According to the latest market research study released by Technavio, the global photo merchandising market is expected to grow at a CAGR of almost 10% during the forecast period 2016-2020.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio research analysts categorize the global photo merchandising market based on type:
Global photo merchandising market share by type 2015
|
Wall décor |
30.31% |
|
Photo cards |
28.26% |
|
Calendars |
22.91% |
|
Photo gifts |
18.51% |
Source: Technavio
The top four revenue contributing type segments are discussed below:
Wall décor
In 2015, wall décor accounted for around 30% of the global photo merchandising market. Various products such as posters, canvases, framed photo prints and photo collages are often used for home decoration. With the growing demand for artistic photography, the sales of wall décor are also increasing. Wall décor items are not restricted to a particular theme, they are universal and can be used for all occasions. Wall décor is mostly used by the well-off section of the population, who are more concerned about the aesthetic appeal of their house and rooms, in particular. The increasing demand for wall décor products, especially amongst the affluent section of the population has boosted the growth of the segment.
“The increasing demand for wall décor products has also led to an increase in the number of retail stores that are dealing with these products, in a way augmenting the availability of these products. These days the products can be availed at comparatively lower prices owing to the promotional activities by resellers such as Groupon, that provide raw materials at discounted price,” says Ujjwal Doshi, a senior analyst at Technavio for research on internet and e-commerce.
Photo cards
In 2015, photo cards accounted for around 28% of the global photo merchandising market. Photo cards are the tailored or modified greeting cards with photograph or photographs. They are available in different forms such as photo books, photo greeting cards, folded photo cards, photo note cards, design cards, customized photos, and photo postcards. Photo cards are mostly used to share abstract emotions by individuals on occasions such as graduating, getting a job, buying a new car, having a child, and greeting during festive periods and weddings. They are the best means to express feelings and are often considered special. It was observed that in 2015 the key revenue generators for the photo card segment were North America and Western Europe, and regions like Asia and South America are expected to be the highest revenue generators during the forecast period.
Calendars
Calendars accounted for around 23% of the global photo merchandising market in 2015. The increase in demand for customized calendars has fostered growth in the market for photo merchandising calendar. These calendars include poster, desk calendars and customized wall that has some personal touch. This segment is also affected by the increase in the number of smartphones as it has made clicking pictures much easy. The introduction of CMOS sensors has further improved the camera quality of smartphones by up to 13 MP that gives in better pictures. The users can share and take high quality pictures through their phones and use calendars to organize their pictures.
Photo gifts
In 2015, photo gifts accounted for around 19% of the global photo merchandising market. Photo gifts include items such as phone cases, apparel, cups, and other single image gifting products with printed photograph or photographs. Owing to the increase in the manufacture of products such as bottles, mobile cases, and headsets especially in the sports industry, it is expected that photo gifts will be the fastest-growing segment in the global photo merchandising market during the forecast period. It is also expected that the number of products with a sports team logo or symbol will increase during the forecast period. For example, the sponsorship of the biggest teams, Manchester United and Chelsea in the English Premier League, has increased since 2015 from $35 million paid by AON to $75 million paid by General Motor’s Chevrolet. Similarly, Chelsea’s sponsor Yokohama Tire Corporation is paying $60 million, a huge increase from $27 million, which Samsung used to pay till 2015.
Such increase in sponsorship revenue clearly shows that revenue from photo gifts will be increasing in the coming years. The segment will further witness growth due to the increasing penetration of photo merchandising in the online photo service segment. It is expected that during forecast period more than 66% of the net-to-mail revenue will be generated from photo gifts.
The top leading vendors operating in the global photo merchandising market are:
- American Greetings
- HP
- Shutterfly
- Walmart
Other prominent vendors in this market include CafePress, CVS Pharmacy, Hallmark Cards, Rite Aid, Smilebox, Target Corporation, Vistaprint, and Walgreens.
A more detailed analysis is available in the Technavio report titled, ‘Global Photo Merchandising Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Non-photo Personalized Gifts Market 2016-2020
- Global Photo Kiosk Market – Market Analysis 2015-2019
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