“Forget e-commerce as being the root cause for the widening gap between weak and strong shopping centers. MetLife, a major buyer recently of high profile retail centers, said the millennial generation is heavily influencing the fortunes of commercial real estate and the retail sector and will continue to do so for the next half century.”
“Millennials’ preference for experiences and memories over material goods will play a significant role in determining which retail formats will outperform in the future…”
“A retail location’s format and tenant mix remain among the most important factors in its success, the report claims. Well managed retailers with unique product offerings, high levels of service and quick delivery times will appeal to the millennial generation most.”
Citation for Article & Picture: Heschmeyer, Mark. “Experience-Based Retail Driving Outperformance of High-Quality Malls.” National Commercial Real Estate News. N.p., 22 June 2016. Web. 23 June 2016. http://www.costar.com/News/Article/Experience-Based-Retail-Driving-Outperformance-of-High-Quality-Malls/182706