What: NRF's annual web conference covered supply chain realignment, Gen Z behaviour, and the 2026 economic outlook. The headline: US retail is growing faster than its pre-pandemic average — but spending is concentrating at the top, and Gen Z is more AI-sceptical than AI-trusting.

Why it is important: For department stores, which serve a predominantly premium consumer base and operate across the categories where Gen Z influence is growing fastest, these findings have direct implications for assortment strategy, digital investment, and content authenticity. The persistence of the K-shaped spending pattern reinforces why luxury and premium retail continues to outperform the mid-market. Understanding how Gen Z uses AI as a discovery and scepticism tool, rather than a frictionless purchase driver, shapes how department stores should approach visual search, AI integration, and transparent communicatio

NRF: State of US retail & the American consumer takeaways