Commercial Real Estate Advisors

Generational Shoppers – The Millennial

Posted by on Dec 2, 2016 in Austin, CCIM, Commercial Real Estate, CREW Austin, CTCAR, IREM, Newsworthy, Texas, Uncategorized |

Having been in the commercial real estate business for 30+ years, and a shopper myself, I recognize that different generations behave and respond differently.  Needs, convenience, disposable income, time all things to consider.  Each generation thinks the next one has it ‘easier’, although maybe it’s just DIFFERENT.  Shopping centers, malls, town centers, strip centers – all have been around for a long time, and have seen style changes.  The thing that seems to be consistent is the desire for convenience.  But convenience can have shades, too.

Everyone wants to talk about The Millennial — how they think, behave, respond.  I’d like to say keep in mind that the NEXT generation behind The Millennial is going to be different, too!  People behave in cycles.  We have a new president with very different ideas of how the world should be — and change is the constant.  SO, I’d say pay attention to the demographics and shifts in population, spending, housing, employment for the area where your real estate is — it’s not just about The Millennial — it’s about the individual consumer.

This is an interesting snapshot into the make up of The Millennial, if you are interested.  Thank you, CBRE!