Millennials are the merry murderers of the 21st century, slaying everything from golf to weddings. After all, they’re simply more interested in traveling to Third World countries or dining exclusively on avocado toast and gourmet coffee than being proper beer-drinkin’, homeownin’, Wal-Mart shoppin’ Americans. The biggest victim is the great American institution of retail, which millennials simply refuse to open their slim wallets to save.
I jest, of course. But whether or not millennials should be blamed or rewarded for helping the decline of overpriced department stores or questionably-sourced jewelry chains matters not. Millennials aren’t killing retail — they’re transforming it.
Is Retail Dead?
It turns out millennials should be absolved of (most of) their alleged crimes, because retail isn’t actually dead. First, it’s mostly department stores that are suffering, while mass-market retailers, “fast fashion” stores, and discount-oriented chains such as TJMaxx are thriving with millennials. The problem with department stores is that they don’t reflect how people shop. Today’s customers, millennials in particular, aren’t looking for a place in which decisions are made for them. They want to have a customized experience, and that includes bargain-hunting and finding unique items.
