Rise of the Zombie Mall

The so-called “retail apocalypse” started in 2010, when large chain stores in the U.S. began to close thousands of brick-and-mortar locations after the Great Recession of 2008. When Sears, JCPenney, Sports Authority, Payless Shoes, Radio Shack, and other once-dominant brands announced bankruptcies and liquidations, they only accelerated the trend.

How well do you know millennial shoppers?

By now most retailers should be familiar with the millennial shopper:

• 80 million U.S. consumers born between 1980 and 2000
• The first truly digital generation, they are “more wired, more community conscious, and more skeptical of traditional business practices” than previous generations.
• They spend $600 billion annually on goods and services.
• They are savvy value shoppers, relying on peer recommendations, online reviews and “show-rooming” to get the best prices.
• They prefer to spend money on experiences, not “stuff;” many don’t see themselves ever buying a car or a TV.