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Still, if a tweet has the capacity to move that kind of capital, how else will this generation move markets and shape industries?

Malls

Given their love of digital life, the first expected victim of teen spending preferences is brick-and-mortar retail. America’s malls have been closing at a record pace as e-commerce becomes the preferred mode of shopping for millennials and Gen Zers. More than two-thirds of U.S. malls saw a decrease in national retailers in 2018, according to a report from property research firm Green Street Advisors LLC.

Retailers are grappling with young Americans’ demand for personalized, digitally augmented shopping experiences. An astounding 93 per cent of Gen Zers prefer to shop without the help of a sales associate, according to a 2017 survey by Adyen NV, a global payments processor. But only 19 per cent of retailers can provide such an experience, according to the IBM survey of Gen Zers.

The apparel industry at large is already dying. In 1977, clothing accounted for 6.2 per cent of U.S. household spending. Today, that number has halved to 3.1 per cent, according to government data. Even fast-fashion stores, which have made clothing cheaper, are seeing slower growth. Hennes & Mauritz AB is opening fewer H&M stores and struggling to sell unwanted products in the stores it currently operates as young customers increasingly purchase clothing online.

Brands that have historically marketed to teens, which include Abercrombie & Fitch Co. and Urban Outfitters Inc., have seen a 32 per cent drop in the number of store locations in North America since 2016, according to Bloomberg Intelligence. Retailers Aeropostale, Pacific Sunwear and American Apparel all filed for bankruptcy in the last two years, and more are expected this year.