Wonder

Research Outline

Prepared for Greg R. | Delivered October 23, 2019

Picture Frames Industry In the US

Goals

Gain information on the picture frames, custom frames, and wall art industry in the US, in order to guide an advertising/marketing strategy for the 2019 holiday season

Early Findings

The total revenue for the picture framing store industry in the US was $2 billion in 2018. 
Annual growth in picture framing was negative, with a decline of 1.2%, which was attributed to some increased competition from hobby stores and big-box retailers. 
Consumers have increasingly begun to choose online picture framing options over brick-and-mortar stores. 
Approximately half of custom picture framing revenue was driven by consumers earning over $100,000 per year, linking the rise in households earning over $100,000 with potential growth in the custom framing industry. 
The broader wall decor market is projected to see significant growth, with both residential and commercial demand growing, alongside an increased consumer inclination to create aesthetically pleasing households and office space. 
Commercial applications with the highest demand for wall decor or wall art include salons, spas, and restaurants.  
  There has been significant growth specifically in the online space for wall decor.
Global growth in wall decor was attributed to rising disposable income, and picture framing due to an increase in digital photography.   
 Two thirds of people who take digital photos had at least one printed and framed within the past year. 
The average consumer has an average of 6.3 sentimental or photo items waiting to be framed.
It was also noted that a key opportunity in the custom framing space exist through embracing the sentimentality of customers, and attracting purchases via communicating honor for their cherished items.