Influencer economy revives camera market

SHANGHAI — At a bustling camera store in Shanghai, young shoppers crowded around the shelves, eager to get their hands on the latest models.

"My favorite influencer uses this camera to film," said 26-year-old Li Yun while trying out a mirrorless model. "But it's hard to get one. You have to enter a lottery and hope you're lucky enough."

Across China, demand for cameras is reviving. Once sidelined by smartphones, cameras are back in style, fueled by the rise of social media, livestreaming and short videos.

From January to August, China accounted for 23.3 percent of global camera shipments, ranking as the second-largest market after the Americas, according to the Camera and Imaging Products Association (CIPA).

The surge in demand is driven by the country's rapidly developing influencer economy, where likes and shares on social media platforms translate into sales.

New economic models and changing consumer habits are transforming cameras from mere technical tools into fashionable items.

Huang Jing, an influencer with more than 500,000 followers on the lifestyle-sharing platform Xiaohongshu, emphasized the impact of quality cameras on her content. "Using a camera to make vlogs is key for showcasing details of my makeup looks. The clearer the image, the more vibrant my content becomes," said Huang.

Xiaohongshu now boasts over 80 million community sharers, with an impressive 90 percent of its content being user-generated, according to the platform's 2024 trend report.

Moreover, as the tourism industry continues to recover, new "Instagrammable" attractions are emerging across the country, attracting large crowds to capture their memorable experiences.

"In this context, the demand for photographic equipment is steadily increasing," said Wu Feiran of the Shenzhen Soft Science Development Foundation.

The growing demand is also driving the action camera market, with analysts expecting the global market for such cameras to reach 20.1 billion yuan ($2.8 billion) by 2028, with a compound annual growth rate of 6.1 percent.

Chinese brands like DJI and Insta360 are stepping up to meet this demand, having significant success both domestically and internationally.

Global camera giants like Sony, Canon and Nikon, which now have over 80 percent of the global camera market share, are intensifying their efforts to tap China's booming market.

"We see tremendous opportunities in emerging sectors like livestreaming e-commerce and the influencer-driven economy, where China leads the way," said Takehito Soeda, vice-president of Sony (China).

The influencer economy is essential for optimizing supply chains and meeting evolving consumer needs, said Lan Jianping, deputy director of Zhejiang Development and Planning Institute.

"This shift is crucial for improving efficiency in today's fast-paced market," Lan said.

To further enhance the global competitiveness of new economic models, China's Ministry of Commerce issued the "Three-Year Action Plan for Digital Commerce (2024-26)" this year.

This initiative aims to empower socioeconomic development while contributing to the building of a new development pattern. The new industries, new business formats and new business models, dubbed the "three new" economy, demonstrate vibrant growth potential.

In this evolving landscape, the camera industry is well-positioned for growth. "We believe that every moment recorded tells a story, and in this era, everyone can be a storyteller," said Soeda.

XINHUA