UK photography market drops 22% in value
August 5, 2013
The GfK figures, which compared June 2013 to the same month a year earlier, are similar to results for the first quarter of the year when sales fell 21% in all three months, before more positive results were recorded in April and May.
The Market-I report, compiled by GfK Retail and Technology UK, states: ‘Fixed-lens [compact] sales continue to be hampered by the development of smartphone cameras, high ownership levels and the move to premium.’
It adds: ‘The changeable-lens sector has seen a move to entry-level models subduing value growth, but accessory areas focused on changeable-lens cameras should receive a boost from the volume demand generated.’
The value of the UK photographic market fell by 18.9% in the first half of 2013, compared to the same period a year earlier.