29 Boomer Brands Struggling In The Time Of Millennials

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Macy’s

Source: https://amp.businessinsider.com/

Macy’s has redesigned its flagship store in New York by adding an Instagram wall and a 3D printing area, but despite all of its attempts to get the millennials’ attention, the younger shoppers are not buying from the luxury department store. The American company even partnered with the eCommerce website Etsy and tried a tuxedo rental service targeted at millennials who needed clothes for special occasions such as weddings, but its sales and stocks have continued to fall, and it has no choice but to close more and more of its physical stores. However, even though the Net generation is known to prefer doing their shopping online, they aren’t completely turning their backs on brick-and-mortar stores. Rather, they’re skipping traditional stores with limited yet pricey selections like Macy’s. Millennials may form the biggest generation of buyers today, but their spending power is also weighed down by student loans and other financial obligations, so they have to be practical about how they spend their money. Unfortunately for Macy’s, their current and potential customers have access to a massive selection of online shops that offer not just the convenience of shopping from your home with orders getting delivered right at your doorstep, but also more choices at more affordable prices.