Claritas: The 2023 U.S. Asian Market Report

Before the pandemic, Asians were already a critical growth driver of the U.S. economy. Their population in the U.S. has grown to over 21.1 million and now represents 6.2% of the total U.S. population. Notwithstanding their relatively small representation in the U.S. population (compared to Black and Hispanic populations), Asians accounted for almost 18% of the U.S. population growth since the 2000 Census. They have been the fastest- growing population segment with 103% growth between 2000-2023.

Mining the quantitative and qualitative data on Asian American consumers can result in the understanding needed to engage this coveted population segment in an authentic manner. Determining which mix of traditional and digital media is key, as Asians tend to be tech-savvy and digitally connected. The ability to link Asian identifiers to cultural preferences and to steer media campaigns towards the appropriate channels and devices will certainly prove worthwhile to your company’s bottom line. To gain a fair share of this increasingly important segment, marketers need to know how, when and where to engage Asian consumers, in-culture and in-language, as appropriate. To provide a better understanding of this segment, we’ve compiled some useful statistics & insights to help develop your Asian marketing strategy. We hope you find value in this edition of The Asian American Market Report and may you have a strong finish to 2023!