2023 in Review: Part 2

In case you missed it, we recently kicked off a three-part blog series dedicated to looking back at 2023 data. Our hope is that this information will prove useful for you and your business in 2024!

In Part 2 of this series, we’re focusing on storefront performance and individual product sales.

1) First, let’s look at the percentage of storefront purchases made each month, each day of the week, and each hour of the day. This information may help determine the best times to send emails and run sales.

Takeaway - As expected, we see increased sales in October and November, just in time for the holidays. Consider running seasonal sales to promote year-round orders and during the holiday season, remind your clients of order deadlines to ensure their purchases arrive in time.

While at least 10% of sales took place each day of the week, we do see an uptick at the beginning of the week, Sunday through Tuesday. As for time of day, we see a steady increase in orders throughout the day, with noticeable peaks at lunchtime and in the post-work evening hours. Keep this information in mind when running short promotions or deploying emails.

2) Next, let’s explore the percentage of purchases that take place each month after a gallery is activated.

Takeaway - The majority of orders take place within the first three months of a gallery’s activation, especially in the first month. This is when the images hold the most emotional connection and excitement for clients. Take advantage of this peak purchase window by regularly enticing customers with marketing tactics and promotions. Make sure to do a final push around 90 days after a gallery’s activation before this purchase window closes.

For long-term sales, consider 1-year-anniversary marketing promotions, and even run sales on gallery extensions.

3) Have you ever wondered what other photographers are charging for their digital images? Well, for 2023, you don’t have to! In addition to displaying last year's average sale prices, the graph below also shows the percentage of sales across some of the most popular sizes.

Takeaway - Reference these average prices when determining your own. If your prices are currently set lower than the average sales price of last year, you could consider gradually increasing your prices.

4) Finally, we pulled together the top-three highest-selling products across several different product types:

Standard Prints, Top 3 Print Sizes:
4x6, 5x7, 8x10
Digital Downloads, Top 3 Image Sizes:
Full Res, 1280px, 1800px
Gallery Downloads, Top 3 Image Sizes:
Full Res, 1280px, 2800px
Fine Art Papers, Top 3 Paper Types:
Smooth Matte, Hahnemühle Ultra Smooth, Photo Matte
Canvas Gallery Wraps, Top 3 Canvas Sizes:
11x14, 16x20, 16x24
Greeting Cards, Top 3 Styles:
Christmas, Holiday, Baby Announcements
Framed Prints, Top 3 Frame Styles:
Black Frame, White Frame, Oak Frame
Metal Prints, Top 3 Print Sizes:
8x10, 16x24, 20x24

Takeaway - If you aren’t offering all of these products in your storefront already, 2024 may be the time to try!

So, how can these 2023 numbers impact your 2024 numbers for the better? We’d love to hear about any changes you make to your business strategy! Or, if there’s anything we missed that you’re curious to learn more about, let us know. We’d be happy to do more investigating on your behalf!

We’ll see you back here for part 3 of this blog series, focused on shipping and lab order fulfillment.