US customers willing to spend more for Nikon

Product advice/market research website 'MyProductAdvisor' is claiming that US customers are willing to pay more for Nikon than for other camera brands. Strong consumer engagement with camera brands will come as no surprise to anyone who's spent time on camera forums, but it's interesting to see figures suggesting this translates to a willingness to spend more. The company's figures suggest Canon can command the second-largest price premium with customers showing some willingness to pay more for Olympus, Panasonic and Fujifilm. This could explain the logic behind Nikon's comparatively high pricing of its 1 System.

Press release:

Digital Camera Consumers are Willing to Pay More for Nikon

PALO ALTO, Calif.--(BUSINESS WIRE)--Market Insight Corporation today reported that U.S. consumers are placing greater importance on “brand” for digital camera purchase decisions. Further, the maximum price that consumers are willing to pay for a digital camera is increasingly influenced by brand.

Based on preferences collected from more than 26,000 digital camera shoppers visiting MyProductAdvisor.com from May through October 2011, those who prefer the Nikon brand are willing to pay the most, with Canon ranking second. Olympus, Panasonic, and Fujifilm are among those brands attracting shoppers with more moderate willingness to pay. The results may verify expectations that Nikon’s overall brand/price power is positively impacted by the presence of its “high end” line of cameras.

The maximum price that consumers are willing to pay across a broad line of digital cameras reached a “recent years low” during the 2^nd half of 2010, and has been trending up during 2011. A noteworthy trend is the shift towards cameras priced over $600. Between May and October, the percentage of shoppers in this price group increased by 12%. But not all brands enjoy consumers’ enhanced willingness to pay. For example, consumers who prefer Samsung are drawn to stylish design, internet based social media, point and shoot, and video recording capability. But those preferences have not yet translated to a significant increase in shoppers’ willingness to pay. This may confirm expectations that smartphone cameras compete for these attributes.

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Comments

Total comments: 99 1 2

By BackInTheGame (Nov 18, 2011)

It always seemed this way to me. Whether or not Nikon actually takes advantage of that in the form of gouging I can't say. Considering the level of performance from the D3 series and the D700 I doubt they are over pricing the top of the line. The V1 price, I think, is heavily influenced by the EVF, as I believe is the case with the NEX 7. I'm sure the V1 focus system also plays a role, and the R&D for this system had to be substantial. Still, it is expensive. I know because I just parted with my cash to get it. The focus system got me, but the more I read in newer reviews and comments I begin to think the thing might actually be worth the price. Hopefully the price will eventually drop for later buyers.

0 upvotes

By DjarumBlack (Nov 18, 2011)

Because folks are brainwashed....LOL!. The Nikon isn't a bad system, mind you, but most folks are clueless about Olympus and Panasonic when compared to Nikon.

0 upvotes

By dopravopat (Nov 18, 2011)

No wonder, when Canon does not give MFA to the EOS 60D. The 7D is too overpriced for amateurs who want functions, not the speed of image processing. Canon can thank Magic Lantern, if the 60D would not be running it, I would never buy it.

0 upvotes

By Earthlight (Nov 18, 2011)

SD1 must be on the top though...

1 upvote

By commiebiker (Nov 18, 2011)

true that!

0 upvotes

By Veducci (Nov 19, 2011)

Nikon has for many years been the brand name most folks in the USA recognize as a maker of top quality cameras . Another is Leica.
Canon may be all as good as Nikon and even though it might outsell Nikon it still lacks the name brand recognition that Nikon has aquired.

0 upvotes

By specular (Nov 19, 2011)

That sounds like an over-generalization. I'm an American and I just sold my D700 and all but two lenses. I've switched to the Sony A850 and several used Minolta lenses. I prefer the in-camera stabilization, the larger sharp prints I can make and, of course, the original pricetag.

0 upvotes

By keffield (Nov 19, 2011)

They also would like to pay more for Apple computer.
Majority are always ignorant.

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By Veducci (Nov 19, 2011)

Whether or not Americans buy a Nikon or a Sony they still recognize Nikon as a premier camera maker.
The Sony name invokes " Play Station" or "Walkman" whereas the Nikon name invokes high quality / expensive camera , at least to those who aren`t glued to the camera forums. This may be why Nikon is able to get more for their product.
If money were no object everyone would probably like to own a Leica, but for those who can`t afford one ,they would choose what they think is the next best, Nikon of course.

Comment edited 57 seconds after posting

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By justinwonnacott (Nov 19, 2011)

When the history writers examine the late twentieth century to date, marketing, marketing research and how manufacturers exploit demographic data may be seen as the pivotal forces in what has shaped our world. Lens and sensor performance has very little to do with it , for many of us the camera we buy IS the image we are pursuing and don,t the advertising flacks know it!

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By Nikon_Guy (Nov 19, 2011)

This type of thinking is great for Nikon as they know now that they can charge even more for their products... as a nikon consumer I feel that Nikon already is getting more than their products are worth. Yes I know that the other vendors help to keep pricing on a some what even scale, but Nikon now has a red light so to speak to over price their products... Oh well.

0 upvotes

By Veducci (Nov 19, 2011)

A big plus for Nikon (and Canon) is their stability.
If you look at what is happening with Olympus shares down 80% and Sony losing money 4 yrs running I wouldn`t want to be buying any of their high end cameras and or lenses.

0 upvotes

By TimK5 (Nov 19, 2011)

To quote Einstein: "Only two things are infinite, the universe and human stupidity, and I'm not sure about the former."

0 upvotes

Total comments: 99 1 2