Affluent, mainly Asian couples and families enjoying dynamic lifestyles in metro areas
With nearly two-thirds of households containing immigrants from Asia, Asian Achievers has the highest concentration of Asian families in America. Most contain middle-aged, married, dual- income couples and families with older children living in the sprawl of the largest Western cities. Despite the high concentration of foreign-born people (more than half speak Chinese or are bilingual), many of these multigenerational households have found American-style prosperity. The adults have college degrees, white-collar jobs and six-figure incomes. They typically own older houses valued at more than $400,000 in pricey neighborhoods. Most of these stable households have lived at the same address for more than a decade.
Asian Achievers lead active and upscale lifestyles. They enjoy going to the theater, museums and dance performances. They also travel abroad and go to casinos. Many have amassed diverse portfolios of stocks, bonds, mutual funds and CDs. They’ve also reached the age when they need to pay more attention to their fitness routines to maintain a healthy lifestyle. Among their favorite activities are tennis, aerobics, swimming and yoga, and they work out in home gyms and fitness clubs. They are willing to spend and do whatever it takes to look younger.
Displaying an enthusiasm for consumption, Asian Achievers like to buy products that make a statement. They tend to buy high-quality designer fashion from high-end stores. They’re fond of dining at gourmet restaurants where the entrees are presented like works of art and the emphasis is on organic food. They are not fast food consumers. They drive imported cars - especially luxury sedans, SUVs and sports cars - in part because they maintain that foreign- made cars have more cachet than domestic models.
Asian Achievers are above-average consumers of most media, and they are especially interested in getting the latest news and information. They’re fond of newspapers and magazines that cover business and fashion. Their favorite TV shows include science and travel programs. At the local cinema, they’ll line up for documentaries and foreign films. When it comes to research, they mostly look to the Internet. They go online for medical information, stock quotes and product reviews. They like to shop online but are more interested in using the Internet to become smarter about their finances and health issues, especially the use of homeopathic remedies.
Given that so many are foreign born, it’s no surprise that Asian Achievers think of themselves as members of the global village. They’re interested in other cultures and international events. Politically, they describe themselves as progressive liberals who support recycling and reducing greenhouse gases. Socially, they’re not too concerned about issues involving faith and family values. They have high rates for contributing money to political and environmental groups as well as public broadcasting stations. On Election Day, they tend to vote Democratic.
With an impulse to control their destiny, the professionals of Asian Achievers describe themselves as workaholics who are willing to give up family time for advancement. And though they are content with their standard of living, they still want to rise to the top. In this segment, money is the ultimate measure of success.
Nearly two-thirds of households are Asian in this segment, the highest percentage in the nation. Asian Achievers are also known for affluent, educated, middle-aged couples and families living in and around large cities. The adults here hold professional, technical and service jobs. Nearly a third has earned graduate degrees. However, many still retain the traditions of their native countries: one-third speaks Chinese as their first language and about a quarter are bilingual but prefer English.
Asian Achievers are found in Western states - nearly three-quarters lives in California - and they are particularly prevalent in and around the cities of San Francisco, San Jose and Honolulu. These middle-aged couples typically own single-family homes in expensive city and suburban neighborhoods. Many of their homes were built in the 1960s and ‘70s, and have been meticulously cared for. Today they are valued at over $400,000 - more than twice the national average. Unlike the new residents of ethnic gateway communities that serve as jumping-off points to other regions, Asian Achievers have lived in the U.S. for many years and have established themselves in tight-knit communities. They’ve been at the same address for at least a decade.
Asian Achievers lead sophisticated lifestyles. They like going to cultural events and attend the theater, museums, dance performances and classical concerts. Health and fitness fanatics, they often have home gyms filled with cardio and weight machines. They’ll join health clubs for swimming, tennis, aerobics and yoga.
Few segments have more wanderlust than Asian Achievers. Members travel often to foreign destinations in Europe and Central and South America, where they typically stay at high-end hotels or all-inclusive resorts. More than a third enjoys going to casinos - much higher than the national average. Family vacations generally involve trips to theme parks.
Asian Achievers like to shop; they’ll travel an hour or more to get to favorite stores like Nordstrom, Costco and Abercrombie & Fitch. They prefer to buy high-quality, designer clothes, noting that fashion magazines help them determine what to wear. Status-conscious, they like to buy new imported cars - particularly sports cars, luxury sedans and premium SUVs. When it comes to electronics, they turn to their friends for advice. They buy video cameras, handheld devices and high-definition TVs at high rates, but not the highest-end models.
Asian Achievers look to media for news and information. They often read business and fashion magazines. However, they rarely tune in for entertainment fluff; their idea of must-see TV is “NOVA” or “Bizarre Foods with Andrew Zimmern”. Otherwise, they exhibit only average rates for watching TV or listening to the radio. They’re not particularly fond of advertising, changing the channel when a commercial airs. They do go to movie theaters at solid rates - they’re particularly fond of documentaries and foreign films - and they pay attention to movie commercials. They also are responsive to inserts in newspapers, which they read as much as the average American.
Asian Achievers describe themselves as liberal, open-minded and optimistic. They feel that they belong to the global village and are interested in other cultures and international events. They try to live an ecological lifestyle by buying green products, eating organic foods, supporting recycling and reducing pollution. They align themselves with the Democratic Party and support equal rights; otherwise, they are fairly private.
Health and wealth occupy a lot of space in the minds of Asian Achievers. They consider themselves to be health leaders and note that friends often ask their advice about health and nutrition matters. Given their Asian backgrounds, they’re open to non-Western approaches to medicine and alternative homeopathic remedies. They’ll try anything to look younger. While they’re happy with their standard of living, they want to get to the top of their career and describe themselves as workaholics who are willing to take risks and give up family time to advance at their careers. They’re twice as likely to say that money is the best measure of success. With their strong sense of control over their destiny, this segment is driven to achieve.
Asian Achievers can support their sophisticated lifestyles thanks to incomes averaging more than $100,000, typically coming from more than one wage-earner in the household. They’re well along in building their retirement nest egg, filling their 401(k)s and IRAs with mutual funds, stocks, CDs and savings bonds. They like to accumulate wealth in other asset classes and collect coins and own tax-sheltered annuities. They prefer to carry prestige credit cards, such as Visa Gold, MasterCard Platinum and American Express Blue, but they make sure to pay off their balances every month. These middle-aged households present an above-average market for insurance products, especially health, homeowner’s and whole-life insurance, and they tend to purchase high-value policies. They don’t like being in debt, and they only take out loans for their home or education, not for a car or boat. They contribute money to political and environmental groups as well as public broadcasting stations.
The middle-aged couples in Asian Achievers are gradually making the transition to new technology. They go online at home, work and the local library. They tend to use the Internet as a research library, frequenting Websites for medical information, stock quotes, real estate listings and product reviews. They also use the Internet as a communications tool, and purchase computer peripherals like microphones and webcams. They respond to online advertising at average rates, though they’re twice as likely as average Americans to visit sponsored Websites. Most of these aging couples are starting to adopt wireless technology, especially cell phones and laptops for accessing the Internet. However, traditional media is more their style and it’s likely that they’ll always prefer shopping at brick-and-mortar stores over online stores. For Asian Achievers, convenience is not the most important factor when they shop.