Accessories Sales Bolster Detachable-Lens Camera Market Growth
Accessories Sales Bolster Detachable-Lens Camera Market Growth
Port Washington, NY (PRWEB) September 06, 2011
According to The NPD Group, a leading market research company, U.S. consumers continue to express their passion for photography by investing in cameras and accessories, neither of which shows sign of a slowdown in the growing detachable-lens camera market. While point-and-shoot camera sales experienced a 16 percent decline in revenue (January through July 2011) versus the prior year, sales of detachable lens cameras increased 14 percent. Overall revenues from camera accessories, excluding memory cards, have increased by 6 percent over last year.
“To thrive in today’s market, retailers and manufacturers should regularly refresh accessory displays that map to new camera capabilities and the evolving consumer,” said Liz Cutting, NPD Senior Imaging Analyst. “For the more advanced amateur, that may mean suggesting a tripod upgrade to afford better video capture; while for the first time buyer, detachable lens cameras bundled with accessories are welcome solutions.”
According to NPD’s “Digital Camera Market Basket” report, within the first six months of ownership, the average consumer spent $ 244 on additional camera accessories for a detachable-lens camera, which represents more than 20 percent incremental revenue beyond the camera’s price, although first-time detachable-lens camera buyers reported spending less than repeat buyers did on accessories overall. In addition, more than half of repeat detachable-lens camera buyers reported recycling or reusing equipment from prior purchases, such as tripods, camera cases, and memory cards.
Forty-one percent of detachable-lens camera buyers purchased additional accessories not only at the same retailer, but also at the same time they purchased their new cameras. More than half of consumers who purchased detachable-lens cameras for themselves also bought accessories after their initial camera purchases. “Whether your customer is a newbie, or is already experienced in digital photography, it’s critical to inspire them by showcasing the latest and greatest camera outfits,” Cutting said.
About The NPD Group, Inc.
The NPD Group is the leading provider of reliable and comprehensive consumer and retail information for a wide range of industries. Today, more than 1,800 manufacturers, retailers, and service companies rely on NPD to help them drive critical business decisions at the global, national, and local market levels. NPD helps our clients to identify new business opportunities and guide product development, marketing, sales, merchandising, and other functions. Information is available for the following industry sectors: automotive, beauty, entertainment, fashion, food, home and office, sports, technology, toys, video games, and wireless. For more information, contact us, visit http://www.npd.com/, or follow us Twitter at https://twitter.com/npdgroup.
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