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

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 wall/tabletop décor are expected to generate nearly $3 billion in 2024, which is an increase of 2.8% over 2023. Unit sales are predicted to have a compound annual growth rate of around 1.3% through the forecast period, with revenues expected to grow at around 1.9%.

“The photo merchandise market continues to be stable and even showing some growth in most product areas, despite concerns about the economy that are impacting sales,” said David Haueter, director and founder at Rise Above Research. “The market is buoyed not only by attractive products that are great value propositions as gifts compared to more expensive products, but by a strong retention rate of repeat buyers who often plan to spend more,” he added.

The 2024 US Photo Merchandise Forecast provides a five-year forecast for the abovementioned products, includes units, revenue, average selling prices, and breakouts of online versus retail order channels. Commentary on key drivers and barriers impacting the market is also provided.