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Retail To Shift by 2015

HOLLYWOOD, FL- Aging boomers will propel changes in size and layout of stores, speaker says at the ICSC Fusion conference.

By Debra Hazel | Updated on March 31, 2009

HOLLYWOOD, FL-Expect retail stores to be more polarized, smaller, and more targeted, according to a speaker at ICSC’s Fusion Conference, being held here.

Forced to market to an overall audience that is both older and younger, richer and more cash strapped, and tech-savvy and decidedly not, retailers must adapt their approaches, layout and store sizes to accommodate an ever-growing dichotomy, said Al Meyers, senior vice president of business development of TNS Retail Forward, Plano, TX.”Retailing will change dramatically over the coming years, and by 2015, you won’t recognized the retail industry,” Meyers said.

As they age, Baby Boomers are shifting from buying products to focusing on travel and services, Meyers noted, even as Generation Yers are beginning to buy homes and have children. But Gen Y-ers have a different attitude about what should be the start of their peak spending years.

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