Millennials will buoy retail in 2017
Noted retail real estate expert Faith Hope Consolo has high hopes for 2017, predicting that bigger-spending millennials and recession-proof retailers will keep sales humming on high streets and in malls, if not in department stores.
“Millennials are going to start shopping differently this coming year,” Consolo told Chain Store Age. “It used to be they’d spend up to 75% of their disposable income on food, but that was a fad. This year, they will start spending more on fitness and fashion.”