It’s not your typical mall store.
Consulting giant McKinsey & Co., in collaboration with Mall of America, unveiled a laboratory-styled retail concept, called Modern Retail Collective, at the nation’s largest shopping mall. The store offers retailers the opportunity to work with McKinsey and Mall of America to test new technologies and “discover what’s possible when multiple technologies, analytics and store operations work together to elevate in-store experiences,” according to a company statement.
Modern Retail Collective, which opened on Sept. 27 and has about 2,500 sq. ft. of selling space, will remain open for at least 12 to 18 months. It will be refreshed every three to four months with new technologies, brands and experiences designed around a theme. (The first iteration of the store is designed around discovery.) Profits from all purchases will go directly to the retailers.