The Western European consumer photobook market is on track to achieve unit sales of almost 27 million units in 2014, according to the latest photobook research from Futuresource Consulting, up from an expected 25 million in 2013.
“The Western European photobook market continues to experience steady growth,” says Jeremy Wills, Senior Market Analyst at Futuresource Consulting, “and in the short term will continue to be driven by viral marketing and a greater consumer awareness of services, largely as a result of a significant marketing spend from the industry. However, by 2017, Futuresource forecasts show that growth will begin to decelerate due to fewer new users entering the market.
“Looking back across 2013, we expect the overall average photobook retail prices to have declined, in line with previous forecasts, due to competition and promotional activity. The average price in 2012 fell to just under €30.70, and in 2013 we expected prices to again fall by around 2% across Western Europe to an average of just over €30.20. This decline is set to continue in the coming years, but at a more limited pace than previously expected.”
Online ordering channels dominate the consumer photobook market. Online Mail-to-Home was set to account for 71% of the orders of photobooks in 2013, with Online Pick-Up-In-Store accounting for 22%. The In-Store ordering of photobooks, however, is expected to increase as photobooks are increasingly produced in-store, with Germany leading this trend.
In 2013, the photobook market witnessed some key movements within the industry. Snapfish consolidated its position in Western Europe, with its operations in the Benulux region and Spain passing to Pixum, and the German, vertically-integrated commercial printer, Flyeralarm entered the German photobook market in Q4 2013.
“We are expecting larger photobook SKUs, silver halide photobooks and fewer promotions to help to slow the decline in photobook prices, resulting in a market value peaking at nearly $830 million in 2016”, says Wills.
