Will the shift to online art buying permanently reduce demand for physical galleries?

Yes, absolutely. There’s only so much total demand for art, and when a huge portion of that demand shifts online—which it has—that’s a slice of pie permanently taken away from physical retail. Galleries now face both less foot traffic due to pandemic concerns AND less overall demand because customers are comfortable buying online. They’re working with a much smaller piece of the pie than they had pre-pandemic. This shift is permanent. Consumer habits don’t go back after major disruptions like this—it’s been proven throughout history with every recession and major event. The world changes, habits change, and there’s no returning to the old way. Physical retail galleries must adapt to this new reality or they won’t survive.

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Asked by artist wondering about long-term gallery viability · Answered by Patrick Shanahan · art-marketing-podcast · 2020-06-27