Shopping at the Mall is Still Alive
People love to be the person who predicts the demise of something. You see this especially played out on CNBC as anchors and experts are predicting market crashes and shifts in behavior. I suppose that if everyone does that, someone will be right at some point. A piece of research by eMarketer surprised me because the common prediction of the death of malls may be a bit premature.
eMarketer posted something I didn’t believe I would read, “the changing face of the American mall points to consumers’ shifting priorities and tastes. But while malls may be taking on a different kind of identity, there’s at least one consumer segment that still favors that traditional shopping experience: millennial women.”
Nearly 20% of Millennial women only do their research and shopping in-store; another 43% do research online but buy in-store. How we research, shop and buy is changing in significant ways, but don’t blame every store closing on Millennial shopping habits.
Much has been guessed about Millennials, from their work ethic to their phone use, yet research continues to show surprising insights into this dynamic and very large demographic. Sure, Millennials are different from Baby Boomers, and that is a good thing. But they also have a lot of traditional orientations that need to be nurtured and carefully messaged, not ignored.