If the children are our future, so, apparently, is a lot of urban living. Recent headlines have Millennials leaving the suburbs behind for the nation’s cities, both big and small. They’re less likely than their parents to get their driver’s license or own a car. They also have a real aptitude for technology. All of which is fine, until one remembers how much retail has relied on the suburban mall shopper.
It might be clear around the other side of the world, but China’s appreciation of that iconic American product — the denim jean — is strong. Yet indicators show there’s even more room for growth, as long as the brands know what sets the Chinese consumer apart.
This past holiday season, the American consumer could have been called anything from finicky to punctually challenged. But at the end of the day, they quit their procrastinating and spent well, to the tune of a 7.9 percent gain over last year, according to MasterCard SpendingPulse. That number exceeded pre-holiday predictions of between 3.5.-to-5 percent increases, leaving retailers to consider what went well (mobile shopping) and what needed work (in-store pickup), and how to better counter Mother Nature next year.