# How Gen Z consumers and the 'trust economy' are changing the mall experience

- **Source:** EdgeProp Singapore
- **Published:** 2026-07-14T10:33:17.000Z
- **Author:** Atiqah Mokhtar
- **Original:** https://www.edgeprop.sg/property-news/how-gen-z-consumers-and-trust-economy-are-changing-mall-experience
- **Topics:** Commercial & Industrial, Transactions & Deals, Regional Markets

## Featured rationale

Demand for trusted, experience-led retail may encourage landlords to adjust tenant mixes, leasing structures and designs toward interactive stores that support engagement and repeat visits.

## AI summary

A 2023 survey found 64% of Gen Z respondents preferred in-store shopping, while Asia-Pacific retail pop-ups generated about US$4.8 billion in 2025.

## Original article

The physical retail landscape is evolving, as a new generation of consumers seeks a different kind of shopping experience, according to Cushman & Wakefield.

In a July 14 release, the company highlighted that Gen Z consumers are leading the return of shoppers to stores. A 2023 survey of Gen Z shoppers by L.E.K. Consulting, a global consultancy firm, found that 64% of the group preferred in-store shopping, beating millennials, Gen X and baby boomers.

The shifting demographic coincides with the rise of the “trust economy”, where trust is the primary currency and the key differentiator for businesses. In today’s world, where businesses compete for users’ attention on social media, consumers are looking for brands they believe in.

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A large part of that credibility is being built and validated through customers’ experience in-store. “Consumers are forming opinions before they enter a store, which means the store has to deliver on a promise that has already been made online,” said Sona Aggarwal, managing director and head of retail sales and strategy for Asia Pacific at Cushman & Wakefield.

As a result, landlords and retailers are pushing to make physical stores multi-functional environments where brands “drive participation, storytelling and ongoing engagement with consumers”, she added.

Changes include rethinking mall tenant mix, leasing models, programming and spatial design. In Asia Pacific (Apac), retail pop-ups are also gaining prominence, generating around US$4.8 billion ($6.2 billion) in revenue in 2025, based on data from Market Intelo.

In the region, South Korea serves as a clear example of how the retail landscape is changing, with shopping destinations such as Myeongdong and Seongsu offering “experience-led ecosystems” that appeal to both domestic and international shoppers. “The integration

of beauty, wellness and cultural retail is changing how space performs, with stores designed to drive engagement and repeat visits rather than just transactions,” said Suki Kim, head of research, South Korea at Cushman & Wakefield.

Meanwhile, physical spaces in the luxury retail segment are also being reshaped by changing consumer profiles. Cushman & Wakefield projects that by 2040, Gen X and “Next Gen” (referring broadly to younger cohorts, including millennials, Gen Z and Gen Alpha) will make up 80% of the global ultra-high-net-worth population.

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These generations, whose purchasing decisions are shaped by global exposure and digital ecosystems, are increasingly seeking meaningful, experience-driven retail. This, in turn, is underpinning luxury retail environments that offer exclusivity and personalised interactions.

“Luxury brands are leading the way in relationship-driven clienteling, which is transforming the role of retail sales associates from transactional sellers into long-term personal advisors,” said Aggarwal. “This clienteling approach is directly reshaping storefronts as well, with high-end retailers increasingly carving out dedicated private suites.”

## Chinese translation

> Translation model: grok

### Z世代消费者与“信任经济”如何改写商场体验

年轻消费者正在寻找他们信任的零售品牌，而信任则通过店内体验得以验证。

据Cushman & Wakefield，实体零售格局正在演变，新一代消费者追求不同的购物体验。

该公司在7月14日的发布中指出，Z世代消费者正引领购物者回归实体店。全球咨询公司L.E.K. Consulting于2023年对Z世代购物者的调查发现，该群体中64%更偏好店内购物，高于千禧一代、X世代与婴儿潮一代。

人口结构变化恰逢“信任经济”兴起——信任成为主要“货币”，也是企业的关键差异点。在企业于社交媒体争夺用户注意力的当下，消费者寻找的是他们真正相信的品牌。

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很大一部分公信力，正是通过顾客的店内体验建立并验证的。“消费者在进店前已形成看法，这意味着门店必须兑现已在线上作出的承诺，”Cushman & Wakefield亚太区零售销售与策略董事总经理兼主管Sona Aggarwal表示。

因此，业主与零售商正推动实体店成为多功能环境，让品牌“驱动参与、叙事以及与消费者的持续互动”，她补充道。

变化包括重新思考商场租户组合、租赁模式、活动编排与空间设计。在亚太地区，零售快闪店亦日益重要，据Market Intelo数据，2025年创造约48亿美元（约62亿新元）收入。

在该区域，韩国是零售格局如何变化的清晰例子：明洞、圣水等购物目的地提供“体验导向的生态系统”，吸引本地与国际购物者。“美妆、健康与文化零售的融合，正在改变空间的表现方式——门店设计更注重驱动参与与回头客，而非仅仅完成交易，”Cushman & Wakefield韩国研究主管Suki Kim说。

与此同时，奢侈品零售的实体空间也因消费者画像变化而重塑。Cushman & Wakefield预计，到2040年，X世代与“下一代”（泛指更年轻群体，包括千禧一代、Z世代与Alpha世代）将占全球超高净值人口的80%。

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这些世代的购买决策受全球视野与数字生态影响，日益追求有意义、体验驱动的零售。这反过来支撑起提供专属感与个性化互动的奢侈品零售环境。

“奢侈品牌在关系驱动的客户经营（clienteling）方面走在前列，正把零售销售顾问从交易型销售者，转变为长期私人顾问，”Aggarwal说。“这种客户经营方式也直接重塑店面：高端零售商日益划出专属私人套间。”