Can Department Stores Avoid The Same Fate As Barneys New York By Courting Gen Z?

The traditional U.S. department store format is no longer conducive to the way Generation Z shops — and shop, they do. Gen Z, those born between the mid-’90s and early aughts, now represents roughly $44 billion in buying power, which means that teenagers today wield a not-inconsiderable degree of consumer clout. In part motivated by a constant desire to one-up their peers online, teenagers have emerged as crucial kingmakers for brands both squarely positioned within and operating on the periphery of streetwear’s all-encompassing purview — and perhaps surprisingly, the vast majority of them still prefer to shop in-store. To effectively appeal to Generation Z, big-box retailers need to act more like multi-brand boutiques, starting by adopting elements of the shopping experience that have turned the business of selling hoodies and tees into a multibillion industry and made elevated streetwear the overarching aesthetic of choice for teenagers across the country. Read more at Fashionista.