The National Retail Federation expects sales in November and December (excluding autos, gas and restaurants) to jump 3.6 percent from last year to $655 billion. The NRF’s Holiday Forecast 2016 has non-store sales — 90 percent of which is e-commerce — growing by seven to 10 percent to as much as $117 billion. And one demographic, in particular, is driving a significant amount of that growth: Asian-American consumers, the fastest growing minority segment in the U.S.
In our recent in-depth research series, ThinkNow Retail™ – Total Market Holiday Shopping Trends, we conducted an online survey of 253 Asian, 245 non-Hispanic white, 249 African-American, and 502 U.S. Hispanic consumers. We explored the holiday shopping habits of multicultural consumers in the U.S. to help brands and companies better understand these super holiday consumers and how they compare to the rest of the country. This report highlights the top 5 key holiday shopping habits and behavioral insights we uncovered among the Asian-American cohort.
Download ThinkNow Retail™ – Total Market Holiday Shopping Trends: Asian-American Focus for additional insights and marketing implications.