Retailers Focus on Revamping Marketing Strategies to Boost Sales during COVID-19
The sale of non-essential consumer goods such as camera bags and gear has dipped significantly during the COVID-19 pandemic. The first quarter of 2024 is predicted to look bright in terms of high-end travel and camera gear retail. Changing people’s perspective toward coronavirus and adherence to safety measures are helping to replenish growth of the camera bag market. The growing eCommerce business is another key driver keeping economies running during the ongoing pandemic. San Francisco-based design company Peak Design is revamping its marketing strategy with discounts and offers to boost product uptake. This is expected to drive the camera bag market during the forecast period.
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Camera Bag Versus Camera Backpack: Which is Better?
The camera bag market is projected to surpass the revenue of US$ 3.3 Bn by the end of 2030. However, pros and cons of camera bags overlap with camera backpacks. Camera bags help to keep the camera gear incredibly organized and easily accessible. However, it has been found that big and clunky equipment are difficult to fit in camera bags. This has led to the popularity of camera backpacks, and is translating into incremental opportunities for manufacturers and retailers. Nowadays, photographers are owning both bags and backpacks as per project requirements.
Integrating Additional Gear in Camera Bags Helps Bolster Product Uptake
Innovative camera bags such as Holdfast Gear’s Roamographer camera bags and sightseer backpacks are gaining popularity among videographers. Manufacturers in the camera bag market are introducing cloth-based separate compartments, which prevent the damage to camera gear, owing to rough handling of bags. They are increasing their design efforts to integrate additional gear on the outside of the bag such as features to carry a tripod in order to increase sales. Manufacturers are experimenting with materials such as leather that omit the need for frequent bag cleaning.
Anti-theft, GPS Tracking Pave Way for Smart Camera Backpacks
The trend of smart backpacks is storming the camera bag market. Lumzag— a supplier of smart and innovative backpacks is introducing remote anti-theft alarms, wireless charger, inside light, and other lucrative features to boost product sales. The competition has become intense in the camera bag market since manufacturers are increasing their R&D and design capabilities to integrate real-time GPS (Global Positioning System) tracking in bags to let individuals know the exact location of their smart backpacks. The open alert technology prevents the opening of bags except for the bag owner.
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Camera Bag Market: Overview
- According to Transparency Market Research’s latest research report on the global camera bag market for the historical period 2018–2019 and the forecast period 2024–2030, camera bags are becoming popular due to increasing production of cameras, filters, and their accessories, along with the rising number of photographers. These factors are expected to boost the global camera bag market during the forecast period.
- Increasing purchasing power is influencing end users to opt for consumer electronic products such as cameras and their overall accessories. This is likely to drive the camera bag market. In addition, camera bags help photographers in the safe handling of cameras, and protects the camera from poor weather, accidents, and theft.
- In terms of revenue, the global camera bag market is estimated to exceed the value of US$ 3.3 Bn by 2030, expanding at a CAGR of ~3% during the forecast period
Increasing Number of Camera Users: A Key Driver
- Continuous increase in the number of camera users across the globe has created immense opportunities for manufacturers and distributors of camera bags. Moreover, factors, such as rising demand for comfortable camera bags from users, along with rising trend of using camera safety products have significantly driven the demand for camera bags globally. Different international brands are associating with professional photographers by offering them several accessories, which is likely to promote the sale of camera bags.
- Users perceive cameras as an essential gadget, as it helps in gathering memories through photography. Several eCommerce channels are offering users advanced products with high discount, along with attractive offers, which may encourage them to opt for camera bags. Major brands are likely to focus on innovation of new camera bag design and research & development to strengthen their foothold in the global camera bag market.
- Considering all these factors, the impact of this driver is moderate currently, and the impact is expected to become high due to the likelihood of increasing innovation in camera bags during the forecast period from 2024-2030
Camera Bag Market: Market Trends
- Rapid expansion of the camera industry coupled with high demand for camera accessories is likely to drive the global camera bag market during the forecast period
- Rising popularity of several eCommerce channels, along with the growing popularity of fashionable graphic printed camera bags leads to the growth of the camera bag market across the globe
- In addition, rising interest in using cameras among users for photography and videography has led to the growth of the camera bag market. Increasing usage of lightweight camera bags is a recent trend, thus driving the market.
Camera Bag Market: Competition Landscape
- Detailed profiles of providers of camera bags have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies
- Key players operating in the global camera bag market are
- Artantik LTD
- Benro USA
- Crumpler Pty Ltd.
- Gura Gear, LLC
- Lap Shun Manufacturing Co Ltd.
- M Billingham & Co Limited
- The Tiffen Company, LLC
- The Vitec Group plc
- Case Logic Group
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