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(Weymouth, MA) November 11, 2008. . . Photo merchandise, a category that encompasses items such as photo cards, photo books, photo calendars, and specialty photo prints, presents a valuable new revenue stream, particularly for digital imaging vendors that may be facing declining photo print volumes. In fact, a detailed study recently completed by InfoTrends projects that the U.S. photo merchandise market will achieve a compound annual growth rate (CAGR) of 22% from 2007 through 2013, with revenues surpassing $2.5 billion, while the Western Europe market will experience a 23% CAGR through 2013, reaching over $2 billion.
Lack of interest and awareness appears to be a significant issue in the photo merchandise market, as only about a fifth of U.S. respondents and Western European respondents reported purchasing photo merchandise in the past 12 months. David Haueter, Associate Director of InfoTrends’ Photo Printing Service, commented, “We believe some of the lack of interest barriers could be addressed with effective marketing efforts that focus on encouraging consumers to try out merchandise for the first time. We’ve found that an extremely high percentage of respondents that had purchased merchandise before plan to purchase again. Vendors that are able to retain their existing customers while capturing today’s non-buyers will likely establish a steady stream of repeat business.” Photo books are expected to generate the most growth in terms of print volume in both regions, and with their higher prices per unit, books have already displaced photo cards as the prime revenue generator in the merchandise market. Nevertheless, photo cards will remain a popular item among consumers and a significant source of revenue. The results of this multi-client study provide insight into an extremely active consumer segment within the digital imaging space, as photo merchandise buyers tend to take and print many more photos than the average digital camera owner. Photo Merchandise Products for the U.S. and European Markets identifies market segments, customer requirements, usage patterns, purchasing plans, critical success factors, and other key information to support vendors’ product development, marketing, and sales activities. The report offers a forecast for the U.S. and Western Europe photo merchandise markets (specifically cards, calendars, photo books, and specialty photo prints), as well as the results of an extensive consumer survey of 1,000+ photo merchandise buyers in both regions. Photo Merchandise Products for the U.S. and European Markets is available immediately for purchase. The results of the U.S. and Western Europe studies can be purchased individually or as a package. For more information please contact Matt O’Keefe at +1 ext. 115 or via e-mail at . InfoTrends, a Questex company, is the leading worldwide market research and strategic consulting firm for the digital imaging and document solutions industry. We provide research, analysis, forecasts, and advice to help clients understand market trends, identify opportunities, and develop strategies to grow their businesses. Additional information about InfoTrends is available on the Web at www.infotrends.com Copyright © 2007 InfoTrends. All rights reserved. Reproduction or reuse of InfoTrends materials is strictly prohibited without prior written consent. If you are interested in referencing InfoTrends content, please submit your request to . |
