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Netflix (NFLX) Pushes Into E-Commerce With New Online Store
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Netflix (NFLX - Free Report) recently launched its first owned-and-operated online retail outlet, Netflix.shop to sell products directly to consumers, planting a flag in the territory of e-commerce.
For the launch of Netflix.shop, the company is introducing a collection of anime-inspired collectibles from three upcoming designers namely, Nathalie Nguyen, Kristopher Kites and Jordan Bentley.
Items debuting this month include streetwear and action figures based on anime series Yasuke and Eden, and apparel and decorative items inspired by French crime thriller Lupin, developed in collaboration with the Louvre Museum in Paris.
Moreover, the streaming giant plans to introduce products based on hit series The Witcher and Stranger Things and Netflix logo-wear from Japan’s fashion house BEAMS in the near term.
Markedly, Netflix developed and launched the e-commerce site with Shopify (SHOP - Free Report) . The online merchandise store is available in the United States and will be expanded to other countries in the coming months.
Netflix’s expansion into direct e-commerce is expected to be a game changer for the streaming giant in the long haul, much like competitors such as Disney and NBC Universal.
The expansion into limited-edition apparel and other consumer products for sale on an owned-and-operated site marks another step by Netflix to keep fans invested in its shows even after they turn away from their screens.
Markedly, Netflix added 3.98 million subscribers in the first quarter of 2021, which fell short of its forecast of 6 million new subscribers.
The shopping site offers a new source of revenues for Netflix after a quarter in which its explosive growth showed signs of slowing down in the increasingly crowded field of streamed entertainment, which includes rivals like Disney+, Amazon Prime videos, Paramount+, Peacock, HBO Max among others.
Moreover, Netflix.shop allows the company to further capitalize on viewer interest in merchandise to help make up for lack of advertising revenues since the streaming site, unlike many of its competitors including Hulu and HBO Max, doesn’t run ads.
Netflix, the home of popular original drama series such as Bridgerton, Money Heist and The Crown, does not have commercials, relying on the monthly fees paid by its 207.6 million subscribers around the world.
Other tech giants including Alphabet owned Google and Facebook are also diversifying into the promising global e-commerce market, which is expected to reach $16,215.6 billion by 2027, growing at a CAGR of 22.9% during the forecast period of 2020 to 2027, per Research and Markets report. Google recently announced plans to open a New York store, besides Facebook’s Instagram, which is ramping up its in-app shopping features.
+1,500% Growth: One of 2021’s Most Exciting Investment Opportunities
In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second.
Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.
Image: Bigstock
Netflix (NFLX) Pushes Into E-Commerce With New Online Store
Netflix (NFLX - Free Report) recently launched its first owned-and-operated online retail outlet, Netflix.shop to sell products directly to consumers, planting a flag in the territory of e-commerce.
For the launch of Netflix.shop, the company is introducing a collection of anime-inspired collectibles from three upcoming designers namely, Nathalie Nguyen, Kristopher Kites and Jordan Bentley.
Items debuting this month include streetwear and action figures based on anime series Yasuke and Eden, and apparel and decorative items inspired by French crime thriller Lupin, developed in collaboration with the Louvre Museum in Paris.
Moreover, the streaming giant plans to introduce products based on hit series The Witcher and Stranger Things and Netflix logo-wear from Japan’s fashion house BEAMS in the near term.
Markedly, Netflix developed and launched the e-commerce site with Shopify (SHOP - Free Report) . The online merchandise store is available in the United States and will be expanded to other countries in the coming months.
Netflix, Inc. Price and Consensus
Netflix, Inc. price-consensus-chart | Netflix, Inc. Quote
Foray Into E-Commerce - A Game Changing Move
Netflix’s expansion into direct e-commerce is expected to be a game changer for the streaming giant in the long haul, much like competitors such as Disney and NBC Universal.
The expansion into limited-edition apparel and other consumer products for sale on an owned-and-operated site marks another step by Netflix to keep fans invested in its shows even after they turn away from their screens.
Markedly, Netflix added 3.98 million subscribers in the first quarter of 2021, which fell short of its forecast of 6 million new subscribers.
The shopping site offers a new source of revenues for Netflix after a quarter in which its explosive growth showed signs of slowing down in the increasingly crowded field of streamed entertainment, which includes rivals like Disney+, Amazon Prime videos, Paramount+, Peacock, HBO Max among others.
Additionally, the online store expands this Zacks Rank #3 (Hold) company’s product line beyond the items it sells through partners such as Target (TGT - Free Report) , Walmart (WMT - Free Report) , Amazon, H&M, Sephora and other retailers. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Moreover, Netflix.shop allows the company to further capitalize on viewer interest in merchandise to help make up for lack of advertising revenues since the streaming site, unlike many of its competitors including Hulu and HBO Max, doesn’t run ads.
Netflix, the home of popular original drama series such as Bridgerton, Money Heist and The Crown, does not have commercials, relying on the monthly fees paid by its 207.6 million subscribers around the world.
Other tech giants including Alphabet owned Google and Facebook are also diversifying into the promising global e-commerce market, which is expected to reach $16,215.6 billion by 2027, growing at a CAGR of 22.9% during the forecast period of 2020 to 2027, per Research and Markets report. Google recently announced plans to open a New York store, besides Facebook’s Instagram, which is ramping up its in-app shopping features.
+1,500% Growth: One of 2021’s Most Exciting Investment Opportunities
In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second.
Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.
Click here to download this report FREE >>