Netflix is a popular OTT platform that has grown widely and has a worldwide presence. The OTT platform has the majority market in the OTT platform and has the best shows which include The Witcher, Lucifer, Crown and many more.
They also have Netflix original movies which have a huge fan base. Netflix has made a recent announcement of launching a new platform called Netflix Shop. In this article let’s look at what exactly is Netflix shop and how Netflix plans to enter the e-commerce space with it.
Netflix Shop – Latest News
Netflix has announced the launch of its online e-commerce store called Netflix shop. The online store will be selling the Merchandise of the Netflix original series. The sales are expected to start with the famous Netflix original series that is Stranger Things and the Witcher.
The online store has been launched and Netflix shop is the first retail outlet that is owned and operated by Netflix which sells products directly. The business model of Netflix e-commerce store is it will sell high quality apparel and lifestyle products that are related to the famous shows of Netflix and the products are going to be carefully chosen and limited edition.
Merchandises on Netflix shop store
Netflix has conveyed that their e-commerce store will soon see an exclusive release of merchandise based on the two popular original series of Netflix that is the Witcher and Stranger things. Both the shows have a huge fan base and Netflix is also planning to introduce a new Netflix logo wear from BEAMS which is a Japanese fashion house.
The company has announced that during the third week of June it plans to release the merchandises based on the Anime series Yasuke and Eden which would be streetwear and action figures and they also added that the store will also release limited edition apparel and decorative items from the French thriller series Lupin with a collaboration of Musee du Louvre.
Netflix has also conveyed that they are introducing the collection of collectibles that are inspired by anime’s from three up coming designers i.e., Kristopher Kites who is a noted jewelry maker, Jordan Bentley who is a streetwear designer, and Nathalie Nguyen who is a digital artist.
Is Netflix Entering the E-commerce space?
The most important aspect to be noted is that Netflix already has licensing deals for a lot of products that are sold by other companies. The top companies such as Amazon, Walmart, H&M, Target, Sephora and other retail investors have been selling the products merchandised products of the shows related to Netflix.
So, the next question is what difference does it make with Netflix launching its own E-commerce website. The strategy of Netflix e-commerce store is it would sell only the carefully chosen limited edition merchandise on its e-commerce store. The aim of the company is to sell the limited edition items to the super fans of the shows.
This is considered to be a move from Netflix to enter into the e-commerce segment as well as a move to increase the revenue generation of the company. This can be marked as an official entry by the OTT platform into the e-commerce segment and we will be able to see much more collectibles and limited-edition merchandise being released to the online platform of the company.
Media Platforms that are already in E-commerce Space
Even though Netflix has launched its new e-commerce platform for selling its merchandise products, Disney has been into the field for a very long time. The consumer products of Disney have earned a revenue of around USD 16.5 billion in the year 2020.
Disney has their own consumer products where they sell products such as Baby Yoda dolls and also an outlet such as theme parks.
Netflix shop website
The e-commerce website that is launched by Netflix was developed and launched with Shopify. It is to be noted that the e-commerce store will first be available in the United States and the company will later focus on expanding it to other countries.
Netflix had also conveyed that they do not have any plans to open the outlets of brick and mortar.
The launch of the Netflix e-commerce website can be considered to be one of the important steps taken by Netflix to venture into the consumer goods segment. We may be able to find a lot of demand for the merchandise products listed on the site of Netflix by their super fans.
What is Netflix Shop?
Netflix Shop is an ecommerce store launched by Netflix for selling merchandises of the popular series.
Is Netflix Shop available in India?
No, the shopping site will first be available in the United States and the company will later focus on expanding it to other countries.
What are the current merchandises on Netflix Shop?
Netflix has introduced a new logo wear from BEAMS and is planning to launch limited edition merchandises for super fans.