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

by MR Magazine Staff

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.