center at the

University of Georgia, Asian-American purchasing power in 2009 reached $509 billion, representing an 89% increase in purchasing power since 2000, and nearly twice the purchasing power growth rate for the total U.S. population during the same period.

Cost Efficient ReachAlmost 1,000 targeted media outlets reaching

Asians nationally, with lowest CPMs (Cost Per Impression) of all consumer segments.

Chinese American Purchase Behavior (World Journal 2006)More than half regularly buy entertainment

goods such as DVDs or CDs or rent movies. (World Journal 2006)

Nearly half regularly go to the movies (World Journal 2006)

Chinese Americans also regularly play the lottery, go to theme parks, go to casinos, attend major art exhibitions at a gallery or museum and attend live music events. (World Journal 2006)

Chinese American Purchase Behavior (World Journal 2006)96% of Chinese Americans have insurance83% have medical insurance83% have auto insurance65% have life insurance64% have homeowners insuranceTop Frequent Flyer Program UnitedTop Car Rental Company Used HertzTop Cruise Line Taken - Past 3 years Carnival

Chinese American Purchase Behavior (World Journal 2006)66% of Chinese Americans have internet

access60% of those have made a purchase online in

the past year.Consumers spend over $900 annually online.More than 1/3 are very likely to make online

purchases within the next 3 months.

Characteristics of Chinese AmericanChinese American tend to live with multiple

generation of families meaning if you can successfully capture one generation of Chinese American, you can pretty much capture multiple generations of Chinese American in general.

Chinese immigrants are closely bound with their peers in Mainland China, Taiwan, or Hong Kong which makes them the best channel of word of mouth when marketing on those region. They are usually the opinion leaders when it comes to consuming in the United States.

Characteristics of Chinese American ConsumersConsumers prefer foreign brands in some

categories, notably electronics, and prefer Chinese brands in others, such as personal care. But the good news for global companies is that the younger and more affluent consumers are, the more likely they are to favor foreign brands. (McKinsey & Co. 2012)

Chinese American care about their social status more than other ethnical group.Good reputation

Characteristics of Chinese American ConsumersChinese American like to bring presents

when they visit families, friends, customers/clients, or even business partners.

Key Points of Service/Market to Chinese AmericanIn LanguageBrandingSimplified process

Asian American – Valuable but Overlooked MarketMain reason of Asian American market are usually

overlooked because many American brands already have the trust and support of the Asian American community.

As a group, Asian Americans spend more than the average U.S. household on housing, food, education, financial products, vehicle purchases and more. “Many brands say, ‘They’re already buying my product — why do I need to target them?’” says Saul Gitlin, executive vice president of strategic services for the Kang & Lee agency. “But that’s a double standard — they would never say that about white people who also buy their products.”

Asian American – Valuable but Often Overlooked MarketQuestions about double standards aside,

marketers believe that the Asian propensity for modesty — that is, laboring and achieving in relative silence — runs counter to American traditions of grievance and protest. Thus Asian Americans may be unwittingly complicit in their neglected status among marketers. 

Sources of Chinese PersonnelUNLV Chinese Students & Scholars

Association (UNLV CSSA)http://unlvcssa.com/index1.html/index.htmlFacebook:

https://www.facebook.com/groups/173986447644/

UNLV Taiwanese Students Association (UNLV TWSA)unlvtwsa@gmail.comFacebook:

https://www.facebook.com/groups/unlvtwsa/

Information Source2012 CensusChinese American Media Consumption and Purchasing

Behavior Survey 2006 Provided by Chinese Daily News (World Journal)

Marketing to Asian Market (Delivery Magazine)2012 Neilsen Asian American Consumer ReportTVB 2010 Asian American Consumer ReportMcKinsey & Company: Consumer & Shopper Insights 2012ForbesAdvertising AgeLA TimesWall Street Journal

Questions

Thank You