Boston, MA—According to a new study from Rise Above Research, 63% of respondents in the 18- to 24-year-old age group bought photo products in the last year. Moreover, almost half of them were first-time buyers of photo cards. As a result, the research firm believes the U.S. photo merchandise market is healthy and resilient, even during the Covid-19 pandemic.
In these challenging times, young adults are turning to photo products as meaningful gifts and keepsakes. The study also found that more than 40% of all the buyers in each of the product categories covered had bought them for the first time in the last year.
Notably, many buyers plan to purchase again this year as well as spend more on their next purchase. The popularity of photo merchandise products among first-time buyers and a strong contingent of repeat buyers is good news for the overall market, asserts the company’s analysts.
First-Time Buyers by Product Type
“The photo merchandise market has traditionally catered to parents with kids in the household,” said David Haueter, director and founder at Rise Above Research. “That group still buys photo merchandise products; however, we’re also seeing that teenagers and first-time buyers are a significant opportunity for the market,” he added.
U.S. Photo Merchandise Market in 2020
The study also looked at the impact of Covid-19 on buying habits. It found that 40% of photo merchandises buyers said they are buying more online now than at a retail store.
The 2020 US Photo Merchandise Study provides the results of an extensive online survey of U.S. consumers that focuses on buying habits and behaviors for key product areas. The merchandise categories include photo cards, photo books, photo calendars, photo wall décor as well as drinkware.
Respondents provided detailed information on what they bought and how much they spent. In addition, they answered deeper questions of why they purchased the products they did and what their future intentions are.
Rise Above Research is an independent market intelligence and strategic consulting firm. Its mission is to support industry vendors, service providers as well as retailers with actionable intelligence to assist them in making effective decisions in fast-paced digital photography and imaging markets.
Industry veterans Ed Lee and David Haueter established Rise Above Research in 2020. They have extensive experience providing market research and strategic consulting for the digital imaging industry. The company’s analysts have a combined 40+ years of covering a wide variety of imaging markets.