1、 2024 Nielsen Consumer LLC.All Rights Reserved.2024 Nielsen Consumer LLC.All Rights Reserved.Concentrated and ConnectedDiverse VoicesAsian American Consumer Report 2024 2024 Nielsen Consumer LLC.All Rights Reserved.Who is the Asian American shopper?2 2024 Nielsen Consumer LLC.All Rights Reserved.Dat

2、a Source:https:/www.pewresearch.org/short-reads/2021/04/29/key-facts-about-asian-americans/Extremely young population with high earning potential3Median Age:34,compared to 3858%are Gen z22.4MTotal Pop 7%of US PopMedian age US born:19,compared to 36Median HH income:$85,80027%live in multigenerational

3、 HHs72%speak English proficiently54%have college degree+,compared to 33%US-23%of Asian Americans work in the scientific,technology,engineering,and mathematics related industries(vs.12%of the total population.)2024 Nielsen Consumer LLC.All Rights Reserved.4Six origin groups make up 85%of the populati

4、on57%Asian Americans were born in another countryoCompared to 14%of Total UShttps:/www.pewresearch.org/short-reads/2021/04/29/key-facts-about-asian-americans/Varied cultural and ethnic identities24%21%19%10%9%7%15%All OtherChineseIndianFilipinoVietnameseJapaneseKorean%of US Asian population 2024 Nie

5、lsen Consumer LLC.All Rights Reserved.5Projected to be the largest immigrant group in the US surpassing HispanicsData Source:https:/www.pewresearch.org/short-reads/2021/04/29/key-facts-about-asian-americans/%of immigrant populationRapidly growing population1818181920899994340373431293234363820252035

6、204520552065AsianHispanicBlackWhite 2024 Nielsen Consumer LLC.All Rights Reserved.Data Source:https:/www.pewresearch.org/short-reads/2021/04/29/key-facts-about-asian-americans/Geographically concentrated6Nearly 45%live in the West30%live in CA alone 2024 Nielsen Consumer LLC.All Rights Reserved.2024

7、 Nielsen Consumer LLC.All Rights Reserved.7Data source:https:/ power projectionsBuyingpower projected to reach$1.6T in 2024 2024 Nielsen Consumer LLC.All Rights Reserved.What is the Asian American shopper buying?8 2024 Nielsen Consumer LLC.All Rights Reserved.9Data Source:NielsenIQ OmniShopper Panel

8、 52 WE 6/17/23Asian American spend contributing to total US growthAsianTotal U.S.Purchase size$40.15Total Dollars:$95B,+4.7%Purchase frequency:374.2Item buy rate$15,114Purchase size:$41.26Total market+5.5%Purchase frequency 346.4Item buy rate$14,293 2024 Nielsen Consumer LLC.All Rights Reserved.Data

9、 Source:NielsenIQ OmniShopper Panel 52 WE 6/17/23Outspend on Large Departments10Total FMCG ex fuelAlcoholBaby CareFloralFoodGeneral MerchandiseHealth&Beauty CareHousehold CareTobacco&Tobacco AlternativesPet Care95%88%101%140%93%100%108%85%69%62%$438.29$368.84$80.86$6,627.01$4,124.41$1,772.03$681.89$

10、255.54$491.30Total USAsian/Pacific Islander$15,114.57$499.21$264.15$80.29$6,629.46$4,458.51$1,639.49$798.27$415.17$711.33$14,292.75 2024 Nielsen Consumer LLC.All Rights Reserved.Where are Asian American consumersshopping?11 2024 Nielsen Consumer LLC.All Rights Reserved.122%3%1%4%30%33%27%Beauty Supp

11、lyDept StoreDollar StoreDrug StoreGroceryMass MerchWarehouse/ClubData Source:NielsenIQ OmniShopper Panel 52 WE 6/17/23Asian American consumers spend majority of dollars in Mass Channel 2024 Nielsen Consumer LLC.All Rights Reserved.Data Source:NielsenIQ OmniShopper Panel 52 WE 6/17/23Highest growth i

12、n beauty supply channel13Item Buy RatePurchase SizePurchase FrequencyBeauty Supply$471.75$51.96 9.1Dept Store$674.57$86.04 7.8Dollar Store$209.02$13.99 14.9Drug Store$531.13$17.82 29.8Grocery$4,013.82$31.91 125.8Mass Merch$4,406.53$43.24 101.9Warehouse/Club$3,679.63$91.0 40.4 2024 Nielsen Consumer L

13、LC.All Rights Reserved.Influence and purchase drivers14 2024 Nielsen Consumer LLC.All Rights Reserved.2024 Nielsen Consumer LLC.All Rights Reserved.15Tech TrendsettersSource:https:/www.digitalcrew.agency/a-guide-to-understanding-the-asian-american-consumer/87%made a purchase online97%own a smartphon

14、e99%have access to internet at home89%own a personal computer 2024 Nielsen Consumer LLC.All Rights Reserved.2024 Nielsen Consumer LLC.All Rights Reserved.16Source:GfK Consumer Life Multicultural Americans August 2023Many are highly engaged,early adopters68%53%48%43%36%Virtual Reality CryptocurrencyA

15、ugmentedrealityMetaverseNFTs 2024 Nielsen Consumer LLC.All Rights Reserved.Source:https:/ influential group.17Discuss 90 Brands online weekly,16%more than average32%Post reviews and sharing opinions online compared to 23%Gen Pop 2024 Nielsen Consumer LLC.All Rights Reserved.18Sourcehttps:/ Consumer

16、Life Multicultural Americans 2023And highly influenced50%42%over 50%say online reviews from other shoppers is very important when shoppingshopped in social media using the buybutton or clicking a shoppable post 2024 Nielsen Consumer LLC.All Rights Reserved.How to connect with Asian American consumer

17、s?19 2024 Nielsen Consumer LLC.All Rights Reserved.2024 Nielsen Consumer LLC.All Rights Reserved.20Cultural attributes are central to connectionSource:https:/www.digitalcrew.agency/a-guide-to-understanding-the-asian-american-consumer/RootednessA.AdventurousnessB.ExceptionalismC.AnxietyD.Independence

18、E.ComplianceF.2024 Nielsen Consumer LLC.All Rights Reserved.21Source:https:/www.digitalcrew.agency/a-guide-to-understanding-the-asian-american-consumer/Data source:NIQ August Omnibus survey Q:How interested are you in purchasing products that offer the following benefits?Rootedness24.5%237 indexInte

19、rested in purchasing products that reflects my culture/heritage 2x more likelyA proclivity to cherish and incorporate culture and tradition into ones identity.2024 Nielsen Consumer LLC.All Rights Reserved.22Adventurousness30.5%124 indexIs new/different as top purchase driverThe willingness to seek o

20、ut and attempt new things is referred to as adventurousness.Source:https:/www.digitalcrew.agency/a-guide-to-understanding-the-asian-american-consumer/Data source:NIQ August Omnibus survey Q:How interested are you in purchasing products that offer the following benefits?2024 Nielsen Consumer LLC.All

21、Rights Reserved.23Source:https:/www.digitalcrew.agency/a-guide-to-understanding-the-asian-american-consumer/Exceptionalism3 out of 10Asian Americans say that brands that do not advertise in Asian media are sending a signal that they do not care about their business.It is the tendency to regard onese

22、lf as important,interesting,and one-of-a-kind.2024 Nielsen Consumer LLC.All Rights Reserved.24Source:https:/www.digitalcrew.agency/a-guide-to-understanding-the-asian-american-consumer/GfK Consumer Life Multicultural Consumers August 2023AnxietyIt is characterized by apprehension and concern about on

23、es life and future results.Health&Wellness remains top of mindActively looking for products and services that help me live a healthy lifestyle ranks#13 among Asian Consumers 30%agree that Natural ingredients are healthier 2024 Nielsen Consumer LLC.All Rights Reserved.25Source:https:/www.digitalcrew.

24、agency/a-guide-to-understanding-the-asian-american-consumer/GfK Consumer Life Multicultural Consumers August 2023IndependenceThe proclivity to think and behave according to ones particular ideals and convictions.Asian Americans rank being true to yourself as#2 definition of success 2024 Nielsen Cons

25、umer LLC.All Rights Reserved.26Source:https:/www.digitalcrew.agency/a-guide-to-understanding-the-asian-american-consumer/GfK Consumer Life Multicultural Consumers August 2023ComplianceAsian American individuals with a high level of compliance tend to obey regulations and social standards.Being knowl

26、edgeable and well informed was#1 for Asian definition of success 2024 Nielsen Consumer LLC.All Rights Reserved.Summary27 2024 Nielsen Consumer LLC.All Rights Reserved.2024 Nielsen Consumer LLC.All Rights Reserved.28SummaryThere are 22.4M Asian Americans making up 7%of the US population57%were born i

27、n a different country,representing diverse cultural and ethnic identitiesAsian American buying power is projected to reach$1.6TAsian American consumers are highly influential with 1/3 posting reviews and sharing opinions online$95B was spent in the CPG industry,growing at a rate of 4.7%YoYThe distinct cultural attributes of Asian American consumers is key to authentic connection 2024 Nielsen Consumer LLC.All Rights Reserved.2024 Nielsen Consumer LLC.All Rights Reserved.Thank you.29