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Millennials at forefront of shift toward 'experience-based' spending, driving outperformance at high-quality malls and lifestyle centers

from MetLife Investment Management

The millennial generation is the largest in U.S. history and will heavily influence the fortunes of commercial real estate and the retail sector for the next half century, according to The Age of Experience-Based Retail, a new study by the research arm of MetLife Investment Management. The millennial preference for acquiring experiences and memories over material goods will play a significant role in determining which retail formats will outperform in the future. The study concludes that high-quality malls and lifestyle centers are best positioned to capitalize on the shift toward experience-based spending. more

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