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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
Cloudprinter shares data on print engines Market research News 

Cloudprinter shares data on print engines

GaryPageau , ,
Cloudprinter posted data about the types of print flowing through its network. The data provides insight into the popularity of different print engine platforms and how seasonality comes into play. “December marks a distinct shift in Cloudprinter’s operational trends, reflecting the dichotomy between the professional market slowdown and the consumer holiday season peak. Our network sees a remarkable 70% of... Read More
NRF: Economist says 2023’s consumer spending growth is ‘not necessarily sustainable’ in 2024 Market research 

NRF: Economist says 2023’s consumer spending growth is ‘not necessarily sustainable’ in 2024

GaryPageau
Consumers spent more than expected amid high inflation and high-interest rates during 2023, but spending growth is likely to slow in 2024, National Retail Federation Chief Economist Jack Kleinhenz said today. “The 2023 U.S. economy was marked in large measure by the impressive resiliency of the consumer,” Kleinhenz said. “A year ago, many commentators were skeptical and calling for a... Read More
Circana: U.S. camera sales a bright spot over Black Friday Market research 

Circana: U.S. camera sales a bright spot over Black Friday

GaryPageau , ,
U.S. sales of consumer technology products were generally lackluster over Black Friday Week and Cyber Week when compared to last year, in line with broader discretionary general merchandise spending trends, according to industry research firm Circana (formerly NPD). While sales declined during both of these two big holiday promotion weeks, Black Friday Week performed better with a 3% year-over-year decline... Read More
NRF: $743 Billion in Merchandise Returned in 2023 Market research 

NRF: $743 Billion in Merchandise Returned in 2023

GaryPageau ,
Retailers have been focused on efforts to mitigate returns, as total returns for the industry amounted to $743 billion in merchandise in 2023, according to a report released by the National Retail Federation and Appriss Retail. As a percentage of sales, the total return rate for 2023 was 14.5%. According to the report, for every $1 billion in sales, the... Read More
IDC forecasts spending on GenAIsolutions will double in 2024, grow to $151.1 billion in 2027 Market research 

IDC forecasts spending on GenAIsolutions will double in 2024, grow to $151.1 billion in 2027

GaryPageau ,
An updated forecast from International Data Corporation (IDC) shows enterprises will invest more than $19.4 billion worldwide on GenAI solutions in 2023. This spending, which includes GenAI software as well as related infrastructure hardware and IT/business services, is expected to more than double in 2024 and reach $151.1 billion in 2027 with a compound annual growth rate (CAGR) of 85.9%... Read More
NRF: Census Retail Sales Numbers ‘On Track’ With NRF Holiday Spending Forecast   Market research News 

NRF: Census Retail Sales Numbers ‘On Track’ With NRF Holiday Spending Forecast  

GaryPageau ,
November results reported by the U.S. Census Bureau today show holiday season retail sales appear likely to meet the National Retail Federation’s forecast, NRF Chief Economist Jack Kleinhenz said. “Today’s report highlights consumers’ strength and continuing capacity to spend,” Kleinhenz said. “Jobs and wage gains together with falling energy prices have supported holiday shopping as we predicted. Lower inflation for... Read More