Fashion District mall in Philadelphia
Diana Olick | CNBC
Millennials may have fled the malls, but brick-and-mortar retail is apparently more appealing to Generation Z.
People born between 1997 and 2010, particularly the teens in that group, are becoming big spenders, and they like to do a lot of that spending in actual stores, according to new research from commercial real estate firm CBRE.
Generation Z’s spending is now at approximately $143 billion per year, and they influence an additional $450.5 billion in spending by others, according to CBRE’s report, which uses data from eMarketer. While Generation Z spends a great deal of time online making purchasing decisions, 81% of them prefer to…