According to UGA’s Selig Center for Economic Growth, the fastest-growing ethnic consumer group is Asian-Americans.
In fact, Asian-Americans had an estimated buying power of $825 billion in 2015, and that is expected to reach $1.1 trillion in 2020. That’s a growth of 199 percent in the last 15 years. Among that group, Indians are the most affluent, with an estimated $212 billion to spend.
Jeffrey Humphreys, director of the Selig Center in the Terry College of Business, points out that the diversity of Asian-Americans, which includes people from India, China, Vietnam, Korea and the Philippines, means that one message will not reach everyone in this group. “These are very, very different cultures, with different languages, so it makes it quite hard to deliver a culturally sensitive message,” Humphreys told The Atlantic.