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Asian Americans are the most prolific spenders in U.S., survey shows - latimes.com


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It's not just spending, it's growing in size:

They prefer Costco over Wal-Mart, brand names over generics and lead the nation as a demographic in online buying. As a group, their spending power outpaces the coveted millennials -- those in their 20s and early 30s, according to Nielsen's "Significant, Sophisticated and Savvy: the Asian American Consumer 2013."

Asian American households, on average, boast incomes of $100,000 or more -- earning more than general U.S. households and representing the highest among cultural groups, according to the findings.

FULL SURVEY: The Asian American consumer

Asian Americans are the fastest-growing cultural segment in the nation, with a population of nearly 19 million, and with an increase expanding beyond the traditional hubs of the West Coast and New York City. Asian Americans continue to swarm to urban areas, with all states except Hawaii experiencing 33% or more growth in the last year.

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