Netflix

Netflix Ventures Into Online Shopping Industry, Launches New Site To Offer Branded Merchandise

Tech

Netflix has been a popular name among those who prefer to watch personalized content with just a click. But now you can even shop at Netflix. Yes, you read it right. The streaming platform has launched an online store for branded merchandise. One can visit the new site, Netflix.shop, to purchase a wide range of items like Lupin throw pillows to a Yasuke clock. So the boutique site is mainly offering products based on its hits. The site is a new source of revenue generation for Netflix which has around 200 million subscribers on its streaming platform. The development comes at a time when the company has been facing some tough competition from other players. Disney+ is one of the formidable rivals that is giving some tough competition. Also, experts believe that Netflix has reached saturation in terms of subscribers and needs to find other destinations to register growth.

The streaming platform has been taking a slew of measures to increase revenue. It seems the launch of the merchandise website is a well-timed decision. With the launch of the site, the company is hopeful of bring in cash after its quarterly results showed signs of slowing down. Moreover, Netflix has been lagging behind its competitors like HBO Max and Hulu in terms of commercials. So far the streaming giant has been relying on the monthly subscription charges paid by subscribers. This is why the company has come up with Netflix.shop. It must be noted that the company got serious about the retail business since last year. Josh Simon, who runs Netflix’s consumer products division, has been putting all the efforts to make it happen.

Simon joined Netflix almost a year ago. Before joining the company, he worked in a similar role with Nike. The consumer products team of 20 people has grown to 60 people now under his supervision. Also, Netflix has signed deals with companies like Amazon, Walmart, Sephora, and Target to sell items like clothes, toys, and others related to its films and web series. The company has tied up with Shopify for the launch of the online site. Describing the online store as a ‘boutique,’ Simon said that in the first few weeks, the site will only sell products related to just a few Netflix shows. “Lupin is going to be the main focus at the site this month. The company has collaborated with the Louvre museum for the design and production of all the Lupin-related merchandise. Apart from this, there will hoodies, T-shirts, baseball caps, etc for sale on the site. Products tied to “Eden” and “Yasuke,” will also be available on the site. Later, the site will feature products related to other popular Netflix shows like Money Heist and Stranger Things.

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