Today's retail environment is evolving at an exponential pace.
Technology is the catalyst. It's transforming everything we thought we understood about our consumers – what they buy, where they buy, when they buy, how they buy, and how they pay.
Consumers have become more knowledgeable, more demanding, and more empowered. They are beginning to expect more exciting interactions with physical products in-store, or an extension of the customer experience beyond the store, online.
Enter China: one of the world's most exciting, challenging retail markets.
With a rising consumer class and the widespread popularity of social media, Chinese consumers are setting shopping trends globally. Many say Shanghai is home to the country's most vibrant, tech-savvy consumers.
Currently, there are more questions than answers:
No one knows, yet, what the winning omnichannel business model will be – or what success looks like. What technologies best enhance the shopping experience? What services will tomorrow's consumers expect from retailers? And how do retailers need to adapt?
Explorium is a platform for businesses to rapidly test new omnichannel models, strategies, and technologies. It serves two primary objectives: to create a culture of experimentation within retail organizations, and to discover new retail propositions that meet the demands of the omni-enabled consumer.
Here, we identify and systematically track the changing preferences of consumers. Based on what we learn from each experiment, we move quickly onto the next iteration. The scale and intensity of our work here is unmatched.
Explorium is an initiative of the Fung Group.
The Fung Group is a privately-held multinational group of companies whose core businesses are sourcing, logistics, distribution and retail. The major shareholder is Fung Holdings (1937) Limited, a privately-held business entity headquartered in Hong Kong. The Group’s listed entities are Li & Fung Limited (SEHK: 00494), Global Brands Group Holding Limited (SEHK: 00787), Convenience Retail Asia Limited (SEHK: 00831) and Trinity Limited (SEHK: 00891). The Fung Group employs 46,800 men and women across 40 economies worldwide, with total revenue of over US$24.65 billion as of December 2014.
Given this wide reach, the Fung Group has a huge stake in understanding omnichannel not just for ourselves but for our businesses and business partners globally. Explorium is in collaboration with data technology leader IBM and brand activation company Pico. It has the potential to shape the future of retail.
SPACE • TECHNOLOGY • FACILITIES
Every visit to Explorium offers an exciting, curated shopping experience for our members.
It's a physical space packed with the latest retail technologies.
We focus on discovering new ways to combine traditional retail and new technologies, driving customer engagement and gathering consumer data. We're running experiments involving go-karts, drones, 3D printing, and virtual reality mirrors: Explorium members enjoy an interactive shopping experience unlike anything they've ever had before. Retailers are able to build better relationships, test targeted promotions and other innovations, and make smarter decisions.
Data is collected and obtained at every stage.
Combining in-store data with the information captured by motion trackers and location sensors, IBM technology provides businesses with a weekly dashboard of comprehensive analytics. Businesses use this data as a valuable resource in adapting and modifying their strategies to accommodate consumer needs.
Explorium is open to its members and their families on weekends.
Members are also informed of special promotions and experiments taking place in Explorium.
Follow our WeChat account
@Explorium for news and updates
Car or Taxi
2000 Yi Shan Road
Minhang District, Shanghai
He Chuan Road (合川路)
Explorium is available to all retailers and brands on a cost-recovery basis, and offers businesses the opportunity to test and develop new ideas with the right environment, tools, data and audience.
Reach out to our team at firstname.lastname@example.org and become a part of the learning community we have created here.