2015. We can further understand more about the Asian Americans as we can see on quote, “the Asian market, comprised of 18.3 million Americans, will be $825 billion in 2015 and grow to $1.1 trillion in 2020. Therefore, the one-size fits all marketing approach may not work as well as a more targeted strategy. The Asian Indian subgroup is actually smaller in population than the Chinese subgroup, but their per capita buying power is just off the charts,” Since the Great Recession, we’ve seen an interest in the Asian buying power numbers pick up. Part of the reason for that is demographics, there are just more Asian consumers now. But another reason is the fact that the Asian group was less affected by the Great Recession than the other groups. That’s primarily because Asians tend to be very highly educated and therefore were in occupations and industries that were less affected by the Great Recession. Asian buying power held up better than the buying power of the other groups, so I think companies were looking for opportunities in that market more than they were prior to the Great Recession” (Waldman 2017).
