Sparta, NJ—The photo merchandise market is expected to show growth over the next few years, despite challenges from inflation and economic uncertainty. This is according to Rise Above Research’s 2023 US Photo Merchandise Forecast.
2023 US Photo Merchandise Forecast
In fact, 2023 will see an overall increase of just under 3% in unit sales, according to the report. Moreover, this overall growth is attributed to increases in every product area.
RAR expects sales of photo cards, photo books, photo calendars as well as photo wall/tabletop décor to generate more than $2.7 billion in 2023. This marks an increase of 3.5% over 2022. Furthermore, the research firm believes we will see unit sales increases of around 1.5% through the forecast period.
US Photo Merchandise Total Unit Forecast: 2023–2027
(Cards, Calenders, Wall/Tabletop Décor)
“The resilience of the photo merchandise market was evident over the last few years, as the market recovered from the pandemic and is now continuing to grow despite economic concerns and inflation,” said David Haueter, director and founder at Rise Above Research.
“Products like wall décor and photo books make meaningful gifts and are a great value. And there are many consumers who order photo cards and calendars on a regular basis,” he added.
The 2023 US Photo Merchandise Forecast provides a five-year projection for the products mentioned above. In addition, it includes units, revenue, average selling prices and breakouts of online versus retail order channels. Commentary on key drivers and barriers impacting the market is also provided.
Rise Above Research, LLC
Rise Above Research, LLC, is an independent market intelligence and strategic consulting firm. It supports industry vendors, service providers as well as retailers with actionable intelligence. RAR’s data assists them in making effective decisions in fast-paced digital photography and imaging markets.
Established in 2020 by industry veterans Ed Lee and David Haueter, Rise Above Research has extensive experience providing market research and strategic consulting for the digital imaging industry. Moreover, its industry analysts have a combined 40+ years of covering a wide variety of imaging markets.
