AUSTIN, Texas–(BUSINESS WIRE)–Two luxury brand managers meet in a bar in New York City. One says to
“So where are you going to open your next retail location?”
And the other replies:
“Wherever Asian-American tourists are traveling.”
When it comes to the new luxury market in the USA, there’s more truth in
this parable then is commonly known.
MVI Marketing LLC (MVI)’s team recently completed a consumer
research study asking wealthy, millennial age, Asian-American and
Hispanic/Latino-American consumers about their shopping preferences and
behaviors. The results are noteworthy for brand marketers.
Certain brands consistently denote status, quality, prestige and
affluence among Forward Facing Immigrants (FFI)
consumers in this study. Asian American women associate these
attributes with Tiffany, Swarovski, Gucci, and Cartier.
Hispanic American women also include Michael Kors, Louis Vuitton, and
Chanel among their most favored brand names.
While the FFI consumer relies heavily on the research gleaned
by online reviews, their purchasing of various products is somewhat
They are most likely to purchase luxury travel, spa experiences and
hotels via mobile device or on the internet. Yet other areas such as
fashion and jewelry still require the touch and in person experience.
This demographic segment is sophisticated, discerning, and rapidly
growing into a significant segment of the American luxury consumer
The FFI consumer wants to feel valued as a customer and this
sentiment is ranked as the most important shopping experience factor.
Both Asian Americans and Hispanic Americans also value a personal
stylist, private shopping rooms and post sales follow-up.
After reviewing the results of this research, MVI’s President,
Liz Chatelain, had this to say about the FFI consumer segment:
“Despite the ongoing Trump bombast, the new luxury market is clearly
being driven by the growing wealth and upward mobility of immigrant
consumers.” She continued:
“Brands hoping to reach the FFI luxury consumer segment must embrace
their uniqueness and recognize the achievements of their families in the
USA. They often shop for status brand products, that are popular and
in-demand in their country, to wear or bring as gifts when they travel
The study was conducted online between 11-18 November 2018 and completed
by 702 respondents with this demographic profile:
- 25-40 years of age
- $80,000 household income and higher
- Female and Males
- USA only
- Self selected as Asian-American or Hispanic or Latino-American
The full report is available at MVIMarketing.com