Asian Americans: Consumption Habits
To obtain 3-5 statistics showing that Asian American/Asian American Pacific Islander( also called Asia Pacific American or Asian Pacific Islander) disproportionately consume footwear/street wear/active wear.
As we dove into the background research of this topic, we reviewed several reports from credible market databases including Marketwatch and others. However, there seems to exist only a few statistics that show the footwear/streetwear/activewear purchasing habits of Asian Americans. A summary of our findings is provided below:
- Asian Americans buying power has grown exponentially to $986 since 2000.
- Millennials Asian Americans make most online purchases in the category of clothing which is 13% more than non-Hispanic White purchasing in this category.
- It is of note that since 2010 Asian Americans represent the second-fastest-growing ethnic group after Hispanics.
- Asian American household spending is the highest among all the demographics.
- Asian Americans spend around $3000 annually on apparel which is more than 15% of the average US households. This spend is for all the apparel sub-categories including clothing and footwear.
Proposed next steps:
You need to be the project owner to select a next step.
Looking at the availability of the information in the public domain, we recommend providing additional 2-3 statistics showing the consumption habits of Asian Americans in the category of footwear/streetwear/activewear.