Smart phones eating into the camera market

Observation:   As the inboard devices become more sophisticated and take photos of higher resolution, lots of people are leaning on their phone for “spur of the moment” shots.  However, consumers still want a point-and-shoot or D-SLR for those really important shots.  That’s according to a story in today’s Marketing Daily.  Click here to see it.

Implications:   Every industry category seems to be going through change, either in response to technology and innovation, or in the aftermath of the recent recession.   

Do customers sometimes choose a cheaper alternative when considering the products you… but then come back to you for a need that is really important?  (Are you seen as the quality choice, or the low-price option?)  Is technology or an emerging competitor eating into your sales?  Sometimes, a shift like this can happen so slowly that you don’t realize the magnitude of an emerging competitor. 

Just ask Kodak.

Mike Anderson, for the Elm Street Economics consumer trends blog. A service of The Center for Sales Strategy, Inc.