CJ Follini, NYU real estate professor, joins Real Assets Adviser editor Mike Consol to discuss how retailing is being reshaped by technology, convergence and hospitality.

Give us an update on the current state of U.S. retailing.

Young consumers, especially Gen Z and millennials, are changing the retail game in ​several ways. They’re influencing everything from bargain hunting to the luxury market.

How are young consumers changing the retail business?

Gen Z and millennials are mixing online and in-store shopping, turning to social media for what to buy, caring more about sustainability, and adopting new payment methods. Even though they’re digital first, 38 percent of their shopping still happens in stores. Gen Z loves browsing in person and prefers buying food and drinks offline. But they’re just as comfortable shopping on their phones, and 58 percent have bought something they spotted on social media. In