What are the three major trends driving art sales in Q4 2020?

Three major trends are driving this year’s Q4: First, increased e-commerce adoption across all demographics—even seniors in their 60s and 70s have dramatically increased their online purchasing, jumping from 15% to 21% and 10% to 16% respectively. Second, sales are moving earlier in the holiday calendar and lasting longer. Major retailers started holiday promotions in mid-October, and the season now effectively runs all of Q4 through Christmas. Third, retail is not coming back anytime soon. According to surveys, 64% of holiday budgets will be spent online, 51% of shoppers are anxious about in-store shopping, and 49% won’t resume pre-pandemic shopping patterns until a vaccine is developed. Major retailers including J.Crew, Neiman Marcus, and Brooks Brothers have filed for bankruptcy. This creates a massive opportunity for direct-to-consumer artists and small business owners.

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Asked by synthesized from presentation · Answered by Patrick Shanahan · art-marketing-podcast · 2020-11-13