What happened to art fairs and shows in 2020, and what does this mean for the future?

Out of 365 global art fairs planned for 2020, 61% were canceled, 37% held live events, and only 2% held hybrid alternatives. When these events do come back, they won’t be at full strength anytime soon. Even a 10% reduction in attendance can make the difference between profit and loss at a show—and that 10% might include the one person who would have bought $10,000 worth of work. While art shows and fairs are valuable for validating work, testing new directions, and aggressive lead capture, you have to plan for them not being reliable. The prudent approach is to redirect the time, money, and resources you would have spent on shows—booth fees, travel, hotel costs, time away from family—into marketing channels you own and control. The smart move is building the unfragile part of your business: your online presence and direct-to-consumer sales.

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Asked by general teaching point · Answered by Patrick Shanahan and Nick · art-marketing-podcast · 2021-03-25