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Asian-American Consumers: What the Financial Services Industry Needs to Know

Posted by Saul Schulman on December 3, 2018

As the fastest-growing ethnic group in the country, Asian-Americans make up an important market segment for a variety of industries.

Because they are also the most affluent and educated of any U.S. racial or ethnic group, they are a key market for personal financial instruments.

Here’s what the financial services industry needs to know to reach this important demographic.

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Five Retail Insights on Multicultural Buying Habits

Posted by The LanguageLine Solutions Team on September 21, 2017

“Minority” consumers won’t be in the minority for much longer in the United States. Asian-Americans, African Americans and Hispanics already make up a majority of the population in four states and the District of Columbia, and several other states are nearly there. By 2055, the U.S. will not have a single racial or ethnic majority, according to the Pew Research Center.

Given the current size and future growth of these consumer groups as a larger part of the market and growth opportunities, market research firms are making a careful study of the buying habits of multicultural consumers. Paying attention to multicultural buying habits, as well as the media and cultural preferences of these populations, will benefit retailers now and in the future, as these statistics show.

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