Nearly Half of Digital Camera Owners Looking to Buy a New Camera Plan to Spend $300+

Digital camera owners who plan to buy a new camera within the next year are willing to spend more than they were two years ago, according to leading market research company The NPD Group’s "Next Camera Study Part II."  Over a quarter of current digital camera owners stated they were at least somewhat likely to purchase a camera in the next year.  Among them, 46% said they would spend $300+, up nearly 10 percentage points from 2010 and more than twice the current average point-​and-​shoot average selling price of $149.

Even though the percent of current digital camera owners who said they were going to purchase a new device hasn’t changed much since 2010, the fact that those who want to buy are willing to spend more than they were two years ago will certainly help boost a market that has been declining,” said Liz Cutting, executive director and senior imaging analyst at NPD. “That willingness to invest more in their next digital camera should greatly help the mirrorless segment where consumers are looking for high quality in a small package.”

Among those intending to spend at least $200 on their next camera, awareness of mirrorless interchangeable lens cameras shot up to 40 percent, double that of 2010.  According to the survey, consumers who said they were considering purchasing a mirrorless camera were most attracted to the high image quality of the camera, followed by interchangeable lens capacity and compact size.  Some of the biggest barriers for consumers were willingness to spend at least $500, and perceived potential lack of DSLR quality.

Mirrorless cameras are much higher on consumers’ radar screens  and are  being held both to a high quality standard while at the same time are being sized up for value,” said Cutting.  “Marketers of mirrorless cameras must prove that big things come in small sizes, and are worth the investment.”

[Source:  "Next Camera Study Part II."  The NPD Group.  27 Aug. 2012.  Web.  7 Sept. 2012.]