The Core

...shoppers have become more financially responsible, and that they’re looking to lead a less stressful life, spend more time with family, and travel.

The study, found that for 55 percent of women, their No. 1 priority is paying off debt, followed by saving (48 percent) and then vacations (35 percent). As shoppers, 8 out of 10 are simplifying how they take care of their homes and are making easier meals, seven out of 10 are adopting simpler beauty routines, and six out of 10 are spending less time shopping. Two-thirds of those surveyed are staying home more.

“This shift is really foundational and it’s deep in the soul and psyche of the American people,” WSL Strategic Retail CEO Wendy Liebmann said. “Here we are, eight years after the recession, 15 years after 9/11, and 20 years after Amazon, and the recognition is hitting [retailers] that this is fundamental.”

• Question: Will Millennials transform shopping? Over time, will they just become like their parents? Answer: Millennials are — and will — change shopping and retail in foundational ways.

Most stunning — and worrisome — is that half of shoppers said they are working to make their lives easier by spending less time shopping. (There’s another clue to retail’s dilemma). Half also said they’re spending less time on social media, and four-out-of-10 said they’re spending less time checking email and even turning off their mobile phones sometimes.