Canada’s ethnic Chinese population is burgeoning—up by 15% over the past five years. And among Chinese-Canadians, one group stands out as an appealing target market: immigrants with a household income of at least $150,000.
These 68,000 people from China and Hong Kong have incomes averaging $211,000, according to Environics Analytics. Concentrated in the biggest urban areas—above all, Toronto and Vancouver—they’re four times as likely as the average Canadian to own a vacation home, three times as likely to live in a home built since 2001 and more than twice as likely to shop at Holt Renfrew. They index highly in attending live sports and exhibitions featuring boats, gardens and outdoor activities.
Members of this prosperous group are above-average newspaper readers, especially of sections such as finance/ business and travel. They’re big users of public transit and, although only middling consumers of TV and radio, can be reached with selective media buys such as those shown at right.
Upscale people from China and Hong Kong are much more likely than the average Canadian to be heavy Internet users, spending at least 16 hours per week online, reports AskingCanadians. They buy a lot while there, such as financial products and services, appliances or furniture, and health and pharmacy products.
When marketing to this group, keep in mind that they like appeals to logic and reason. As well, they like to spend their money wisely, so they’re responsive to messages highlighting the good value of a product or service.
And if this wealthy cohort of Chinese-Canadians seems too small to go after, note that a much larger group of Chinese immigrants—the 376,000 people with a household income of $80,000 to $150,000— share a number of preferences with the high-income group, such as shopping at gourmet and health-food stores.
Infographics by Brett Ramsay