In 2008 comprising 4.4% of the overall total population (4.7% of aggregate U.S. employment in 2009), 4.9 million consumer units and 11.5 million total individuals. Average income for our reference population was $73,528 after tax, which for a Generation X Asian population of 1.93 million returns a total market spending of over $260 billion. Asians had the highest educational attainment, with 78% of Asians attending college vs. 19% with high school diplomas and no college.
Trends in Asian Purchasing Power of Generation X
The Asian segment of Generation X has increased purchasing power far faster over the shoulders of our consideration period, at more than double the rate of all races before and after the soft middle where Asian purchasing power fell while others increased; but that slowed drastically and went backward to double the rate of increase for all other races 2007-08.
all races white alone blackAlone
Black AOIC
Asian Alone
Hispanic
2005
25,036
26,496
16,874
16,629
27,331
14,483
2006
26,352
27,821
17,902
17,564
30,474
15,421
2007
26,804
28,325
18,428
18,107
29,901
15,603
2008
26,964
28,502
18,406
18,054
30,292
15,674
2005-06
5.26%
5.00%
6.09%
5.62%
11.50%
6.48%
2006-07
1.72%
1.81%
2.94%
3.09%
-1.88%
1.18%
2007-08
0.60%
0.62%
-0.12%
-0.29%
1.31%
0.46%
Most Profitable Product to Offer to Asian Generation X
The most profitable product to offer to Asian Generation X is again real estate, with owned dwellings nearly twice the proportion of total expenditures by share for Asians, with the corresponding expense on mortgage products and home services. Asians spend a closer share of their food dollar eating outside the home than the other groups, which makes them...
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