By Michael Nam
A new Nielsen report shows the buying power of Asian Americans expanded by $718 to $770 billion in 2014 and is expected to soar to $1 trillion by 2018. The report dissects the consumer impact of the still relatively small demographic, but while the report notes the Asian American population is the “most culturally diverse,” it does miss an opportunity to disaggregate the multiple Asian sub-groups that would provide a clearer picture of spending habits.
As a whole, Asian Americans are apparently very engaged consumers in terms of blazing trails in various markets, according to Nielsen (No. 42 on the Fair360, formerly DiversityInc Top 50 Companies for Diversity list).
