Great post! Netflix did indeed change the media landscape.
As you mentioned, Netflix has amassed huge amounts of data on its customers. It is interesting to see how they are using this data for multiple use cases such as for content development as you mentioned, as well as for content selection (e.g. green light, etc.), next-best product recommendations, customer retention, etc. I would be interested to see how they plan to push the barriers on that front.
In addition, it would be interesting to see how they plan to incorporate other digital technologies that could be impacting media such as virtual reality and augmented reality. They have already started experimenting with these (e.g. AR app for Stranger things, VR with Black Mirror) – looking forward to see how they innovate further on that front before they get disrupted.
Great post! Very informative.
I really admire how the company manages its partnerships and acquisitions.
A clear example of this relates to the Venmo acquisition that you have mentioned. Paypal made a strategic decision to keep the brand separate given how popular the brand was and how simple and easy the interface was to use. Paypal knew that by keeping it separate it would keep the “magic” of Venmo and would not impact the engagement of users, which worked. They used the Paypal expertise and scale to help grow the platform behind the curtains. Great acquisition play!
Another partnership you mentioned is related to Cybersecurity. It is interesting to see that Paypal has been leveraging AI to try to improve its risk management practices!
Great article! I completely agree with the levers you have mentioned and your assessment of each.
Potentially, a lever you had mentioned that they can expand on more is experience. Macy can potentially leverage key digital trends to allow it to improve the customer journey, increase their engagements and reduce costs. These can include digitizing the in-store shopping experience and leveraging data analytics.
For examples on digitizing the in-store shopping experience, Macy can launch shoppable digital windows (similar to Selfridge for example) or increase engagement with smart fitting rooms (similar to Ralph Lauren for example).
Macy can also double down on its data analytics efforts to improve customer acquisition, customer service and customer retention as well as improve its product offerings (e.g. predict taste of customers) and its operations (e.g. inventory management, workforce management), among other things.