Over the past five years, the growth of the photography industry has been nothing less than stellar.
A report published earlier this year by Grand View Research, Inc. noted that the global market for digital cameras will reach $19.77 billion by 2020. Not only does this show that a growing number of people are becoming interested in photography, but it also proves that there is a strong demand for a variety of products.
Benefits of Selling via the Internet
Just the same as the market for digital cameras, the trend surrounding online retail sales is on the rise.
Forrester Research expects the growth of online retail sales to continue, reaching $414 billion by 2018. With an annual growth rate of 9.5 percent, there has never been a better time to open an online store.
The primary benefit of selling online is easy to see: this is where a large number of consumers are heading when they want to make a purchase. However, there are other benefits of selling photography equipment via the internet, including the following:
No geographical limitations
With a brick and mortar store, you can only sell to people in a targeted area. This is not the case with an online store, as you now have the ability to reach people from one side of the globe to the next.
Grand View Research, Inc. touched on this as well, noting that the Asia Pacific market is expected to be the “fastest growing regional segment” over the next six years.
As digital photography makes its way into emerging markets, you can expect the opportunity to reach global customers to increase. Remember, it takes a while for technology to catch up in under developed regions.
As noted above, the photography market is always changing. The hot product today may not be the hot product tomorrow. The camera that everybody has to have this holiday shopping season won’t be the one consumers are clamoring for in 2015.
With an online store, you have an extreme amount of flexibility. As the market changes, you have the ability to do so at the same time. This can be the difference between success and failure in the future.
Additionally, online stores don’t require nearly as much space to operate. Even if you decide to stock some merchandise, overhead costs will not be nearly as robust. This leads to cost savings in a variety of ways, including the amount of space required as well as labor.
Note: drop shipping is an idea to consider if you want to sell photography equipment via the internet but have no desire to ever touch the product. Instead, you can setup an account with a drop shipper. Your primary responsibility is to drive sales. Once an order is placed, your drop shipper steps in to handle the fulfillment process.
Variety of e-commerce platforms
Go back in time to the late 1990’s and selling online was nothing more than a hassle. In today’s world, powerful, SEO friendly ecommerce platforms ensure that this is no longer the case.
With the right platform, you can do all the following (plus much more) with ease:
Choose a design template that matches your brand.
Add products as necessary, including in-depth descriptions and images.
Market your store through various high end tools.
Better control your inventory (if you are stocking items).
Take advantage of mobile features, giving customers the chance to shop via their smartphone or tablet.+
Shopify, Bigcommerce, and Volusion are three of the many ecommerce platforms being used by millions of companies the world over. Each one has a variety of offerings, allowing you to get started no matter if you are new to selling online or converting your entire business to an internet based store.
When you combine the power of the photography market, growth of online shopping, and the ability to setup a professional and reliable store, the opportunity to sell photography equipment online may be too much for you to resist.