A sign marks the location of a Nordstrom store in a shopping mall on March 20, 2024 in Chicago, Illinois.
Scott Olson | Getty Images
Department stores may be falling out of favor with today’s younger consumers, but there’s a reason older shoppers keep coming back.
Whether it’s more generous return policies, promotional events or deep discounts, “if you can learn the benefits of what a store brings you, it creates a much greater experience,” said Marshal Cohen, chief retail advisor for market research firm Circana.
For example, if a sales associate doesn’t have an item you want in stock, often they’ll get it and ship it to you at no cost, Cohen said — “that’s a big perk.”
And yet, for younger shoppers, the mentality is “I don’t want to shop where my mother shops,” he said.
‘The tiktokification of retail’
To be sure, at Macy’s and its subsidiary Bloomingdale’s, for example, the majority of customers are above the age of 45, according to new Consumer Edge data.
Baby boomers are also much more likely to say in-store shopping is their most common way of making purchases, compared with Generation Z, or those born between 1997 and 2012, according to a Capital One report from March.
“The younger generation grew up online,” Cohen said. “The challenge for department stores is to break that paradigm.”
Social media plays a big role in how younger consumers make purchases, added Oliver Chen, a retail analyst at TD Cowen. It’s a trend he refers to as “the tiktokification of retail.”
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But while shopping primarily online may seem quick and convenient, it does come with extra hassles.
It can mean relying on a practice known as “bracketing,” or ordering multiple products in different sizes or colors with the intention of keeping a few and returning the rest — adding more time and cost to each transaction.
As online retailers try to keep those returns in check, most have rolled out stricter policies, including charging a return or restocking fee, according to a 2023 report from return management company Happy Returns.
But even now, some department stores have held on to the more generous policies of yesteryear, with longer return windows or free shipping, and that has gone a long way when it comes to building brand loyalty.
“There are some savings opportunities that you have when you shop in person that you probably wouldn’t have online,” said Edgar Dworsky, founder of ConsumerWorld.org.
‘It’s a generational thing’
Pedestrians carry Bloomingdale’s shopping bags while walking in New York.
Craig Warga | Bloomberg | Getty Images
Although Bloomingdale’s shortened its return window to 30 days from 90 days last year, shoppers appreciate the other perks, according to Nancy Quinn, a personal stylist at the flagship store in New York City.
“The biggest thing that Bloomingdale’s offers is customer service, that is really where we shine,” Quinn said.
Quinn meets her clients, who are mostly women between the ages of45 and 70, by appointment to help them find clothing for everyday or special occasions. She said she will often waive the shipping fee or send the purchases via messenger at no charge to locations in Manhattan. At times, she has even hand-delivered an item — also as a complimentary service — if the customer is local and under a time constraint.
“Those are things that we try to do to make sure people know how much we appreciate the business,” Quinn said. At many high-end department stores, personal stylists work on commission and the assistance they provide is free for customers.
Nancy Quinn is a personal stylist at Bloomingdale’s flagship store in New York City.
Courtesy: Nancy Quinn | @qstylepr
Quinn’s appointments book up especially quickly when Bloomingdale’s runs promotional events, such as “friends and family,” which is typically a 25% discount across many brands.
Still, Quinn says younger customers are less likely to shop with her.
“It’s a generational thing,” Quinn said. “A lot of younger people are shopping online.” Alternatively, “the women I am meeting are really ready to make an investment in themselves and their wardrobe.”
Wealthy shoppers give stores a boost
To be sure, U.S. department stores have been in a slump for years. Retailers like JCPenney and Macy’s have struggled to compete against online retailers and smaller brick-and-mortar stores that can better adapt to changing consumer preferences.
“Small new brands that are emerging have just as much marketing power because the internet levels the playing field,” said Circana’s Cohen.
However, department stores aren’t dead yet.
Last year, Macy’s said it would close some of its namesake stores and open more Bloomingdale’s locations. According to the company’s quarterly report, Bloomingdale’s performed better because of its focus on the luxury brands that appeal to higher-income shoppers.
“Selective higher-end stores” are outpacing the competition, in part because “middle- and lower-income consumers have been disproportionately negatively impacted by the rising cost of necessities,” said TD Cowen’s Chen.
In an interview last month, Macy’s CEO Tony Spring told CNBC that the consumer remains resilient and continues to spend on new items and fashion, despite concerns about tariffs.
The challenge for department stores is to bring shoppers in, even as managing inventory and pricing gets increasingly difficult, Chen said. “It is ironic because everybody does love stores and humans want connection.”
The United States Department of State has officially implemented a revised visa policy introducing a mandatory posting requirement for caution payments of up to $20,000 on select foreign travel applications. Under the updated regulatory framework, consular officials are authorized to require temporary nonimmigrant visa applicants from targeted foreign countries to post a refundable financial bond of $20,000 as a condition for visa issuance. The policy mechanism is designed to address diplomatic concerns regarding high overstay rates among temporary visitor, business, and educational visa categories.
The caution bond pilot program applies selectively to foreign nationals from designated countries whose diplomatic entities record historical visa overstay rates exceeding established federal thresholds. Under administrative guidelines published by the State Department, the full financial deposit is posted directly to a dedicated federal escrow account prior to final visa issuance. The entire caution payment is automatically refunded to the applicant upon verified proof of timely departure from the United States in strict compliance with the authorized duration of stay. Conversely, failure to depart within the legal timeframe results in full forfeiture of the posted financial bond to the United States government.
Diplomatic representatives and travel policy experts have expressed varying perspectives regarding the operational implementation of the caution bond system. Administration officials emphasize that the measure serves as an effective, market-based incentive to enforce international travel compliance and preserve domestic immigration security standards. However, international trade organizations and foreign diplomatic missions have raised concerns regarding the financial burden imposed on legitimate business travelers, foreign students, and commercial partners from developing nations.
The United States finalized the rule to make the temporary visa bond program permanent, taking effect on August 3, 2026. The updated permanent regulation replaces the prior 12-month pilot, eliminates the lowest $5,000 tier, and raises the maximum required bond amount to $20,000 for specific B-1/B-2 business and tourist visa applicants.
Here is the list of the 50 countries on the list as o August 3, 2026
Retirement planning strategies are evolving in 2026 to address increased life expectancies, shifting dynamic market conditions, and the transition away from traditional defined-benefit pensions. Individual investors and financial advisors are abandoning rigid retirement models in favor of flexible, multi-asset strategies designed to mitigate longevity risk and preserve purchasing power over multi-decade retirement horizons.
Mitigating Longevity Risk with Dynamic Asset Allocation
As average life expectancies extend past eighty-five years, one of the primary financial risks facing retirees is outliving their accumulated wealth. Traditional fixed income allocations—such as the standard 60/40 equity-to-bond portfolio—are being reevaluated to ensure portfolios generate sufficient capital growth alongside reliable income.
Financial planners recommend maintaining a meaningful equity allocation throughout retirement to offset long-term inflation erosion. High-dividend equity funds, global real estate investment trusts (REITs), and inflation-indexed Treasuries are combined to create diversified portfolios that deliver both growth and income stability.
The Transition to Dynamic Withdrawal Strategies
The classic “4% safe withdrawal rule” is increasingly replaced by dynamic withdrawal strategies that adapt annually based on market performance. Under a dynamic withdrawal framework, retirees adjust their annual distribution rates within pre-set caps and floors:
– Market Upside: During strong market returns, retirees can increase discretionary spending or fund family legacy gifts.
– Market Downturns: During market pullbacks, spending distributions are temporarily reduced to prevent sequence-of-returns risk and preserve core investment principal.
Guaranteed Lifetime Income Options and Deferred Annuities
To establish a guaranteed baseline for essential living expenses, individuals are incorporating modern fixed-indexed and deferred longevity annuities into their broader retirement architectures. Modern annuity structures offer competitive return caps, transparent fee schedules, and inflation-adjustment options.
By funding essential expenses—such as housing, healthcare, and insurance—with guaranteed income streams from Social Security, pensions, and annuities, retirees can manage discretionary investment portfolios with greater flexibility and lower emotional stress during market volatility.
Actionable Steps for Future Retirees
1. Calculate Baseline Retirement Expenses: Determine fixed living costs and map guaranteed income sources to cover essential expenditures.
2. Adopt Flexible Withdrawal Rules: Implement dynamic spending rules to protect investment principal against market downturns.
3. Incorporate Inflation-Protected Assets: Maintain exposure to dividend-growing equities and inflation-indexed bonds to safeguard long-term purchasing power.
As the largest intergenerational transfer of wealth in history accelerates, high-net-worth families, entrepreneurs, and individual investors are placing heightened emphasis on comprehensive estate planning, family governance, and asset protection. Preserving capital across generations requires a balanced approach combining tax-efficient legal structures with open family communication and financial literacy education.
Optimizing Estate Tax Exemptions and Trust Structures
With potential modifications to federal estate tax exemption thresholds on the horizon, proactive estate planning is essential for high-net-worth households. Estate planning attorneys and wealth advisors are establishing multi-generational trust structures to transfer wealth efficiently while minimizing estate and gift tax exposure.
Popular structural strategies include:
– Irrevocable Life Insurance Trusts (ILITs): Utilizing life insurance proceeds to provide liquidity for estate tax obligations without expanding the taxable estate.
– Grantor Retained Annuity Trusts (GRATs): Transferring rapidly appreciating assets to beneficiaries with minimal gift tax consequences.
– Dynasty Trusts: Preserving wealth across multiple generations while providing long-term asset protection from creditor claims and legal liabilities.
Establishing Family Governance and Financial Education
Legal and financial structures alone cannot guarantee long-term wealth preservation without effective family governance. Financial advisors report that a significant percentage of multi-generational wealth dissipation stems from lack of communication and inadequate financial preparation among heir generations.
Families are establishing formal family governance frameworks, including periodic family meetings, written mission statements, and structured philanthropic foundations. Involving younger family members in charitable grant-making and investment discussions fosters financial stewardship and prepares heirs to manage family assets responsibly.
Digital Asset Custody and Legacy Planning
In today’s modern economy, estate planning must extend beyond physical real estate and traditional brokerage accounts to encompass digital assets. Comprehensive estate plans now include detailed inventories and legal access protocols for corporate domain names, intellectual property, digital media rights, and cryptocurrency holdings.
Fiduciaries and estate executors should be provided with secure, encrypted access mechanisms and clear legal authority to manage and transfer digital holdings in accordance with the owner’s estate directions.
Practical Steps for Legacy Planning
1. Review and Update Estate Documents: Ensure wills, revocable trusts, and power-of-attorney designations accurately reflect current family structures.
2. Establish Structured Trusts: Utilize irrevocable trusts to protect assets from creditors and minimize future estate tax liabilities.
3. Create a Digital Estate Inventory: Document access protocols and legal permissions for all online accounts, intellectual property, and digital assets.
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