PRESS RELEASE: Product Improvements Key to Capturing Digital Camera Purchases
(Weymouth, MA) April 18, 2011 . . . InfoTrends has released the results of its digital camera end-user survey. The survey, which included over 1,600 US consumers, confirmed that while the market is definitely maturing, over a quarter of current digital camera owners are considering purchasing an additional or replacement camera in the next twelve months, with many of these consumers seeking to upgrade their cameras. While only 11% of digital camera owners report owning a digital interchangeable lens camera, over one quarter of the digital camera owners with plans to purchase a digital camera expect to buy an interchangeable lens camera.
There are several reasons to expect a steady stream of repeat and additional camera purchases. With falling product prices and many new and improved introductions, consumers are realizing that they can upgrade their current camera for a significantly smaller investment than just a few years ago. Another factor is that over half of current digital camera owners in our survey reported shortcomings with their current device. Developing products that address areas where consumers have expressed dissatisfaction and getting the word out about those improvements will be essential to capturing purchases from repeat buyers moving forward. Respondents also indicated that they are feeling better about the state of the economy, and consumers that delayed purchases last year due to financial concerns are more likely to go ahead with purchases now.
Ed Lee, a Group Director at InfoTrends, states, “There are many factors coming together that are quite promising for the digital camera market. Consumers are starting to spend money more freely again, and they realize that they can get more bang for their buck with the latest digital cameras. Vendors that offer products with improvements that directly address consumer concerns will be most likely to persuade them to upgrade.”
InfoTrends’ 2010 Digital Camera End-User Survey considers the ways in which user demographics are changing, illuminates the segments that should be targeted in various marketing initiatives, and explores what consumers do with their digital photos. When appropriate, the report compares the results from this survey to the results from previous years’ studies to obtain a greater understanding of how this market has evolved.
This report is available for immediate purchase. For more information visit InfoTrends’ online store or contact Robyn Wuori at +1 781 616 2103 or e-mail [email protected]
InfoTrends, a Questex company, is the leading worldwide market research and strategic consulting firm for the digital imaging and document solutions industry. We provide research, analysis, forecasts, and advice to help clients understand market trends, identify opportunities, and develop strategies to grow their businesses. Additional information about InfoTrends is available on the Web at www.infotrends.com.
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(First posted on Thursday, April 21, 2011 at 13:50 EDT)