Minneapolis – According to Jeffrey Klinefelter, senior research analyst of locally based U.S. Bancorp Piper Jaffray, the key to successful lifestyle retailing is approaching the shopping experience from the consumers’ perspective.

Klinefelter believes lifestyle retailing should focus on brand awareness, fashion, and most importantly, Generation Y. This age group reportedly has more purchasing power than ever before and influences $250 billion in annual discretionary spending. Plus, they are the last demographic whose purchasing power will be decreased due to the fledgling economy, he said.