Asian-Born Australians Driving New Opportunities in Food Retailing

 In Australia, NewZealand
Ethnic-Australians’ spend on FMCG retailing is growing at a faster rate than their Australian-born counterparts. In the next five years, this important group of consumers will contribute a total of $18.7 billion (or 28{845d44a2f09c0018d802e19e78941a85dc2180e4ed7410cee0b34e8cb134ecea}) in sales for the grocery sector. This represents an increase of $4.4 billion in incremental revenue, with Asian-born consumers making up 57{845d44a2f09c0018d802e19e78941a85dc2180e4ed7410cee0b34e8cb134ecea} of this growth.
Findings from Nielsen’s Ethnic-Australian Consumer Report reveal that the origin of the ethnic-Australian consumer is altering dramatically. When thinking about our culturally diverse mix, we should no longer be focusing solely on European cultures. Today, Asian-born Australians now represent more than 10{845d44a2f09c0018d802e19e78941a85dc2180e4ed7410cee0b34e8cb134ecea} of the overall population – their footprint has more than doubled over the past 20 years and this will continue to increase.
Asian-born consumers are growing in importance and engaging with them requires a change in mindset that very few Australian manufacturers have embraced to date. For example, Asians’ food preferences are very different. They devote almost a third (32{845d44a2f09c0018d802e19e78941a85dc2180e4ed7410cee0b34e8cb134ecea}) of their grocery spend to fresh food (compared to Australian-born consumers who allocate 26{845d44a2f09c0018d802e19e78941a85dc2180e4ed7410cee0b34e8cb134ecea} of their spend on fresh); and they also have a strong skew toward seafood, fresh herbs and healthier food options in general. Nielsen – Read more…

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