Catalog Sales on Rise: WEFA
Catalog sales continue to grow at a faster rate than total sales to consumers and businesses in the United States, according to a recently updated study commissioned by the Direct Marketing Association and conducted by The WEFA Group Inc.
Catalog sales are expected to reach more than $87 billion this year-a 7.7% increase over 1997 sales of almost $81 billion.
WEFA forecasts an annual growth rate of 6.1% for consumer catalogs, compared with 5.2% for consumer sales. Business-to-business catalog sales are projected to rise annually at a rate of 6.9%, compared with a rate of 5.7% for business-to-business sales.
Catalog industry hiring continues on the upswing, although a number of improvements in graphics, printing and databases are expected to slow the growth of job creation. Cataloger employment is projected to run at a 2.1% compound annual growth rate in the years 1998 to 2003.
>From 1993 through 1997, catalog advertising expenditures grew at 7.1% annually, with similar results forecast for this year. However, due to a wide array of technological efficiencies, catalogers’ ad spending is expected to increase at a somewhat slower rate over the next five years.
