May 26, 2015 Washington DC – Thirty eight years ago, Representatives Frank Horton from Rochester NY (R-NY) and Norman Mineta (D-CA) introduced House Resolution 540 (Pacific/Asian Heritage Week) in Congress to proclaim the first ten days of May as Pacific/Asian Heritage Week now known as Asian American Pacific Islander Heritage Month. May was denoted to commemorate the first Japanese immigrant to the U.S., and also to mark the anniversary of the completion of the trans-continental railroad, the majority of the tracks laid by Chinese workers. Subsequently President Jimmy Carter signed the Joint Resolution on October 5, 1978. In 1992, President Bush signed legislation into law designating the month of May as we know now as Asian American Pacific Islander Heritage Month. Law HR-5572 originally introduced by Horton and Mineta, was unanimously approved by both the House of Representatives and Senate during the 102nd Congress.
During the first ever White House Summit on AAPIs, U.S. Surgeon Vice Admiral Vivek Murthy M.D. was installed as the new co-chair of WHIAAPI. President Obama proclaims, “The rich heritage of Asian Americans, Native Hawaiians and Pacific Islanders spans the world and the depths of America’s history. Generation after generation, Asian Americans & Pacific Islanders have forged a proud legacy that reflects the spirit of our Nation. During AAPI Heritage Month, we honor the perseverance of those who courageously reached for their hopes and dreams in a new land, and we celebrate the important impact the AAPI community has made to our Nation’s progress…As we commemorate Asian American Pacific Islander Heritage Month, we pay tribute to all those in the AAPI community who have striven for a brighter future for the next generation. Together, let us recommit to embracing the diversity that enriches our Nation and to ensuring all our people have an equal chance to succeed in the country we love.”
Multicultural consumers are transforming mainstream U.S. marketplace business economy. Propelled by twin engines of population growth and expanding buying power, they are at the leading edge of converging demographic and social trends, redefining the increasingly diverse consumer marketplace. By understanding the cultural landscape that drives multicultural consumer behavior today, marketers and advertisers can anticipate future business market trends and forge long-term relationships with the most robust and fastest growing segment of the U.S. consumer economy.
THE NEW MAINSTREAM
- African-Americans, Asian American Pacific Islanders, Latino Americans et al comprise 38% of the U.S. population with U.S. Census projections forecasting multicultural populations will become the numeric majority by 2044
- 92% of the total growth in the U.S. population from 2000-2014 came from multicultural consumers
- U.S. multicultural buying power is currently $3.4 trillion
MULTICULTURAL BUYING AND SUPER CONSUMERS
- Super consumers represent top 10% of a category’s household consumers and drive minimally 30% of sales, 40% of growth and 50% of profits
- Super geos are geographic regions and metropolitan areas with very high concentrations of Super Consumers of categories
CULTURALLY DRIVEN BEHAVIORS
- 82% of multicultural heavy consumers actively use a smartphone vs 70% of non-multicultural counterparts
- Multicultural heavy consumers are 32% more likely to be the stop segment of mobile users averaging 73 website visits per month and more likely to use an average of 46 apps per month
Adapted from Nielsen, An Uncommon Sense of the Consumer™ www.nielsen.com
China President Xi Jinping’s newly appointed U.S Ambassador Cui Tiankai conveyed celebratory congratulations for the 40th anniversary of the earliest exchanges between China and the U.S. dating back to 1973, opening doors for long-term investments, advancing partnerships and promoting mutual good will. Notably, Nobel Peace Prize recipient and former U.S. Secretary of State, Dr. Henry Kissinger and U.S Trade Representative Ambassador Carla Hills shared their intriguing perspectives and modern insights.
Two leading China – U.S. joint-venture industry leaders were recognized and given tribute who included Alcoa CEO and Chairman Klaus Kleinfeld and IMAX CEO Richard Gelfond, whose modern stewardships in China will through their innovative technologies continue to enrich China’s modern growth and development.
Alcoa is the largest foreign investor in China’s aluminum industry and was named Top Green Company in China. Since 1993, Alcoa Bohai Aluminum Industries Company is China’s largest multinational company in the aluminum industry and invested more than $800 million. Alcoa’s founder Charles Martin Hall in 1928, founded the Harvard-Yenching Institute and supports scholarly studies between western and Asian countries, in particular China.
IMAX is expanding the modern movie-going experience in China and fostering collaboration with China’s film studios, bringing depth to the cultural cinematic interchange. Early on in 2001, IMAX engaged the Chinese movie-goer experience by providing a unique cultural exchange media platform and playing a key leadership role into the development of a large theatre network. IMAX also in conjunction with Chinese film studios brings the best of Chinese cinema within the country and throughout vast audiences globally.
Another renowned U.S. joint-venture pioneer, Walmart China opened its doors in 1996 and introduced to the Chinese the largest retail consumer store ranging from farm-fresh groceries to the emerging e-commerce retail business for their Chinese customers. Presently Walmart operates 396 stores in China and created more than 100,000 direct job opportunities with a vital sourcing presence in China and critical partnerships with 20,000 suppliers throughout China and internationally. Dedicated to serving their local communities, Walmart was awarded as one of the Top 10 Oustanding Corporate Social Responsibility Cases of Chinese Enterprises by Business Value, a leading business journal in China.