American Millennials Could Shake Up Retail
According to an article from Business Insider, an emerging American trend could mean bad news for retailers like Macy's, Kohl's and J.C. Penney.
Millennials are spending more on expenses like rent, cellphones, and personal services than young people a decade ago. This leaves less money for buying clothes, according to a recent report by Morgan Stanley.
Macy's CFO Karen Hoguet told analysts that while some products, like cosmetics, are selling well with the younger set, today's consumers had priorities other than clothing and housewares.
To read this article in its entirety, click here.
Millennials are spending more on expenses like rent, cellphones, and personal services than young people a decade ago. This leaves less money for buying clothes, according to a recent report by Morgan Stanley.
Macy's CFO Karen Hoguet told analysts that while some products, like cosmetics, are selling well with the younger set, today's consumers had priorities other than clothing and housewares.
To read this article in its entirety, click here.