Port Washington, NY—Current digital camera owners who expect to buy a new camera within the next year are willing to spend more than they were two years ago, according to The NPD Group’s Next Camera Study Part II. More than 25% of current digital camera owners stated they were at least somewhat likely to purchase a camera in the next year, with 46% percent saying they would spend $300+, which is up nearly 10 percentage points from 2010 and more than twice the current point-and-shoot average selling price of $149.
“Even though the percent of current digital camera owners who said they were going to purchase a new device hasn’t changed much since 2010, the fact that those who want to buy are willing to spend more than they were two years ago will certainly help boost a market that has been declining,” said Liz Cutting, executive director and senior imaging analyst at NPD. “That willingness to invest more in their next digital camera should greatly help the mirrorless segment where consumers are looking for high quality in a small package.”
Among those intending to spend at least $200 on their next camera, awareness of mirrorless interchangeable-lens cameras shot up to 40% percent, double that of 2010. According to the survey, consumers who said they were considering purchasing a mirrorless camera were most attracted to the high image quality of the camera, followed by interchangeable-lens versatility and the compact size.
“Mirrorless cameras are much higher on consumers’ radar screens and are being held both to a high quality standard while at the same time are being sized up for value,” said Cutting. “Marketers of mirrorless cameras must prove that big things come in small sizes, and are worth the investment.”
A U.S. representative sample of 3,200 adults from NPD’s online panel took part in NPD’s survey from June 20 through July 5, 2012. npd.com