The space offers retailers the opportunity to work with McKinsey and Mall of America to test dozens of new technologies and discover what’s possible when multiple technologies, analytics and store operations work together to elevate in-store experiences. At the same time, shoppers can interact with retailers in new ways in-store and across a variety of channels.
Modern Retail Collective will be refreshed regularly to bring new technology, brands and experiences together to offer seamless and immersive end-to-end customer journeys in the largest retail and entertainment center in North America.
The store opened to the public on Friday, Sept. 27, and featured four fashion and beauty brands: Elevé Cosmetics, Kendra Scott, ThirdLove and type:A Deodorant. Technology and advisory participants include Chatter Research, Compass Marketing, ComQi, FaceCake, Farfetch, Flexa, Microsoft, MSM Solutions, Smartrac, Square, RetailNext and Zebra Technologies.
Through 2019, shoppers can experience the following, among others:
• Interactive mobile hotspots throughout the store providing single-tap access to product details and allowing customers to create a virtual basket as they go.
• Smart mirrors and fit predictor software allowing virtual trial of products outside the fitting room.
• Faster future payment options, including mobile and cryptocurrency capabilities.
“Retailers are experiencing many pressures as they navigate the evolving retail landscape. As a result, stores are closing left and right, with more than 8,000 US store closures an-nounced so far this year,” said Tiffany Burns, partner in McKinsey’s Atlanta office and retail stores practice lead, North America. “Modern Retail Collective will provide insights to retailers exploring opportunities to re-imagine the store through new in-store experiences and technologies that will enhance customer experience and overall store performance.”