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Hyams, who works in social media and marketing, illustrates one of the traits of Gen Z that may be surprising. Kevin McCrain, CEO of Brookfield Properties' retail business, said Gen Z craves unique experiences that they can share in person and through social media. One of the most surprising findings of her Gen Z research was a simple one: Despite growing up in a world where everything from schoolwork to dating takes place on the internet, almost every Gen Z person she surveyed or interviewed said they preferred to communicate in person. That compares with only 30% at the company's Hollister brand, which tends to attract Gen Z shoppers. Compared with older generations, Gen Z shoppers also have high expectations of how brands connect their online and offline businesses.
Persons: Lindsey Hyams, Shawn Baldwin, It's, " Hyams, Gen, EY, , Taylor, Sears, Polly, Hollister, Matthew Hoffman, Kevin McCrain, Z, Annie E, Roberta Katz, Tom McGee, McGee, Abercrombie, Fitch's Hollister, Lauren Spencer Smith, Alexander Stewart, Scott Lipesky, Lipesky, Princess Polly, Courtney Dres, Dres, ICSC, TJ Maxx, Hyams Organizations: CNBC, UPS, International Council of Shopping Centers, JCPenney, Longtime, Abercrombie, Fitch, Simon Property Group, Netflix, Brookfield Properties, Casey Foundation, McKinsey, Stanford University, ICSC, Abercrombie & Fitch, Ohio State, Media, Westfield Century, Body, Walmart, TJ, Target Locations: Marlboro , NJ, Marlboro , New Jersey, Chicago, Hollister, California, Columbus , Ohio, U.S, Scottsdale , Arizona, Los Angeles, Westfield Century City, discounters, Zara
Target , Kohl's and Best Buy each reported disappointing third-quarter results as early holiday deals fell short of meaningfully boosting their businesses. Choosy consumers have made the gulf between successful and struggling retailers even more stark heading into the holiday shopping season, said Neil Saunders, managing director of GlobalData Retail. That's a smaller year-over-year increase than the 3.9% jump from the 2022 to 2023 holiday season, when spending totaled $955.6 billion. Dick's and Abercrombie both hiked their full-year outlooks this week and said they expect a strong holiday shopping season. Kohl's warned it will have a deeper-than-expected drop in sales and announced a change in CEO ahead of the crucial shopping season.
Persons: Victor J, Fitch, Neil Saunders, Abercrombie, Scott Lipesky, Erik Nordstrom, Wall, John David Rainey, Rainey, Rick Gomez, Taylor Swift Organizations: Blue, Bloomberg, Getty, Walmart, Dick's Sporting Goods, Abercrombie, GlobalData, National Retail Federation, Nordstrom, CNBC, Target Locations: Clifton , New Jersey, U.S
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