With the Lunar New Year being celebrated on February 14th by the

With the Lunar New Year being celebrated on February 14th by the Chinese, Korean and Vietnamese communities and 2010 known as the year of the Tiger, here are a few interesting notes about the New Year and the Asian Communities that celebrate it.

Traditional New Year’s Day Activities:

• Chinese: New Year’s Eve is a time for family reunions,
  with meals at home or in a restaurant with close family members. Visits are made to temples.
• Vietnamese: Visits to temples to pray for luck
• Korean: Most people spend New Year’s Eve and New Year’s
  Day preparing traditional foods for the celebration. Visits are made to temples.
• Chinese, Vietnamese: Children are given red envelopes
  (called hong bao in Chinese) with New Year’s money
• Lucky Colors: Red (symbolizes happiness), Gold (symbolizes wealth)

Americans of Asian ancestry represent the country’s third
largest minority group. They will see their purchasing power grow almost as fast as Hispanics over the next five years. Asian buying power is forecast to grow 45.9 percent, versus 46.3 percent for Hispanics.

With over $525 Billion in spending power Asian-Americas are a powerful force in the USA consumer market today. Did you know that over 38% of Asian Internet users have made more than 5 purchases using the net over a period of 12 months, compared to 13.6% of Hispanics and 12.4% of African Americans.

Over 74% of Asian-American Internet users access the net each day and they are more likely to have a college degree and a higher average income than any other ethnic group. Media preferences for Asian Males between the ages of 25-54 are the Internet and online ethnic newspapers. Asian Males spend 58% more time on the Internet than any other ethnic group of males in the same age range. About 38% of Asian Americans read their daily news online, over 26% seek financial information on a typical day and 30% of them seek political news and information on a daily basis.

These percentages are much higher than any other ethnic group including Caucasians in both the USA and Canada. Several research firms have predicted over 85% of Asian American households will use the Internet in comparison to 62% of Hispanic and 66% of African American households by the end of 2010. The language preferences during Asian American online visits is English as the most popular at over 37% (this may be attributed to their higher education levels and income status) with Chinese second at 14% ;
Japanese 9% and Korean 4%.

Sounds like Asiance is the perfect vehicle to target Asian Americans!

Via Ethnic Technologies