InfoTrends recently released its U.S. Consumer Photo Merchandise Forecast for 2009–2014. While many markets in the digital imaging space are approaching maturation, InfoTrends projects that the photo merchandise market will attain substantial growth over the forecast period, reaching $2.2 billion in revenues by 2014.
As traditional photo print volumes and revenues decline, generating revenue from photo merchandise is the only way most vendors in the consumer photo market will survive, the report explains.
While the photo merchandise market is now experiencing strong growth, this segment is not without challenges. There is still a lack of interest in photo merchandise products by a large percentage of the population. Attracting more first-time buyers into the photo merchandise market is essential to success according to the report. InfoTrends' research has shown that photo merchandise buyers are very likely to buy again, so it is crucial for the market to create awareness and find creative ways to get non-buyers to try it out for the first time.
Consumers are taking more photos than ever before and still want to do creative things with them, rather than just view them on a PC screen or make traditional prints. Photo merchandise opens up that creative avenue, giving consumers a variety of unique options for output.