BLOOMINGTON, Minn. (FOX 9) - A Minneapolis-based corporate consulting firm is launching a cosmetics and fashion retail storefront featuring new technologies like smart mirrors in the Mall of America.
McKinsey & Company, a global management consulting firm, said it has partnered with the mall to launch a “live retail space” called Modern Retail Collective.
The area offers other retailers the chance to test store technologies, analytics and store operations in stores. Also, shoppers can use mobile hotspots, smart mirrors and faster payment options at the store.
McKinsey’s Retail Stores Practice Lead, Tiffany Burns, says more than 8,000 retail stores have closed so far this year in the United States, which is why the company is looking into the future of the retail landscape.
“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,” she said in a release.
The Mall of America, which hosts hundreds of retail stores in Bloomington, also sees the importance of evolving the retail experience.
“Mall of America recognizes the importance of evolving the consumer experience and has been leading efforts to help current and new tenants alike succeed in the ever-changing retail landscape,” said Jill Renslow, SVP of Business Development for Mall of America.
McKinsey and the Mall of America expect the store to open in early 2020.