State of the Industry
The retail shakeup is upon us.
As technology shapes consumer preferences, the retail
landscape is being turned on its head. Commerce is now
digital. And the era of mall rats and lazy days spent at the
food court seem like a distant memory.
Today, both strip mall boutiques and legacy giants are
closing up shop – and with over 70 million square feet of
retail space slated to disappear in 2018 – merchants are
struggling to find an answer to the question, “Now what?”
As global consumer behavior has fundamentally changed
over the last decade, acquiring new customers is now
unquestionably square one. With a massive footprint,
and spending power to boot, the time is now to embrace
Gen Z. One of the largest generations to date, Gen Z
already wields enormous influence over the future of
retail that will only intensify with each passing year.