McKinsey & Company is excited to announce a retail collaboration with Mall of America, Modern Retail Collective. Bringing multiple brands, technologies, store operations, and analytics together to unlock the future of brick-and-mortar retail.
McKinsey & Company , Sep 28, 2019
Modern Retail Collective
A store of the future
Bringing multiple brands, technologies, store operations, and analytics together to unlock the future of brick-and-mortar retail
Modern Retail Collective is a fully technology-enabled store in Mall of America – the largest retail and entertainment center in North America – where consumers experience new and emerging retail innovations as they shop. The store provides a dedicated and fully supported space for retailers to test and measure how innovations resonate with consumers throughout an interconnected space.From the moment they enter, shoppers encounter various opportunities to engage with technology –from virtually trying on products in augmented reality mirrors to scanning near field communication (NFC) tags to rapidly access product information from their phones without troublesome app downloads. Over time the store will offer a rotating roster of products and technologies to help retailers understand and create the best consumer experiences.
By combining advanced technology, experiences, and store processes with integrated back-end data analytics capabilities, Modern Retail Collective explores the questions that are top-of-mind for today’s retailers, such as the following:
- What is the profit-and-loss impact of a customer journey that integrates technology and experience in a store?
- What is the estimated payback period for next-generation technology?
- How does the store experience drive additional engagement and sales—during the visit and after?
To learn more about this exciting and innovative new store, please visit: https://mck.co/2lJgHop
