In these current uncertain times, we are sure about one thing: this is the perfect moment to start a business online – especially a photo products business. Across the globe, social behaviors have changed in recent years, and the photo products market is doing very well. The pandemic situation has accelerated this change.
A stable income in difficult times
The whole e-commerce sector is expanding, it is a fact.
And the photo product market is growing too. What’s more, the time has shown that the photo products market is resistant to a pandemic. When it comes to photo books alone, during the first half of 2020, some resellers reported a 30% increase in new customers. This period was as fruitful as the average pre-Christmas season.
The photo product market is growing
There are two main reasons behind this growth:
1. Photo products can be easily sold online, and people have had more time at home to buy via different devices.
2. The second reason might be less obvious. This unprecedented situation makes everyone anxious. People are stressed and looking for an escape from overwhelming news. In many cases, they cannot express their feelings outside, around people (offline, not online), so they are turning to social media, games, books, tv shows, and… Photo products.
A keepsake from previous years’ holidays in the form of a photo book or a collage gift made for a loved one – this is a way of running away from all that chaos and maybe even expressing feelings that are hidden somewhere deep inside.
The pandemic will end – we hope it will be very soon – but many predict that people’s habits are changed forever. Among other things, it means more purchases online, which also means more photo product purchases. Photo product business owners, who have adapted to a new situation fast, are seeing dramatically growing sales.
Niche market strategy
Personalized face masks? Board games with customers’ photos? Or maybe premium wooden photo products? Printbox customers surprise us more and more with other product ideas. By finding a niche, you have many advantages. Most importantly – you are more likely to stand out among the competition (if any exists).
How should you choose a niche? The best ones are based on growing trends. However, the challenge is to predict them. Follow industry publications, subscribe to newsletters, and read blogs of companies that are already in this business. Inspiration is waiting for you.
When you find a niche product, you have to clarify your ideal customer. Everything connected to your brand has to be suited to them. Begin with a product and communication and finish with your content. Thanks to that, you will not only get orders fast, but people will be loyal to your brand.
Find a gap in the photo product market, and implement your product idea – this is one strategy.
But there’s something else…
Smart solution and customers that are left behind
Automate what can be automated, and focus on complex things. The world is pursuing the idea of substituting people with Artificial Intelligence in dull activities – smart factories, smart cars, smart homes, and even smart cities.
And now we have smart photo books. Technology has reduced the user’s activity in the creation process in the photo editor. Because of this, a huge opportunity has appeared for you. Where is your opportunity? Well, 80% of people abandon their project during the photo book creation process – because it’s frequently too long. These people are lost revenue. Maybe even loyal clients that will buy every year in the shop.
But there is something else. We can only calculate users who entered the shop. We can’t count potential clients who didn’t even open an editor. They didn’t want to make a photo book for themselves because it takes hours to select their best photos. How many potential customers are there like these across the globe? Tens of thousands, hundreds of thousands, millions? There’s no need to make an overcomplicated calculation –the numbers are big. The whole battle is about them. Businesses that have a Smart creator solution in-store are the only ones who can take part in this game. And with proper tools and technology, they might become winners.
Printbox Smart Creation
It’s not easy to develop a solution that takes the hard work of creating a book and narrating a story out of the customer’s hands – vital reasons why people are buying photo books. And it’s harder to add such a solution to a complex product, such as in-house functionality. We’re very proud to say that Printbox has developed such a solution. We called it Smart Creation.
How does Printbox Smart Creation work?
The customer uploads their photos. The algorithm selects the best ones to deliver a complete photo book. Then, based on given parameters, it creates a photo book and adds themes and elements to emphasize your client’s story. In the end, your client can make any modifications they want.
We could describe Smart Creation in words, but it’s better to see it live and in action. That’s why we’ve prepared live events for you where we will present Smart Creation in practice.
Join us on November 26 at the Smart Beginning on the photo products market event, and, if you already have a store, opt for Smart Way to lead your photo products business on November 19 and 24.
We believe it will be your first step in the journey on a new business path. We would be delighted to accompany you on this journey.
Krzysztof Szczepańczyk
Student of the University of Economics in Cracow. Photo products business is something new for him, but he's already making a name for himself at Printbox with his curiosity and desire to learn. Loves sports, travel, playing guitar, and scrambled eggs for breakfast.
