Asian Americans almost twice as likely to shop at Costco, new data shows

Asian Americans almost twice as likely to shop at Costco, new data shows
via ABC
Ryan General
March 1, 2024
Asian Americans are almost twice as likely to shop at Costco as the general population, a new study finds
By the numbers: While representing only 7% of the U.S. population, Asian Americans make up 10% of the wholesale giant‘s customer base, according to market research firm Numerator
The big picture: The data shows that Costco shoppers are 81% more likely to be Asian compared to the average American consumer, potentially due to larger household sizes and a cultural preference for buying in bulk.
Why it matters: This preference is also driven by the store’s strategic inclusion of Asian products such as boba ice cream, oyster sauce and durian pulp. The introduction of these items signals an awareness and responsiveness to the diverse tastes within the Asian American community, which represents a rapidly growing and economically influential segment of the U.S. population.
Other key findings: Numerator’s reports in 2021 and 2022 both indicated Costco’s “typical” shopper profile was a married 39-year-old Asian American woman holding at least a four-year degree and earning over $125,000 annually.
The more recent data reveals that the average Costco shopper is now a 69-year-old white woman with a $60,000 income. Today, the average customer makes approximately 30 trips per year and spends an average of $100 per visit.
Despite being the third-largest retailer in the U.S., Costco maintains a distinct appeal, particularly among higher-income millennial and Gen X households. Costco also leads in customer satisfaction, although competitors like Walmart and Target are making strides.
Share this Article
© 2024 NextShark, Inc. All rights reserved.