How Gen Z Is Reviving U.S. Shopping Malls
Despite a number of closures, U.S. malls are making a comeback, due in part to a surge in younger shoppers. Almost 60% of shoppers 18- to 34-year-old say they shop at the mall "often" or "sometimes" compared with just 48% of 35- to 54-year-olds, according to market research firm Ipsos. Members of Generation Z, born between 1997-2012, are spending money in physical stores at a similar rate to their grandparents. Some of the top shopping destinations for Gen Zers include department stores like Macy’s, Bloomingdales and JC Penney's, luxury retailers like Gucci and Ralph Lauren and specialty retailers like Express, Abercrombie and Apple. So can younger shoppers help save the traditional brick and mortar mall? CNBC went to Freehold Raceway Mall in New Jersey to find out.
