Gen Z keeps confounding Corporate America. They’ve shunned beer, they want companies to take political stands and they trust Kardashians to make their makeup choices. But perhaps the biggest surprise about this new cohort of teenagers is the most unexpected of all: They love the shopping mall. Around 95 percent of them visited a physical shopping center in a three-month period in 2018, as opposed to just 75 percent of millennials and 58 percent of Gen X, according to an International Council of Shopping Centers study. And they genuinely like it; three-quarters of them said going to a brick-and-mortar store was a better experience than online, ICSC found.
Nimble retailers are making their stores more Instagram-worthy in a bid to appeal to this connected crowd. About a third of Gen Z consumers say shopping should also be entertaining, according to data from Cassandra, a cultural insights and strategy agency. With these Gen Z shoppers in mind, old-guard department store Macy’s Inc. earlier this month rolled out in 36 of its locations “Story,” a colorful themed shop-in-shop. In its behemoth Herald Square store, the 7,500-square-foot space is brightly painted with primary colors, a pillar completely made of Crayola crayons, a pingpong table and a rainbow tunnel. Read more.
This week on Franchising & You, newly appointed president of the International Franchise Professionals Group, Red Boswell is our guest. Based upon his insight from his experience working with third-party sellers, Red shares his perspective on how candidates can greatly benefit by understanding the value of the Franchisor / Franchise Consultant relationship. Red also provides input on the growing home-based sector of franchising and how the Franchise Consultant helps close the gap often filled by the candidate’s lack of personal experience with the brand.
Franchising & You airs every Saturday at 9:30 AM EDT / 8:30 AM CDT with each segment available on-demand. Listen here.