Despite being far more tech-savvy than previous generations, Generation Y, the 80 million strong cohort of Americans between the ages of 18 and 35, hasn't forsaken shopping in stores for online purchasing — as long as retailers keep their offerings "fresh" and interesting, says a new report from the Urban Land Institute (ULI).

Haven't these people heard of comparison-shopping apps? While a larger number of consumers have been drawn to luxury fashion courtesy of flash sale sites, new research from American Express Business Insights shows that consumers, Gen Yers in particular, are spending more of their dollars on full-price sites such as Neiman Marcus, Nordstrom and others. According to the research, flash sales sites experienced a 92 percent increase in dollar sales in 2010 and then a more modest 21 percent jump last year. At the same time, full-priced sites saw 2011 sales improve 25 percent on top of the 20 percent

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