Disney plans to create a more flexible, interconnected e-commerce experience to give consumers easy access to unique, high-quality products across all our franchises. The company aims to integrate the Disney platform more with the Disney Parks apps and social media platforms.
Disney's pivot to online follows a 4 per centdecline in retail revenue in the fiscal year that ended in October 2020, which covered much of the pandemic so far. For reporting purposes, the brand giant lumps its retail revenue together with licensing, which together made about $4.2 billion for the fiscal year, or about a quarter of Disney's total revenue, according to the company's most recent 10-K.
Disney has also been expanding its shop-in-shops worldwide. That includes a shop-in-shop partnership with Target, launched in 2019 ahead of the holidays that helped beef up Target's assortment of toys and gave Disney an in with a growing force in the category in Target.