Gen Z wants to 'shop with brands that are consistent with their values', says ICSC CEO
Many retailers are trying to lure Gen Z consumers. According to a new survey from the International Council of Shopping Centers, Gen Z is price-conscious, but is also looking to buy from brands whose values are consistent with their own. In an interview with Yahoo Finance Live, ICSC CEO Tom McGee also discusses the state of commercial real estate, saying the demand for suburban retail space is "exceptionally strong."
The use of physical space has evolved. And so retailers are using it, yes, for traditional shopping, but also to fulfill online orders. Whether that's Click and Collect, people coming into the store to pick it up, or shipping from stores.
TOM MCGEE: I still think experience is super important. I mean, there was concern around the focus on experience when you're in the middle of a pandemic, obviously, because that creates crowds and so forth. I think that we've moved beyond that. And I think having a-- curating a mix of good retail space that provides products as well as services is still really important.
And we recently did a survey of Gen Zs, which we focused upon folks between the ages of 16 and 26. And it's fascinating just to learn a whole host of things around that generation that I think is quite positive, you know, holistically. But one of them is they really value going to physical stores and having that experience.
