Americans between the ages of 18-35 are shopping online—but they'll still visit brick-and-mortar retailers with offerings that are “fresh” and interesting, according to a new report from the Urban Land Institute (ULI).
ULI points out that U.S. members of Generation Y, estimated at 80 million members, are far more internet-savvy than any other generation. The institute and Lachman Associates recently conducted an online survey of 1,251 Gen Yers and leveraged that data with a focus group conducted at Columbia University’s Graduate School of Business and a literature search. The resulting report explores the shopping preferences of Gen Yers.
Among the findings: Gen Yers associate shopping with socializing—and place much value on living close to retailers. The report found these consumers enjoy shopping and dining out and tend to bore easily. This makes it important for retailers to regularly update merchandise and to regularly find new ways to engage these consumers.
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