PRESS RELEASE: Western European Photo Merchandise Market to Rise to 212 Million Units by 2015
(Weymouth, MA) July 11, 2011 . . . InfoTrends’ 2011 Western European Photo Merchandise Forecast indicates that total unit sales for photo merchandise products in Western Europe are expected to rise from about 161 million in 2011 to nearly a quarter of a billion in 2015.
Currently, Germany and the United Kingdom are the largest individual countries in terms of unit shares. Germany is the clear leader in terms of revenues, whilst the U.K. accounts for a much smaller share of revenues. The mix of photo merchandise sold in each country has a big impact on revenue generated. Photo books are typically the highest priced photo merchandise item, and Germany is the largest market for photo books of all countries covered in this forecast, which include France, Germany, Italy, Spain, and the U.K.
Relative to the other Western Europeans, German consumers are much more educated about photo merchandise products, particularly photo books. This can be attributed to a strong level of awareness and adoption due to aggressive marketing. Mona Belle, a Consultant at InfoTrends, states, “While awareness of photo merchandise for total Western Europe is high at around 75%, adoption rates are low. This is not necessarily bad, however, as a high level of awareness and a relatively low adoption rate mean that there is great opportunity for future growth. Retailers and vendors that identify and address barriers to adoption and capitalize on market drivers have great potential to grow their revenues.”
InfoTrends’ Western European Photo Merchandise Forecast includes actual numbers for 2010 as well as forecasted figures for 2011 through 2015. It offers total values for Western Europe as a whole as well as individual country sections for France, Germany, Italy, Spain, and the United Kingdom. This forecast includes data for unit shipments, revenues, and average selling prices. For the purposes of this document, the term photo merchandise includes photo books, photo cards, and photo calendars.
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(First posted on Friday, July 15, 2011 at 15:19 EDT)