*Something unexpected is happening at America’s malls – and Gen Z is behind it. Younger consumers are turning away from online carts and heading back to physical stores, bringing with them a set of priorities that is reshaping how retailers and mall operators do business.
The trend was spotlighted during a recent segment on “Varney & Co.” on FOX Business, where reporter Madison Alworth broke down how malls across the country are rethinking their spaces to attract younger shoppers.
“The resurgence of the mall category directly correlates with Gen Z shoppers’ desire for community and in-person connection,” Elizabeth Lafontaine, director of research at Placer.ai, told USA TODAY. Brands and mall-based retailers are turning to social media as a key tool for reaching younger Gen Z audiences.
According to data firm NielsenIQ, Gen Z retail spending is on track to exceed $12 trillion globally by 2030, a pace of growth that leaves every other generation behind, per FOX Business. Circana data reinforces the point, showing that shoppers between 18 and 24 completed 62% of their general purchases in-person last year.
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For mall operators, understanding what Gen Z actually wants has become essential. Macerich Executive Vice President of Asset Management Cory Scott said the equation goes beyond merchandise. “They value experiences almost more than they value material things. So it’s as much about the journey as the shopping and the things that they’re taking home with them,” Scott said.
Some younger shoppers who spoke with FOX Business pointed to something deeper driving their preference for physical retail – a hunger for human connection.
“We grew up during like quarantine… Getting out and hanging out with people was a very big thing we didn’t appreciate during that time… As we grow older, we see that we need to be doing these things and it’s kind of fun,” one shopper said.
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