Why is merchandise important when art itself is not an impulse purchase?

Art is not an impulse item - it requires consideration, possibly spousal approval, thinking about whether it matches the home decor, deciding on framing options, and other friction points. But gift items and merchandise ARE impulse items. They can be bought right now, on the spot. People don’t need significant other approval for a pillow or a mug. There’s no question about framing or matching existing art. That’s why these items are so interesting and valuable to an art or photography business - they remove the friction inherent in buying art. Not everyone who walks into your store (physical or virtual) is ready to spend $2,500 on an original or even hundreds on a print, but they might spend $50-60 on a Mother’s Day gift item. And here’s the bonus: the easiest return customer to get is one you already have. Once someone buys from you - even something small - they’re much more likely to come back later for larger purchases.

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Asked by an artist questioning the value of merchandise · Answered by Patrick Shanahan and Nick · art-marketing-podcast · 2021-03-06