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Netflix to open branded retail stores for some reason
(www.engadget.com)
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this post was submitted on 13 Oct 2023
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I don’t get why this is so confusing. This is basically a rotating theme restaurant/theme shop. Disneyland, Universal Studios, the new Nintendo park, etc. aren’t really about the rides or food either. Will tourists buy Stranger Things tchotchkes and Bridgerton merch? Sure, we’re a hyper consumeristic society that loves pop culture doodads and experiences. I somehow get the feeling this will fail, Netflix’s brand has lost its luster recently, but I don’t think this idea is totally out there.
I think the problem is the reporting: it says "retail stores" right in the headline. Which sounds insane.
"Netflix to open themed restaurants and gift-shops" sounds... well, still insane, but less-so.
I'm not confused why they're doing it, I'm confused why they think b&m stores are the way to go. I'm sure they can subsidize any potential losses from other money making areas but why not just sell the merch online? Storefront overhead ain't cheap.
While I completely agree, there’s a bit of a draw to certain experiences around shopping. Some instances:
Basically look up a list of Flagship stores, even Microsoft and Samsung have ones. They’re more of an experience and bragging rights than just walking in a random Walmart to get merch. Sure, you can just order it online, but it’s not the same.
Because it’s not about immediate sales, it’s about marketing. They’ve been between major culture defining hits for a while, but imagine if such a store existed when Squid Games was at its peak. Create a few instagrammable moments at two locations, a place for hyped fans to pilgrimage, and that’s much cheaper than TV advertising. Not saying it’ll be successful, but I think there’s some logic to this.
I think that’s a fair assessment but that particular kind of retail is risky. Food, maybe.