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Rise Above Research: U.S. photo merchandise shows stability amid challenges Market research 

Rise Above Research: U.S. photo merchandise shows stability amid challenges

GaryPageau , ,
The photo merchandise market has proven to be very stable amid economic and market challenges, according to Rise Above Research’s 2024 US Photo Merchandise Forecast. The company said 2024 will see an overall increase of just under 2% in unit sales, driven by nominal increases in nearly every product area. Sales of photo cards, photo books, photo calendars, and photo... Read More
IDC: Worldwide smartphone market up 7.8% in 1Q, Samsung regains number 1 spot Market research 

IDC: Worldwide smartphone market up 7.8% in 1Q, Samsung regains number 1 spot

GaryPageau ,
According to preliminary data from the International Data Corp. (IDC) Worldwide Quarterly Mobile Phone Tracker , global smartphone shipments increased 7.8% year-over-year to 289.4 million units in the first quarter of 2024 (1Q24). While the industry is not completely out of the woods, as macroeconomic challenges remain in many markets, this marks the third consecutive quarter of shipment growth, a strong... Read More
CNBC/NRF Retail Monitor: Retail sales grew in March amid wage gains, easing inflation Market research 

CNBC/NRF Retail Monitor: Retail sales grew in March amid wage gains, easing inflation

GaryPageau ,
Retail sales grew at a steady pace in March, according to the CNBC/NRF Retail Monitor, powered by Affinity Solutions, released today by the National Retail Federation (NRF). “As inflation for goods levels off, March’s data demonstrates steady spending by value-focused consumers who continue to benefit from a strong labor market and real wage gains,” said Matthew Shay, president and CEO,... Read More
Futuresource projecting increased market value for Western Europe photo products Market research News 

Futuresource projecting increased market value for Western Europe photo products

GaryPageau
Futuresource Consulting is estimating the photo-output market value for the top six major Western Europe markets (Benelux, France, Germany, Italy, Spain, United Kingdom) will have 16% projected value growth from 2022 through 2027. The company said 2021 was a challenging year for photo output, due to the impact of the COVID-19 pandemic on print-worthy images, while 2022 showed 11% value... Read More
CIPA projects camera decline in 2024 but the year is looking good so far Market research 

CIPA projects camera decline in 2024 but the year is looking good so far

GaryPageau
The Japanese Camera & Imaging Products Association (CIPA) announced its outlook forecast on the ‘shipment by product-type concerning cameras and related goods for 2024’ and expects a decrease compared to 2023. Readers should note, however, CIPA data covers products made by member companies including OM Digital Solutions Corp.,  Carl Zeiss Co. Ltd. Canon Inc., SIGMA Corp., Kenko Tokina Co. Ltd.,... Read More
NRF: Economy remains ‘sturdy’ despite forecast for slower growth Market research News 

NRF: Economy remains ‘sturdy’ despite forecast for slower growth

GaryPageau
Despite expectations for slower growth of both gross domestic product and retail sales, the economy should continue to do well for the remainder of this year, according to Jack Kleinhenz, chief economist, of the National Retail Federation (NRF). “No one can accurately forecast what surprises the next year might hold, but the foundation of the economy is relatively sturdy and... Read More
2024 Easter spending expected to top $22 billion Market research 

2024 Easter spending expected to top $22 billion

GaryPageau ,
Consumer spending is expected to reach a total of $22.4 billion this Easter, according to the annual survey released by the National Retail Federation and Prosper Insights & Analytics. The total figure is the second highest in the survey’s history, after last year’s record-setting $24 billion when the holiday fell nine days later in the year. “Each year, Americans look... Read More
CIPA data for 2023 shows higher-value mirrorless cameras making double-digit gains Market research 

CIPA data for 2023 shows higher-value mirrorless cameras making double-digit gains

GaryPageau
The Camera and Imaging Products Association (CIPA) has published its data report for the full year 2023. Shipments of cameras (fixed and interchangeable lenses) dropped by 3.6% in terms of numbers but increased by 4.9% in value. Mirrorless camera shipments increased by 18.6% in terms of cameras shipped and 10.9% in terms of value. DSLR camera shipments skidded by 36%... Read More
Rise Above Research estimates more 2.3 trillion images to be taken worldwide by 2028 Market research News 

Rise Above Research estimates more 2.3 trillion images to be taken worldwide by 2028

GaryPageau
Driven primarily by the number of smartphones in use and their continued popularity for capturing photos, Rise Above Research estimates the annual number of photos captured globally will grow to more than 2.3 trillion by 2028. “Photography continues to play a significant role in most everyone’s lives, from taking photos during special events to simple everyday moments,” said Ed Lee,... Read More
NRF: Census retail sales data shows consumers ‘still engaged’ Market research News 

NRF: Census retail sales data shows consumers ‘still engaged’

GaryPageau
Data released by the U.S. Census Bureau shows retail sales cooled in January but that households continued to spend, National Retail Federation Chief Economist Jack Kleinhenz said. “Retail sales softened in January compared with the holiday season, but consumers were still engaged,” Kleinhenz said. “Extreme weather likely disrupted product demand and consumption patterns. January prices for goods came down, which affects sales... Read More
CNBC/NRF Retail Monitor shows January sales were strong Market research 

CNBC/NRF Retail Monitor shows January sales were strong

GaryPageau ,
Retail sales showed a strong beginning for the year in January, nearly matching December’s busy holiday spending and rising significantly year over year, according to the CNBC/NRF Retail Monitor, powered by Affinity Solutions, released today by the National Retail Federation. Click here to access January’s retail data. “January sales continued the strong performance of retail sales in December, which is... Read More
NRF: Labor market and interest rates will play major roles in 2024 Market research 

NRF: Labor market and interest rates will play major roles in 2024

GaryPageau
After a better-than-expected performance in 2023, what happens with the economy in 2024 could depend largely on the labor market and what the Federal Reserve does with interest rates, according to National Retail Federation Chief Economist Jack Kleinhenz. “Federal Reserve officials have tough policy choices ahead as they decide on what to do and when,” Kleinhenz said. “There is still... Read More
NRF: Valentine’s Day spending to reach new record  Market research 

NRF: Valentine’s Day spending to reach new record 

GaryPageau ,
Valentine’s Day is returning to its romantic traditions, with total spending on significant others for the holiday expected to reach a record $14.2 billion, according to the annual survey released by the National Retail Federation and Prosper Insights & Analytics. “Retailers are ready to help customers this Valentine’s Day with meaningful and memorable gifts,” said Matthew Shay, President and CEO,... Read More
IDC: Worldwide market for used smartphones is forecast to surpass 430 million units with a market value of $109.7 billion in 2027 Market research 

IDC: Worldwide market for used smartphones is forecast to surpass 430 million units with a market value of $109.7 billion in 2027

GaryPageau
International Data Corp. (IDC) estimates worldwide shipments of used smartphones, including officially refurbished and used smartphones, will reach 309.4 million units in 2023. The unit growth represents a 9.5% increase over the 282.6 million units shipped in 2022. In addition, IDC projects that used smartphone shipments will reach 431.1 million units in 2027, with a compound annual growth rate (CAGR)... Read More
NRF: Census data shows 2023 holiday sales grew 3.8% to record $964.4 billion Market research 

NRF: Census data shows 2023 holiday sales grew 3.8% to record $964.4 billion

GaryPageau
U.S. Census Bureau data released showing core retail sales during the 2023 holiday season grew 3.8% over 2022 to a record $964.4 billion, easily meeting the National Retail Federation’s forecast despite continued inflation and high interest rates, NRF said. Sales for the full year grew 3.6% over 2022 to a record $5.13 trillion. “Consumer spending was remarkably resilient throughout 2023... Read More