LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global photo printing and merchandise market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The global photo printing and merchandise market is heavily influenced by the growth of the tourism and events sectors, which include hotels, airlines, holidays, parties, and weddings. These businesses provide the ideal platform for global and local vendors to showcase their products through innovative photo merchandising.
Ujjwal Doshi, a lead analyst from Technavio, specializing in research on publishing and advertising sector, says, “Photo printing is considered one of the best ways to preserve memories. Despite the advent of digital photos, photo printing continues to hold sway. Digital photos cannot match the touch and feel of a printed photo. This is the major factor why printing for photos only is the highest segment in the global photo printing and merchandise market.”
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The top three emerging trends driving the global photo printing and merchandise market according to Technavio research analysts are:
- Innovation in photo printing and merchandise
- Rise in customer awareness about products and services
- Availability of photo printing merchandise in bundle packaging
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Innovation in photo printing and merchandise
The latest trend in photo merchandise is the development of 3D photo products. The advent of 3D images has led to an increasing number of vendors implementing these in their products, allowing them to offer customers options for unique gifting products. Lenticular painting is another growing trend in the market, especially in gift accessories.
“The quality of pictures is also increasing with HD pictures being used excessively in photo merchandising. The increased revenue through the enhanced quality of the photos is expected to drive revenue growth in the market during the forecast period,” according to Ujjwal.
Rise in customer awareness about products and services
Global consumers are becoming more aware of product quality, particularly with the availability of global vendors in regional markets through e-commerce. Customers today check the products they purchase by comparing on multiple websites, visiting blogs and review sites, enquiring in their social circles or peer groups, and evaluating the services based on price, quality, and efficiency.
Consumers are becoming more aware of quality, look, and style. The future of the photo printing and merchandise market from the vendor's point of view will depend on the amount allocated to R&D and on how they intend to satisfy their quality of service (QoS) and quality of experience (QoE).
Availability of photo printing merchandise in bundle packaging
A growing number of photo merchandising vendors are offering bundled packages at discounted rates. This is particularly common during off seasons when most of the vendors try to sell off their inventory, offering them at very low prices. The bundling is done in a way that different types of photo merchandise are sold together. These attract significant consumer interest especially in the online environment, where finding these deals has become extremely easy.
Bundling is also done by attaching the photo merchandise with gift items from the same brand. It is optimal for vendors to clear the inventory before the festive season so that there is high scope for customization and innovation.
The key vendors are as follows:
- American Greetings
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