Newton, MA (PRWEB) July 12, 2011
After a decade of vanishing film photofinishing revenue and stiff price competition that has eroded profits from digital photo prints, vendors are seizing the opportunity to make respectable profits on personalized photo products, with photo books becoming the optimal product in this category. Photo books have become successful because of the strong benefits they offer to both consumers and vendors—a rare combination that has enabled the worldwide photo book market to grow unabated right through the latest economic recession. A new report from Lyra Research’s Consumer Imaging Intelligence (CII) advisory service (http://www.lyra.com/lh3m.nsf/AdvisoryServices/DPS), The 2011 Consumer Photo Book Market: Turning Family Treasures into Profits, discusses the growth of photo book market and includes primary market research conducted by Lyra in 2007, 2009, and 2010, as well as Lyra’s forecast for photo books from 2007 through 2014.
Specifically, the report discusses photo books that are produced for consumers through services that deliver finished books. It provides in-depth coverage of the following:
- the benefits that photo books provide to consumers and sellers;
- the driving forces behind the growth of the consumer photo book market, including the increased presence of photo book advertising, merchandising, word-of-mouth buzz, the increased incidence of first-time orders, and the increased number of repeat orders from satisfied customers;
- the four dominant demographic and technographic influences on photo book purchases (gender, presence of children in the household, scrapbooking experience, and digital SLR camera ownership);
- the size and the expected growth of the U.S. and worldwide consumer photo book markets broken down by region—North America; Latin America; Europe, the Middle East, and Asia (EMEA); and Asia Pacific;
- the most popular themes/subjects for photo books;
- the methods most consumers use to purchase photo books and which methods are gaining traction;
- the technology used to produce the majority of photo books and how other production methods are growing in popularity;
- the average price of a photo book order in the U.S. and worldwide; and
- the expected growth of the worldwide consumer photo book market through 2014.
Commenting on the potential of the consumer photo book market, Steve Hoffenberg, director of Lyra’s Consumer Imaging Intelligence, said, “Consumers have begun to regard photo books as new-and-improved replacements for traditional photo albums that can be kept as family heirlooms or given as gifts to loved ones. This is a market that will continue to be valued, and there is a significant amount of room to grow before the market becomes saturated. However, to capitalize on the full potential of the mass market for photo books, vendors will need to expand their marketing efforts to focus not only on women with young children but also other potential customers.”
Insight into the Expected Growth of the Photo Book Market
Lyra forecasts that, by 2014, gross profits from photo books are estimated to reach one-third of the gross profits from photo prints over the forecast period. This is quite remarkable considering that photo print profits will be derived from approximately 50 billion prints worldwide that year, while photo book profits will be derived from fewer than 78 million books (see attached figure).
Ordering the Report
The 2011 Consumer Photo Book Market: Turning Family Treasures into Profits is currently available and can be purchased for $1,695. For more information, contact Sandy Tobin, client relations manager, at 617-454-2612 or email@example.com.
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About Consumer Imaging Intelligence
Lyra Research’s Consumer Imaging Intelligence (CII) is an online advisory service for marketing and product managers in the digital camera, camera phone, photo printing, and online photo service industries. CII provides the advice and insight necessary to tap into the possibilities of today’s digital imaging market. CII consists of six components: expert consultation, interactive market forecasts, primary market research studies, industry analysis, industry news and updates, and an annual market overview briefing.
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