InfoTrends: Photo Merchandise Will Gross $800 Million in 2010
InfoTrends: Photo Merchandise Will Gross $800 Million in 2010
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January 18, 2007* – This past holiday season, some of us received a photo greeting card from a loved one, a photo calendar from a sibling, or if we were really lucky, a photo mug of our favorite pet. We could soon expect more. The photo merchandise industry is steadily growing and will gross over $800 million in 2010, according to a study released this week by market research firm InfoTrends.
Photo gifts include, among other items, photo books, calendars, enlargements, and greeting cards which is the most popular category. The market is growing at a rate of 24.5 percent each year, and North American photo merchandise will surpass the $800 million mark in just a few short years, according to InfoTrends.
Consumers tend to buy their photo gifts in-store, but Internet purchases are gaining momentum and will soon surpass in-store retail photo merchandise. Last year, 3.5 million U.S. households made a photo gift purchase using the Internet, said InfoTrends Associate Director Alan Bullock in a Jan. 16 company press release.
The digital imaging research firm recommends that in order for photo merchandise to gain even more success, mass retailers will also need to participate to increase consumer awareness.