Valerie Alde-Hayman

• HP, Brother, and Canon were major drivers of product launch activity in 2024
• Placements across channels increased by 5% on average, with ecommerce dominating placement counts
• Average net prices increased by 2%
• In-store average promotion values increased by 11% compared to 2023 while the average discount off of shelf was 27%
• Advertising activity for the full year increased by 2% compared to 2023

Personal & SOHO Printers represented the majority of 2024 product introductions at 76%, while Business Printers comprised the remaining 24%. Across the two categories, HP introduced the highest number of products (33), followed by Brother in second place with 18 models, and Canon rounding out the top three with 17.

By technology, laser/LED printer hardware products led with 51 introductions, or 49% overall. Brother represented most of these product launches (18 SKUs), followed by Lexmark (12). Inkjet came in second, representing 42% of launches with 44 new products introduced. HP comprised 26 of the 44 inkjet introductions (59%), and Canon (11 SKUs) and Epson (seven SKUs) were the only other brands to launch new inkjet models. Dye-sublimation technology was third with eight product launches, followed by Zink with just one.

In 2024, Brother achieved the most significant growth, increasing its average placement count by 23% year-over-year to 855. HP maintained its market leadership with the highest average placements at 1,250, up 4% from 2023. Epson also showed steady progress, with a 7% increase in average placements to 703. Meanwhile, Canon remained stable with a slight 1% decline, averaging 898 placements, while Lexmark experienced a modest 3% decrease to 589. Xerox faced the sharpest drop, with average placements falling 12% to 231, highlighting struggles to maintain relevance in a competitive landscape.

In 2024, inkjet and laser/LED technologies both saw year-over-year growth, with inkjet placements increasing by 8% to an average of 1,902 and laser/LED placements rising by 2% to an average of 2,622.

By segment, average net prices increased for A3 devices but were down or flat for A4 models. In 2024, A3 MFP net prices increased by 6% compared to 2023 and were up 2% for A3 SFPs. Meanwhile, A4 MFP average net prices were down 3% and were flat for A4 SFPs.

When broken down by size and color capability, average net prices changes varied between 2024 and 2023. A3 B&W net prices were down 12% on average year-over-year but increased by 8% for A3 color models. Average A4 B&W net prices were flat but down 4% for A4 color devices.

By brand, HP solidified its position as the market leader, increasing its ad count by 18% to 1,239 ads in 2024, up from 1,052 in 2023. This marked HP’s most significant year-over-year gain among all brands, accounting for nearly 50% of the total market’s ad activity.

Brother showcased impressive growth, with its ad count rising 64% from 242 in 2023 to 397 in 2024. This surge signals Brother’s strategic push to enhance its visibility and capture greater market share. It should be noted, however, that the majority of Brother’s ads were “Ad Only,” which do not feature any incentive value attached.

In contrast, Epson and Canon saw significant declines in advertising activity. Epson’s ad counts dropped by 21% from 875 in 2023 to 695 in 2024. Similarly, Canon’s advertising efforts fell sharply, with ad counts declining by 41% from 256 to 152. Meanwhile, Fujifilm maintained a consistent but small presence, increasing its ad counts slightly from 11 to 16 as it continued to focus on the niche compact photo printing segment.

Inkjet technology accounted for the majority of ads in both 2023 and 2024. However, ad counts for inkjet devices slightly declined year-over-year, falling from 1,999 ads in 2023 to 1,897 ads in 2024, a 5% decrease. Quarterly performance fluctuated, with Q3 2024 showing a strong rebound at 515 ads after a decline in Q2 2024 (460 ads). The decrease in Q4 2024 to 443 ads reflects a potential shift in focus to other technologies or marketing strategies.

Laser/LED technology showed significant growth in 2024, with ad counts rising from 420 in 2023 to 565 in 2024, a 35% year-over-year increase. The most notable gains occurred in Q1 2024 (160 ads), a 100% increase compared to Q1 2023 (80 ads).

Dye-sublimation ad activity more than doubled, increasing from 13 ads in 2023 to 26 in 2024. The growth was most pronounced in Q4 2024, with 12 ads, marking a significant rise from four ads in Q4 2023. This suggests a growing focus on niche markets like photo printing, particularly during the 2024 holiday shopping season.

By merchant, Staples solidified its position as the leading advertiser, increasing its ad activity year-over-year from 1,767 ads in 2023 to 1,838 ads in 2024. Office Depot re-entered the market after a notable hiatus, signaling renewed interest in the segment. Best Buy, however, experienced a noticeable decline, with ad counts falling from 606 in 2023 to 537 in 2024, particularly in Q4. Meanwhile, Costco and Walmart emerged as significant contributors in 2024, with Costco more than doubling its ad activity and Walmart ramping up efforts in Q4. Meanwhile, BJ’s Wholesale Club maintained moderate growth. In contrast, Target saw reduced engagement, and Sam’s Club remained relatively flat year-over-year.

The value and depth of promotions offered in the brick-and-mortar channel became increasingly aggressive in 2024. The average promotion value for the year increased to $78, marking an 11% increase compared to 2023. Overall, the full year also closed out with an average discount of 27% off shelf price, up three points compared to 24% in 2023.

By brand, average promotion values in 2024 increased across several brands including HP (16% higher promotion value year-over-year), Epson (14%), and Polaroid (6%). Meanwhile, other brands reduced the average promotion value offered year-over-year, with decreases observed from Fujifilm (-18%), Brother (-8%), and Canon (-1%). It should be noted that assortments from Polaroid and Fujifilm include photo printers such as the Hi-Print and instax lines, respectively.

Full-year 2024 average discount depth was more aggressive than 2023 across all brands except Fujifilm. However, average percent discount increases were observed in the single-digits, ranging between one point and four points higher than in 2023. Canon featured the highest average percent discount at 29% off shelf price, followed by HP (28%) and Epson (27%).

By technology, average 2024 promotion values increased year-over-year for key segments including inkjet (+7%) and laser/LED (+20%). Similarly, average discount depth increased by three points to 28% for inkjet and by two points to 25% for laser/LED. In contrast, average promotion values declined for photo printing devices featuring dye-sublimation technology (-30%) and Zink (-2%). No promotions were observed on thermal-based printers.