Dive Brief:
- In a move that leverages its shows' popularity, Netflix is teaming up with Walmart to sell exclusive merchandise at the big-box retailer this fall.
- Products from top Netflix shows like "Squid Game," "Stranger Things," "The Witcher," and "CoComelon" will be available at Walmart through the launch of a digital storefront called the Netflix Hub at Walmart, according to an announcement Monday.
- The Netflix Hub at Walmart is the streaming service's first digital storefront with a national retailer, the announcement said.
Dive Insight:
Walmart's partnership with streaming service Netflix makes it a major destination for fans who want to purchase their favorite shows' merchandise.
Some of the products include a "Stranger Things" cassette player, "Ada Twist" plushie, "Nailed It" baking kit and "Waffles + Mochi" cookbook. In addition to these products, Walmart will allow fans to vote for products they want from Netflix shows and will then "bring them to life" through an initiative called Netflix Fan Select.
The Netflix Hub at Walmart also furthers Netflix's place in retail. In June, Netflix launched Netflix.shop — an online shop where the company will release limited-edition apparel and lifestyle products related to its shows. Branching into the retail space may also give Netflix an alternative revenue stream and a method to market its content.
For Walmart, its partnership with Netflix may be a way for the retailer to tap into Netflix's viewership and acquire new customers, establishing itself as "[m]ore than just the go-to destination for your everyday needs," Jeff Evans, executive vice president of entertainment, toys and seasonal at Walmart U.S., wrote in the announcement.
Netflix is the latest among Walmart's string of high-profile partnerships. In May, Walmart and Gap inked a multiyear partnership on Gap Home, a home essentials brand sold exclusively on Walmart.com. Walmart also partnered with actress Drew Barrymore for a cookware collection in March and with American designer, decorator and author Todd Oldham for a crafting brand.
