Why Walmart Is Suddenly Teaming Up With Netflix
Walmart will be selling more popular Netflix products, like figures from the cast of Stranger Things, in order to draw in more shoppers for the holiday season.
This article is more than 2 years old
Retailers are gearing up for an uncertain holiday shopping season. So, many are turning to unusual partnerships to tempt customers. Walmart is one of those and has announced news of a strengthened partnership with Netflix.
The streaming giant has struggled with subscriber numbers in recent months. To try and compensate for the hit, the company even rolled out a brand new membership option. Now, for the first time, you can choose a budget-friendly subscription.
Netflix hopes that by rolling out this cheaper option, it will be able to retain current subscribers. It also hopes that the leaner monthly bill may help attract new viewers. But the company is not waiting to assess its success with its membership updates.
Instead, it is pushing forward with another attempt to entice viewers. And this one may prove to be more effective. Netflix and Walmart recently announced a deepening partnership, just in time to capitalize on the holiday rush.
The retail giant will expand its existing Netflix hub. Soon, customers will find this specialized hub in 2,400 Walmart locations nationwide. These hubs will offer many great gift ideas that are even appropriate for those without a Netflix subscription.
Shoppers will find products for fans of the many Netflix hit shows. And, if you decide to keep them for yourself instead of sticking them under the tree, don’t worry. We won’t tell.
Additionally, customers can find streaming cards at the various Netflix hubs. Each streaming card offers a “subscription” of sorts to a specific show. So you can get your “Stranger Things” fix without subscribing to the streaming service.
Many will doubtless see these streaming cards as great news. And Walmart believes these fan-centric offerings will make great gifts. Company leadership also hopes the offerings will draw more customers into its stores.
The retailer is expending tremendous efforts into boosting sales over the holiday season. According to The Street, Walmart is “making strategic decisions to hopefully generate sales for the holidays.” One of the changes it already made was to extend the return deadline.
Now, customers can return or exchange holiday gifts until January 31, 2023. This news got announced on the heels of an enhanced return and exchange policy after a significant inventory mishap last quarter. Inventory mismanagement resulted in the company sitting on excess products.
Despite efforts to sell the goods, it could not move much of the overstock. This error led to a very generous return and exchange program. Walmart offered many impacted items for free to customers who tried to return or exchange them.
So, now, Walmart is working hard to move past that error. And it believes that one avenue toward improved sales numbers is via external partnerships. Its relationship with Netflix is only one of many.
Another notable pairing is with the popular gaming platform Roblox. It is a meta-verse world filled with different games. And over 52 million viewers sign in to play every day.
Walmart announced Walmart Land and Walmart’s Universe of Play in conjunction with Roblox. The Universe of Play is free to access on many different platforms. You can even join in the fun with your Oculus Rift if you want to immerse yourself in the meta-verse experience.
