PUNE, India, October 5, 2017 /PRNewswire/ --
Photo Printing and Merchandise Market report analyst says the latest trend gaining momentum in the market is Innovation in photo printing market 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. This painting technique gives a 3D effect on a flat surface. 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 ReportsnReports.com.
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The analysts forecast global photo printing and merchandise market to grow at a CAGR of 7.43% during the period 2017-2021. Key players in the global photo printing and merchandise market: American Greetings, HP, Shutterfly, and Walmart. Other Prominent Vendors in the market are: CafePress, CVSPharmacy, Hallmark Cards, Rite Aid, Smilebox, Snapfish, Vistaprint, and Walgreen.
According to the market of photo printing and merchandise report, one of the major drivers for this market is Growing accessibility of photo printing. The demand for photo printing and merchandising is fast increasing as the popularity of customized products has grown. This has led to an increase in the number of vendors investing in the photo merchandising segment. Also, traditional printing services are extending their services to include photo merchandising to meet the growing demand. The additional skillsets and infrastructure required to extend their printing services to photo printing is minimal, because of which a number of small businesses are able to provide these services, thus making photo printing and merchandising an affordable proposition for a larger base of customers.
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Further, the report states that one of the major factors hindering the growth of photo printing and merchandise market is Low life span of products. One of the major challenges in the market is the short lifespan of the products. Photo merchandise is bought primarily because the product has a unique value in its customization. However, a product will only be unique for a very limited amount of time, after which it becomes just another accessory. While this can be an advantage if customers repeatedly buy redesigned models of the same product, most of the time, customers do not make such a repeat purchase.
This report, Global Photo Printing and Merchandise Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
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