Millennials may have fled the malls, but brick-and-mortar retail is apparently more appealing to Generation Z. Teenagers are becoming big spenders, and they like to do a lot of that spending in actual stores, according to new research from CBRE.
Generation Z's spending is now at approximately $143 billion per year, and these teens influence an additional $450.5 billion in spending by others, according to a CBRE report, which uses data from eMarketer.Fashion District mall in PhiladelphiaMillennials may have fled the malls, but brick-and-mortar retail is apparently more appealing to Generation Z.
Generation Z's spending is now at approximately $143 billion per year, and they influence an additional $450.5 billion in spending by others, according to CBRE's report, which uses data from eMarketer. While Generation Z spends a great deal of time online making purchasing decisions, 81% of them prefer to go to stores.
While most teenagers are obsessed with their phones, they are also more native to technology and e-commerce than any other generation, and are therefore more open to other options.
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