Malls wanting to market to Millennials need to add more dining and entertainment venues

Posted by: Jeff Fromm

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While it’s not uncommon to Millennials with their phone practically glued to their hands, that doesn’t mean they’re going to abandon brick-and-mortar shopping destinations in favor of shopping on their mobile phones.

Last week, the Urban Land Institute released a survey showing that Millennials still prefer malls over mobile shopping, largely because of the social and entertainment aspects.

Here are some tidbits about Millennial marketing from the survey:

  • 37 percent of Gen Y consumers said they love shopping
  • 48 percent of Millennial consumers said they enjoy shopping
  • 70 percent of females surveyed said they view shopping “a form of entertainment and something to share with friends and family”
  • 50 percent of men surveyed said they view shopping as entertainment and a social activity
  • Discount department stores are the retail destination Gen Y consumers shop at most
  • 45 percent said they spend more than an hour a day looking at retail websites
  • 46 percent said they dine out with others at least once a week
  • 25 percent said they dine out with others several times a week

While malls seem like inherently social atmospheres, mall owners may want to consider adding more restaurants and entertainment-geared businesses in order to continue to attract this cohort.

photo credit: mischiru via photopin cc

About Jeff Fromm

Jeff frequently speaks about marketing to Millennials to organizations such as the Association of National Advertisers (ANA), International Franchise Association (IFA), and the American Association of Advertising Agencies (4As), as well as private corporations. In 2011, he spearheaded the development of American Millennials: Deciphering the Enigma Generation, a Barkley report based on research conducted with Service Management Group and The Boston Consulting Group. Jeff has 25 years of hands-on experience marketing major brands, including SONIC, Hallmark, Build-A-Bear Workshop, KC Masterpiece, and Payless. Prior to joining Barkley, Jeff had his own consulting firm, which he sold in 2008.

View all posts by Jeff Fromm.

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