Millennials Aren't Buying What Sac County Thinks We Need
The Business Insider has a recent article about things that Millennials are not buying. On the list of what is declining because of the spending preferences of Millennials: fast casual dining, "breastaurants", fitness gyms, branch banks, big box home improvement stores, and mall department stores. What has Arden Arcade been blessed with, courtesy of our County's economic development strategy that claims to be focused on appealing to Millennials? Our plethora of fast casual dining choices (Applebees, Chipotle, Panera, Panda Express, Mod Pizza, Boston Market, Wingstop, etc.) is growing (e.g. Howe 'bout Arden Jersey Mike's, University Village Jimmy John's and Pieology) and is slated to expand now that the Arden Creek Town Center project has been approved. The Twin Peaks breastaurant on Howe is barely a year old. Our array of fitness gyms now includes the new Planet Fitness at Country Club Plaza.
Our branch banks are slowly devolving into ATMs and some homeless encampments. Will we be getting a Lowe's to go with our Home Depot or a different DIY where OSH used to be? Probably not. If Macy's, J.C. Penney and Sears are on borrowed time at Arden Fair, how likely is it that the closed Macy's at Country Club Plaza will become a new department store sometime soon? Meanwhile, would anyone care to guess whether the County is wishing for new big boxes and replacement department stores? ......Exactly.
The article also states Millennials shy away from spending on beer (expect more wine and spirits boutiques, not more convenience stores), motorcycles, and oil (as in cars and "gas stations"). Then please explain why Arden Arcade's automotive sales sites need to keep spreading off Fulton along Howe or Arden or El Camino. And what is the necessity for even more places to grab a cheap six pack of beer? The world of retail shopping is changing rapidly. It is beginning to be heavily influenced by the spending habits of Millennials. The spending habits of Baby Boomers used to drive the local economy, yet it sure seems sometimes like Sacramento County isn't quite aware that the 1970s, 1980s and 1990s are old news. Will Arden Arcade ever get the mixed use projects and lifestyle/people places that seem to be attracting Millennials now?