Photo books have seen explosive growth in the past 5 years, increasing market penetration hand-in-hand with digital and smartphone photography. And that growth shows no signs of slowing in the near future. InfoTrends projects that the photo merchandise market will reach $2.2 billion in revenues by 2015, with photo books contributing the greatest to overall revenue and with the largest growth potential in the marketplace.
According to David Haueter, an Associate Director at InfoTrends, in the 2013 U.S. Photo Printing Survey, survey respondents who had purchased photo books were asked about traditional photo albums. Over 33% of respondents said that photo books had already started replacing photo albums in their homes and another 30% said that they plan to start printing photo books instead of putting prints in traditional albums.
Excitingly, InfoTrends survey data also shows that those who have purchased photo books are likely to be repeat customers. The 2013 Photo Merchandise Survey shows that nearly 80% of photo book buyers said they would “probably” or “definitely” buy photo books again in the next 12 months, with over 43% saying they definitely would.
David points out that for photo product vendors to be success licensing photo book software for commercial printerד, they must:
- offer competitive photo merchandise products
- implement marketing efforts to clearly show the benefits of these products
- constantly look ahead to determine what products their customers will want or what types of new design or product features will appeal to them
Vendors must also be considering how to improve the workflow process that is involved with the creation and ordering of photo merchandise items to make it simpler for their customers.
For those looking to break into this exciting and lucrative market by licensing photo book software for commercial printers, or for professionals looking to start your photo books business, the easiest and most cost-effective way to offer the in-demand products, innovate design, and implement a seamless workflow is to adopt PicsToPrint. PicsToPrint allows print shops and photo businesses of all sizes to take advantage of the explosive growth in this market, and positions them to succeed for years into the future.