Tanger CEO Stephen Yalof on the Biggest Back-to-school Shopping Trends
As the back-to-school shopping season winds down, several notable trends have emerged. Social media is influencing what kids want. Parents are using AI to find bargains and physical stores continue to play a key role. While the season is expected to generate more than $103 billion in spending, consumers are being more deliberate and mindful about how and where they spend their money this year.
Stephen Yalof, chief executive officer of Tanger, said he is seeing this play out in real time across the company's 42 shopping centers and its 800-plus brand partners. Here, Yalof shares the key takeaways and trends of this year's back-to-school season.
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Sourcing Journal: What overarching trends are you seeing this back-to-school shopping season?
Stephen Yalof:Back-to-school is the second-biggest shopping event of the year, and Tanger has long been the destination for parents and students seeking brands at value. Families have been at our centers throughout the summer; they're not waiting for the Labor Day weekend. This is a trend we've seen growing and have stayed ahead of, moving up sales and discounts to meet consumers where they are.
Stephen Yalof, CEO of Tanger
SJ: Are you seeing more value-minded customers?
S.Y.:Absolutely, but that hasn't necessarily translated to pulling back, at least across our outlet centers. The consumer is being discretionary with purchases and looking for savings, which is right where Tanger sits. We provide brand at value, allowing parents to buy their kids the most popular items at a marked discount.
SJ: Would you agree that shoppers are seeking more in-store experiences?
S.Y.:Without a doubt. The vast majority of consumers are shopping or planning to shop in-store this season, and the in-person experience continues to shape what people ultimately buy. People still want to feel fabrics and try things on.
But more than that, we're seeing consumers view shopping as a social experience where they can interact with both store associates and friends. Gen Z in particular wants more than a transactional moment; they're looking for a unique, fun atmosphere.
SJ: What is the value proposition for consumers shopping at Tanger? The variety of retail brands available?
S.Y.:Our value channel is built for this exact moment — American Eagle, Lululemon, Sephora, Adidas, Ralph Lauren, all in one location, all providing value to our guests. But what also keeps our parking lots full is the Tanger loyalty program. We've gamified the shopping experience, creating additional discounts and personalized offers to those who opt in.
SJ: What makes Tanger a compelling destination for shoppers?
S.Y.:As consumers and shopping habits have evolved so have we, which is why Tanger centers have become day-to-day destinations in the markets they serve. Our tenant mix has expanded beyond footwear and apparel to include dining and entertainment as well as services like group fitness and health and beauty facilities.
Each of our 42 properties are carefully curated to serve its particular community. We bring in local concepts and coffee shops to sit alongside global brands. Tanger centers are places where family and friends can gather, our green spaces play host to everything from yoga classes to food truck rallies to high school battles of the bands.
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