According to research by the management consulting firm McKinsey, online luxury sales will triple by 2025. Furthermore, 80% of these sales will be digitally influenced. Luxury purchases are no longer reserved for the over-forty crowd either. Indeed, Millennials are also ready to pay more for personalized luxury goods.
Meanwhile, personalization has made its way in most facets of the retail world, especially online. If we look at product personalization specifically, Deloitte research found that at least one in three consumers want the ability to personalize their products. Moreover, the majority of consumers would be willing to pay more for a personalized product Once again; this number is on the rise with Millennials coming into their prime purchasing years.
The question that most of you must have on your mind follows next: « How can we as print and photo product retailers benefit from such growth prospects promised by online customers avid for high-end goods? » Simple: by supplying to the demand. How exactly? This is what we will be looking into in this post.
With little doubt, the photobook will continue to be a consumer’s favorite, practically as an antidote to the digital era, as people continue to almost nostalgically crave the physicality of a photo products. People still have a huge desire for the book, for the printed object that they can hold. It’s exploding in all sorts of ways at the moment. The photobook market is reaching its maturity and vendors need to differentiate their offering in order to retain their share of the pie. Indeed, for photobooks, smart access, larger formats but more importantly exclusive materials and special finishes will determine segment growth, likely to be around 3 % per annum until 2021.
Mediaclip offers the unique Product Designer which exclusive features enable retailers, photo labs and printers to offer new high-end photobooks with several additional embellishment options. We are going to ding into the trendiest ones supported by the designer.
Texturized, attention-grabbing typography has been trending for the past few years and doesn’t show any signs of wearing out. While famous photographers and authors have been known for their typographic covers for years, you can expect to more early-adopters demanding the support of features such as engraving while the majority embraces the bold text trend in creative ways.
On the other end of the spectrum, a steadily increasing number of designers are eschewing the busy, and choosing to create sleek, purposefully minimalist covers instead, carefully guarded by a dust-jacked. These are covers that aren’t bursting at the seams with letters and pattern, but focus on one central element of foil stamping, and give it space to shine.
Moreover, for a prominent visual impact, a die-cut or emboss has become the choice of taste-makers; it’s a way of sculpturing and increasing a reader’s engagement with your work. Undeniably, embossing has a visual impact. It adds depth, especially when there’s neither printing nor ink on the paper. And embossing is tactile, it’s sculpture. It’s something that you can feel. The contrast of texture makes a wonderful but subtle effect. And the subtleness of details embodies luxury.
In addition, the ability to provide a realistic preview for such high-end product is a bid worth reaching since it reassures the customer in its purchase, thus increasing the conversion rate.
Offering new high-end photobooks with customizable dust-Jacket, support for popular enhanced finishes like embossing, engraving, foil stamping justify presenting clients with a price premium. These embellishment options answer the growing demand for high-end photo products. Mediaclip Product Designer opens the door with the possibility of such offerings, attested with its unique beautyshots for a photorealistic preview.