Future of Retail: Is It Coming Apart at the Seams? (RMS)

Executive Summary

Experiences Trump “Things”

• Over the next 5 years US consumer spending is forecasted to grow by 22%; non-essential categories, including vacations and dining out, will see the fastest growth, about 27% (Mintel)
• More than 3 in 4 millennials would choose to spend money on a desirable experience
• Experiences are what people use to define themselves across social channels