Asian Americans are nearly twice as likely to shop at Costco than the average consumer, new data says
Costco continues to dominate with Asian American shoppers. New data from Numerator revealed they are nearly twice as likely than the average consumer to shop at the wholesale giant.
Costco continues to reign supreme as a favorite for Asian American shoppers, with new data revealing they are nearly twice as likely than the average consumer to shop at the wholesale giant.
While Asian Americans only make up 7% of the population, they comprised 10% of Costco’s consumer base in 2023, according to Numerator, a market research firm that creates data snapshots of some of the country’s biggest retailers.
Compared to the average American consumer, Costco shoppers are 81% more likely to be Asian, the data said.
This affinity for the warehouse chain isn’t a new phenomenon, according to experts. Data from consumer intelligence firm NielsenIQ shows that Asian households tend to be larger than the U.S. average, and Asian Americans tend to buy in bulk, CNBC reported. And with Asian American communities growing faster than any others nationwide, the popularity bodes well for Costco.
“For Asian Americans, their rate of population acceleration certainly lends to this idea that ... they’re going to be creating major market shifts,” Kymberly Graham, head of diversity initiatives at NielsenIQ, told CNBC in 2022. “Their needs are being served, it inherently becomes very profitable for anyone that’s serving them.”
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