I recently stumbled across a statistic that didn’t necessarily surprise me but should challenge each of us to think a bit differently. According to an article I read, there were 380 billion images captured in 2012. 380 billion! In 2000, only 86 billion photos were taken. In the span of 13 years that is nearly a 350% increase.
Photography, the art of preserving memories, or simply communicating what you ate for lunch, is more popular than ever. So it is hard to resolve the fact that the photo industry is declining when you see a statistic like this.
Of course there are a few bright spots within the industry: advanced compacts, waterproof, weather-resistant systems and ILCs still turn a profit. But make no mistake, the adoption of the smartphone is chipping away at the industry. Add to that the fact that the DSLR market segment is becoming saturated, and the outlook begins to look a bit cloudy for some.
As the executive vice president of Pentax Ricoh Imaging Americas, I am focused on what we can do, together with the imaging industry, to provide solutions for our consumers while continuing to support our distribution partners.
Ultimately, to benefit from this uptick in photography, future imaging products must deliver on both the technical requirements as well as on an emotional appeal to inspire smartphone users to also bring a dedicated camera along on their adventures.
Until recently, interchangeable-lens cameras consistently provided the technical prowess but often came up short on emotion. As a result, many consumers may believe that one DSLR in the household is sufficient. To reverse this misconception, manufacturers and retailers, working together, must offer solutions that encourage the purchase of multiple cameras for the home and change the trajectory of this now shrinking market.
So, what can be done to inspire and influence the customer?
As a manufacturer, our responsibility is to support buyers by providing consistency in our products. For example, offering a set of established and consistent lens mounts is a great way to alleviate consumer worries about issues like backward/forward compatibility and reassuring them of the ecosystem they’re buying into.
Pentax Ricoh Imaging has a long-term commitment to our Q, K and 645 lens mounts. Regardless of the sensor behind the lens, compact, APS-C, full frame or medium format, we are committed to providing a consistent set of lens mounts that will remain compatible with legacy lenses as new technology emerges.
In addition, manufacturers have an opportunity to provide products that truly differentiate themselves by engaging through personalization. Although color camera options for DSLRs have been dismissed over the years as unnecessary or gimmicky, colors truly do connect with photographers. For instance, at WPPI this past March, I met a female photographer who owned a white K-30. When I asked her why she chose white, she shared that she works mainly with young kids and infants and the white camera puts her subjects much more at ease. She is not approaching them with a big black box and thereby spends less time calming the child and more time taking pictures. In the end it is a win-win; the children are less intimidated and she gets to take more pictures for her clients.
With 18 color variations now available for our K-30, this may sound like an expensive proposition for our retailers, but the contrary is true. Pentax Ricoh Imaging has developed a backend supply chain, which makes color variations virtually risk free for retailers. “Color to Order” cameras are built on demand and therefore there is no need to carry multiple SKUs at retail. The customer visits a store, places an order and returns four to six weeks later when their custom-order camera is delivered. And because the camera itself was paid for during the initial visit, the retailer has the opportunity to sell high-margin lenses or accessories when the customer returns to the store, ultimately increasing the total basket sale and providing additional profit for the retailer.
Though the industry is in transition, we must not lose sight of the fact that photography is now more popular, accessible and affordable than ever. Pentax Ricoh Imaging is working with our retailers to provide a consistent ecosystem of camera solutions that deliver on both emotion and picture quality, encouraging consumers to move beyond their smartphones and embrace solutions that will enable them to capture quality images time after time.
James Malcolm is the executive vice president of Pentax Ricoh Imaging Americas, headquartered in Denver, Colorado. He is also a board member of CEA – Digital Imaging and the PhotoImaging Manufacturers and Distributors Association.
