Can’t get enough of your favorite Netflix series? Netflix is counting on it. Last week, the streaming subscription service announced the launch of a new online store, Netflix.shop, where fans can buy merch inspired by their favorite characters and shows. At launch, the Netflix store, powered by Shopify, features merch from Hypland, BEAMS, Nathalie Nguyen and Kristopher Kites including t-shirts and hoodies, jewelry, caps, collectibles and more.
Stories that transcend screens
“We love it when great stories transcend screens and become part of people’s lives. We’re always looking at how we can extend the world of our stories for fans, from apparel and toys to immersive events and games. And it’s why today we’re launching Netflix.shop as an exciting new destination combining curated products and rich storytelling in a uniquely Netflix shopping experience,” said Josh Simon, vice president of consumer products, for Netflix in a June 10, 2021 blog post.
Simon said that the Netflix online shop will feature exclusive limited editions of curated high-quality apparel and lifestyle products that are tied to their shows and brands. This month, the store features streetwear and action figures from two Netflix anime series Yasuke and Eden, along with limited-edition apparel and décor inspired by Lupin in collaboration with Musée du Louvre.
The Netflix shop is working with designers including Nathalie Nguyen, Kristopher Kites and Jordan Bentley to develop exclusives for the online shop. Netflix offers a preview of Jordan Bentley’s work here.
In the coming months, Netflix plans to add exclusive products from shows like The Witcher, Money Heist and Stranger Things, along with Netflix logo wear. At launch, Netflix.shop is only available in the United States, but the streaming video giant plans to expand internationally.
“We’re thrilled to give fans a new way to connect with their favorite stories, and to introduce them to the next wave of artists and designers who embrace the power of storytelling in all its forms,” Simon added.
In addition to its new online store, Netflix has licensing deals with retailers like Walmart, Sephora, Amazon and Target who sell a range of products touting Netflix shows. Products including everything from clothes and toys to beauty kits and housewares, says The New York Times. Netflix.shop is more of a boutique, says Simon, and its other merchandise partnerships will yield more revenue than the store, but the possibilities are unlimited.
Media outlets are quick to point out that Netflix’s growth has slowed, and it needs to offer branded merchandise to keep up with streaming competitors like Disney+ and HBO Max. Yes, growth has slowed and competition is steep, but Netflix still has 208 million paid subscribers. With low churn and a slate of exceptional, exclusive content, Netflix does not need retail revenue to grow. However, if there is a market for merchandise from some of its most popular series, Netflix has an opportunity to extend its brand through diversification. And diversification is always a smart play for subscription companies.