शैडोइंग अभ्यास: How Gen Z Is Reviving U.S. Shopping Malls - YouTube के साथ अंग्रेजी बोलना सीखें

I typically am an independent person, but I love going to the mall with someone. I love going to the Apple Store and buying an iPad with a friend, or I love going to Abercrombie and getting a camouflage sweatshirt with a friend.

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Despite a number of closures, U.S.

malls are making a comeback due in part to a surge in younger shoppers.

Nearly 60% of shoppers, ages 18-to-34, say they shop at the mall often or sometimes, compared with just 48% of 35-to 54-year-olds.

Members of Gen Z born between 1997 and 2012, are spending money in physical stores at a similar rate to their grandparents.

What retailers have learned is that that the store can be used not just for traditional shopping, it can be used as a mechanism to fulfill online orders and vice versa.

It's actually more convenient for me to just go to the store, try on the item.

If it doesn't fit, I can just return it right then and there, you know, instead of having to go to UPS, send it back, waiting another 5 to 7 business days.

Malls are also pivoting from traditional department stores to providing an array of entertainment options and leisure activities.

Over the past decade, Macy's has closed more than a third of its stores.

Born into a digital world and known for working, shopping and dating online, Gen Zers spend on average six or more hours on their phones daily.

One of the other funny things about Gen Z is that they're so social media savvy that they love to post about experiences they have, including shopping. One of the reasons why they're going to malls is because they want to have the bags they can show off on TikTok of the haul they had from the mall, and if they shop online, they have a bunch of cardboard boxes rather than branded bags.

The U.S. is home to an estimated 1,226 malls, 7% less than 2017.

So can younger shoppers help save the traditional brick-and-mortar mall?

CNBC went to Freehold Raceway Mall in New Jersey to find out.

Lindsey Hyams is a 23-year-old from Marlboro, New Jersey. Her shopping journey begins online.

I typically like to shop online first because I like to get the experience of looking through a whole entire catalog, a whole, entire website. My favorite app is called Locker, so I can actually collect all the items that I want on an app and then go into a store like Aritzia, Zara, Abercrombie, American Eagle, and I can go in and I can actually shop all of my photos or all of my collections. But it often ends at the mall.

Freehold Raceway is one of over two dozen new Jersey malls with over 200 stores and restaurants.

When you come to the mall, what's your typical day like?

I always stop at Starbucks because I definitely need some caffeine, a breakfast sandwich.

I typically do like to shop in the morning or like right before the mall closes.

Gen Zers like Hyams, say they like to shop in person because it allows them to touch and feel what they are buying, and they avoid shipping charges.

There are about 69 million members of Gen Z.

They make up about 20% of the U.S.

population. The group has a spending power of about $150 billion.

Do you ever buy online and then pick up at the mall?

Yeah. For Zara all the time.

Yes. I love doing that for Zara for two reasons, one, it's free shipping.

Two, it comes really fast, so it's here in 1 to 2 days.

And then also if it doesn't fit, I could just return it.

Some of the top shopping destinations for Gen Z include department stores like Macy's, Bloomingdale's and JCPenney. Luxury retailers like Gucci and Ralph Lauren, and specialty retailers like Express, Abercrombie and Apple. In addition to speed, shopping in store comes with other perks. I've heard from some people that have researched Gen Z that some of it's also instant gratification and looking for a quicker way to get what you need. Does that ring true to you?

I'd rather just drive the 25 minutes and go pick up the sweatshirt, or I'd rather go pick up the pair of jeans.

And it's an activity they can do with their peers.

60% of Gen Z respondents say they visit malls to socialize or meet friends.

So many of the Gen Z shoppers I spoke to said there's something about the mall and its simplicity that brings back a lot of nostalgia.

The touching and feeling items, the walking around the sights, the smells.

My cousin's coming home for college and our first trip is going to Short Hills. We're going to go to Aritzia.

We're going to have our day.

We're going to get coffee. We're going to get lunch at Bloomingdales. So for us, it's a place that we actually can create experiences at.

After living through two major economic crises, the Great Recession and the pandemic, Gen Z is budget conscious and prefers discount retailers like TJ Maxx and Target, dollar stores like Dollar General, and fast fashion retailers like Zara.

The group also frequents thrift stores and Facebook Marketplace. But they can also be heavily influenced by what they see online, with 85% of respondents from one survey saying social media has an impact on their purchasing decisions.

Abercrombie & Fitch, a staple of 90s fashion known for dimly lit stores and controversial marketing tactics, has seen a turnaround in part by leaning into that online experience.

The company includes its namesake chain, and Hollister.

You know, the kids still like to come to the mall, so even though they may start their purchase online or on their phone, they do complete it a lot of times in the mall.

Sometimes they'll find us on social, they'll click into our apps, or they'll click into the mobile web and start looking around. They'll save a basket, and then they'll come into the store and say, "Okay, I have these 4 or 5 products I want to check out. I'm going to try them on.

I'm going to feel them. I'm going to touch them".

In-person sales are a bigger business for Hollister, which caters to Gen Z.

Digital sales at the Abercrombie brand make up 60% of revenue in fiscal year 2023, compared with 30% at the Hollister brand.

The company said teen customers prefer to visit in store. Shares of Abercrombie & Fitch are up about 75% this year, well above the S&P 500.

What we want to do, what we try to do is that whenever they lift their head up from the phone, you know, these I have teens, they're always staring down at the phone, whenever they lift up, we want it to be a seamless move into that store. So, when you think about the photography that we see online, we want to bring that into the stores.

We have video online, we want to bring that into the stores.

We want those stores to be light and bright, easy to navigate.

The top clothing brands for Gen Z include Nike, American Eagle and Lululemon.

For decades, mall culture was a dominant part of life for American teens.

Cult classic films like "Fast Times at Ridgemont High", "Mallrats", and "Clueless" epitomized the meet and hangout culture of that era.

Malls were also a place for teens to get a job.

Teen employment in the 1970s, 80s and 90s was almost double what it has been in recent years, but times have changed.

Today, almost half of Gen Z teens said the place where they can be found almost constantly is online.

Over half of U.S. teenagers say they spend at least four hours a day on social media.

About a third of Gen Z respondents reported poor mental health in a recent survey, compared with just 14% of Gen Xers and 7% of baby boomers.

Shopping for some of them might be an opportunity to go into a store, have a real life experience.

Many Gen Zers considered the mall a third space that isn't work or home. Gen Z is becoming an important audience for malls and for retailers.

These teens and twenty-somethings are starting to make money. They're getting jobs, they're graduating from college, and they're entering their career years. To try to attract Gen Z shoppers, Simon Property Group, the nation's biggest mall owner with about 195 U.S.

malls and shopping centers, recently launched an ad titled, 'Meet Me at the Mall' on Netflix, TikTok and Instagram. The ad, heavy on 80s nostalgia, depicted young adults dancing and roller skating at the mall.

Other mall owners are leaning into experience and entertainment venues like Dave & Buster's.

Clearly, what you've seen is a move towards more experiential offerings food and beverage, hospitality, etc..

That shift is happening as big anchor stores like Macy's, Lord & Taylor, JCPenney and Sears have downsized or disappeared from malls entirely.

One of the biggest changes coming to U.S.

malls in the coming years is that Macy's is closing so many of its stores across the country, and that's a huge footprint in a lot of these malls.

For mall owners, that could be an opportunity to replace that space with a store or an experience that will appeal to a younger shopper. But it's not a guarantee if they don't come up with something trendy or unique, that mall traffic could die off. An estimated 2,000,000 square feet of mall space was demolished in 2022.

A lot of people say malls are dead, or malls are dying.

They don't have any relevance. What would your response be?

I definitely don't think that they're dying.

I think that malls are just evolving.

Every time I go to a mall, they're definitely thriving.

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