The Multicultural Edge of the Rising Super Consumer

Ken Sato, Business and Social Entrepreneur Owns and Operates Small World Foods and Mary Ho, China Millennium Council President at the iconic Wegmans Food Markets Headquarters located in Upstate Rochester New York, participate in the New York State Finger Lakes Regional Economic Development Council

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

 

 

U.S. and China Establish Reciprocal Visa Validity Agreements to Strengthen Economic, Educational and Cultural Collaborations

China's leading retail business conglomerate the BHG Beijing Hualian Hypermarket Delegation Visits Wegman's Iconic American Flagship Pittsford Store and are welcomed by Mary Ho, President of the China Millennium Council, H. Oliver Hamlin IV, Greater Rochester Asian American Pacific Islander Leadership Delegate and Larry Damore, Senior Vice President of Wegmans Food Markets headquartered in Upstate Rochester, New York.

U.S. President Obama traveled to China and met with China President Xi Jinping to effect a reciprocal visa validity arrangement to broaden and fortify economic and people-to-people ties. Both countries mutually agreed to increase the validity of short-term tourist and business visas issued to each other’s citizens from one to ten years – the longest validity possible under U.S. law – and increase the validity of student and exchange visas from one to five years.  The U.S began issuing visas in accordance with the new reciprocal agreement on November 12, 2014. The visa accord will enhance trade, investment, and business ties by facilitating travel and ease access to both economies.  Extended validity visas for students and exchange visitors will foster the bonds between U.S. and China and facilitate travel for outstanding students from around the world who attend U.S. institutions of higher education.  As a result of this arrangement, the U.S. hopes to welcome a growing share of eligible Chinese travelers, inject billions in the U.S. economy and create demand to support hundreds of thousands of additional U.S. jobs.

Welcoming a Growing Share of Chinese Travelers

  • China is the fastest-growing outbound tourism market in the world, and in 2013, 1.8 million Chinese travelers visited the U.S., contributing $21.1 billion to the U.S. economy and supporting more than 109,000 American jobs
  • Chinese travelers consistently rank the United States as their most-desired travel destination, yet less than 2 percent of total Chinese travelers come to the U.S.
  • Chinese travelers cite ease of visa policies as the second most important factor in deciding where to travel, behind only cost
  • A competitive visa policy will help U.S. meet projections that suggest as many as 7.3 million Chinese travelers will come to the U.S. by 2021, contributing nearly $85 billion a year to the economy and supporting up to 440,000 U.S. jobs

Strengthening Bonds Between Chinese and American Students

  • 28 percent of all foreign students and exchange visitors in the U.S. originate from China
  • Chinese students in the U.S. spent $8 billion in 2013, an increase of nearly 24 percent over the previous year
  • Visa accord will allow American and Chinese students to more easily travel back and forth, making foreign study a more attractive option, increasing opportunities for people-to-people ties, and boosting mutual understanding

Extending Visa Validity to Increase the Number of Chinese Travelers Coming to the U.S. and Support American Jobs. In order to support America’s most important and largest services export – tourism.  Chinese travelers persistently rank the U.S. as their top desired travel destination, but only slightly more than 1.8 percent of total outbound travelers go to the U.S.  Chinese travelers cite ease of visa policies as the second most important factor in deciding where to travel, behind only cost.  A competitive visa policy is needed to secure the U.S. as the chosen destination for millions of Chinese travelers

Global growth of outbound travel from China represents an unprecedented opportunity to foster job creation across the country.  China is the fastest growing outbound tourism market in the world, and Chinese visitors have accounted for 20 percent of the growth in overseas travel to the U.S. since 2008.  In 2013, 1.8 million Chinese travelers visited the U.S., contributing $21.1 billion to the American economy and supporting more than 109,000 U.S. jobs.  As incomes in China continue to rise, the number of Chinese citizens able to afford international travel and tourism is projected to more than double over the next few years, reaching the hundreds of millions.  Close to 7.3 million Chinese are projected to travel to the U.S. by 2021, contributing nearly $85 billion a year to the economy and supporting 440,000 jobs.

Increasing business travel will support the U.S. President’s goal of increasing exports. Increasing visa validity for U.S. citizens traveling to China makes it easier to respond to market and commercial opportunities in China, helping to boost U.S. exports, foster increased trade ties, and improve commercial linkages between U.S. and Chinese firms.  In the near term, extending visa validity for Chinese business travelers will also help meet the President’s Select USA goal of boosting inward investment into the United States as the U.S. travel and tourism industry commits to making upfront investments in new hotels and other infrastructure in anticipation of a rise in Chinese inbound travel.

Ambassador Cui Tiankai Honors U.S. Joint-Venture Innovation Leaders for Modern China

China Millennium Council President Mary Ho and Chinese Ambassador Cui Tiankai Reminisce Earlier Autumnal Visit to Upstate Rochester New York including Pumpkin Highlights at Wegmans Food Markets in Pittsford and the Center for Integrated Manufacturing Studies CIMS at Rochester Institute of Technology

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.

Dr. Henry Kissinger, former U.S. Secretary of State and Mary Ho, President of the China Millennium Council Enjoy Their Camaraderie at the 40th Anniversary Celebration of the first exchange between China and U.S. in 1973 arranged by the National Committee on United States - China Relations

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.

Mary Ho. China Millennium Council President and Klaus Kleinfeld, CEO and Chairman of Alcoa Inc., the Largest Foreign Investor in China's Aluminum Industry Discuss Sustainabiity and Best Practices for 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.

Maggie Sans, Walmart Vice President of International Corporate Affairs and Mary Ho, China Millennium Council President Contemplate Chinese Customers' Preference Shopping On-Line Versus a Tactile Atelier Experience