Providing online digital photo processing and related services, myPhotopipe.com, Inc. (OTC: MPPC) recently received good news concerning new data involving digital prints and online channeling.
The February 2008 PMA Monthly Printing and Camera Trends Report was released this week and shows that total prints made from digital images increased 25% compared to last year’s data for the month of February. This report also shows that the total share of the market for orders online with mail delivery rose 4.1% to 15.6%. This concludes a year-over-year growth of 51% for online ordering with mail delivery. Since December of 2006, February became the 14th consecutive month where prints made from digital images rose by double-digits.
Douglas Keeney, CEO of myPhotopipe.com, said, “myPhotopipe.com has always been a believer in the online model for ordering digital prints, and we remain the only “pure play” in the online ordering with mail delivery channel. It’s easier. It’s convenient. It delivers your prints to your home. So, yes, this latest data represents excellent news for our space and for our Company. Unfortunately, most people will overlook the most important part of the data, which involves the compounding effect, the perfect storm if you will, of a growth market and a growing share of that market. On a constant dollar basis, the value of online ordering has surged almost 300% since 2006.”
Looking at the numbers on a quarterly scale, there has been a consistent increase of photographs being ordered online with mail delivery. Starting in March of 2007, the number was 12.4%. June registered at 13.5%, September reported 14.0%, and December showed 15.1%. During morning trading, the company’s stock rose 33.33%.
The company is anticipating substantial growth in new products and customers, “We’re adding between 400 and 600 new customers a month and seeing our web site bookmarked approximately 12,000 times a month. The new industry data tells us that the future value of every new customer increases over time, which in part explains why those of us in both the consumer and professional segment of this business are enjoying extraordinary sales growth,” added Keeney.
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