How Millennials Will Reshape the Retail World
30 years from now, retail as we know it will be unrecognizable, thanks to the shift from Baby Boomers to Millennials. The mall of the future will likely include four trends, the Wall Street Journal reports. For starters, say goodbye to the layout that features clothing, electronics, general merchandise, and a casual food court. Expect more fitness centers, medical services, grocery stores, spas, and even schools in a safe, hygienic and climate-controlled space. Secondly, the artisanal goods movement—think farmers markets and Etsy—is here to stay, taking about 15% to 20% of the consumer economy. Expect clothing of the future to be personalized and tailored. And thanks to cellphones, food trucks, and farmers markets, retail will be more mobile. Soon, we'll be telling our kids about the old days before drones delivered our products. [WSJ]
