By now, most consumers are well-aware that nutrition significantly impacts skin health. This awareness rings especially true within the Asian-American population, which tends to take a holistic approach to skin health and is willing to spend more than most on both health and beauty products, according to Nielsen’s latest research.
From 2002 to 2014, the Asian-American population grew by 46 percent in the increasingly multi-cultural United States, revealed Nielson’s report. In addition, this demographics’ buying power equaled US$770 billion in 2014, but is predicted to hit US$1 trillion in 2018. This is encouraging news for U.S. beauty companies, as Asian-Americans spend 70 percent more than the average U.S. population on skin care products. In addition, the segment spends 25 percent more on fragrances, 15 percent more on hair products, 12 percent more on soaps and toiletries and 7 percent more on cosmetics.
The report also states the median age of most Asian-Americans is about 35, making them younger than the non-Hispanic white population (median age of 42). But it’s actually those under age 35 who place the most importance on quality skin care products. Asian-American women who fall into the millennial category (ages 18 to 34) want high-quality branded products and are less likely to choose private-label brands. Most Asian-American women are also likely to agree that name-brand products are worth spending a little extra dough. They tend to agree private-label brands sport less appealing packaging, private labels do not meet their quality needs and that they do not know enough about private labels to try their products.
In addition, millennial Asian-American women purchase personal care products for men 9 percent more often than non-Asian-American females, and they spend about 20 percent more when buying, according to the report.
Findings also show Asian-Americans make up one of the most technologically savvy ethnic segments in terms of mobile device and social media usage. Therefore, marketers may use Internet and social media tactics to reach these consumers, and they may also consider offering cosmetic consultation and product samples to build consumer trust and awareness.
In a previous report from Nielson, researchers found consumers place the highest value on personal care products claiming “not tested on animals," “contains SPF" and “all natural."