Melissa Repko is a retail and consumer reporter for CNBC.com.
Department stores are aging — and so are their customers. For over a century, the stores won over multiple generations with a promise to sell shoppers a wide variety of everything. For many Millennial and Gen Z consumers, that hasn’t been enough — especially as they discover items on social media, and specialty retailers, big-box stores and online players steal away sales.
At the same time, Macy’s is trying to go where younger shoppers are, including suburban strip malls and beauty aisles. The company plans to open up to 30 of its smaller off-mall Macy’s stores over the next two years. The locations are roughly one-fifth the size of its traditional mall stores and typically next to grocers, big-box stores and off-price retailers, which have steadier foot traffic.
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