A new report released by Nielsen shows that Asian Americans’ buying power is on the rise.
Asian Americans are the fastest-growing multicultural group in the U.S. and are 54 percent more likely than overall U.S. households to have incomes of $100,000 or more. Their spending power also outpaces the average American household. In 2012, Asian American households spent 19 percent more than overall households.
“Nielsen’s insights demonstrate the expanding opportunities and the positive impact this important ethnic segment can have on businesses and American culture,” said Don Lowery, senior vice president of public affairs and government relations, Nielsen.
The report also found that 86 percent of Asian American households have some sort of savings account, compared to 76 percent of the general U.S. population.
For more key insights about the report’s finding, go to Fast Casual.com.
