While we went a completely different direction when we read this headline, Gap Inc. announced that it’s acquiring the New York- and Tel Aviv-based startup Context-Based 4 Casting (CB4), which uses artificial intelligence (AI) to identify patterns in retail data and identify ways to improve in-store sales.
It is totally missed opportunity if Gap doesn’t use Chris Rock in their next commercial. If you are wondering. CB4 is a classic Chris Rock movie.
In June of this year Netflix moved into commerce with a launch of their own online store. Then in July announced they are moving into physical retail. Yesterday they announced that they are moving deeper into commerce by teaming up with Walmart Inc. to create a digital storefront on the retailer’s website that will sell merchandise. Netflix clearly sees diversifying out of pure play streaming as important as the “stream wars” continues to grow more intense.
But (image courtesy of Scott Galloway) Netflix is still dominating!
It may be a sign that things are returning to normal as Retailers are resuming testing new store concepts leaning heavily into experiential retail, which, in our opinion, will be the differentiator of successful retailers in the future.
- Dick’s House of Sport and Public Lands
- Target’s Ulta shop-in-shops
- Bloomingdale’s small-format Bloomie’s concept
- Casper’s shop-in-shop at Bed Bath & Beyond
- Wilson’s first-ever brick-and-mortar stores
- Nordstrom’s Indochino shop-in-shops