What conditions are making 2020's fourth quarter especially important for online art sales?

There’s a perfect storm of conditions that will make the 2020 fourth quarter potentially the biggest art selling season ever for artists selling online. First, the economy was strong before the pandemic. Second, during lockdowns, people stopped spending on restaurants, entertainment, babysitters, and outside activities—meaning they have more disposable income than ever before. Third, people are working from home indefinitely and spending far more time in their houses, making them more aware of their living spaces and the need for art on their walls. Fourth, all traditional ways of acquiring art—galleries, art shows, fairs—are extremely difficult or impossible to access. Fifth, ecommerce sales have been at Black Friday levels every single week since April, with some data showing 204% year-over-year growth. Search volume for terms like ‘buy art online’ has gone through the roof. If it’s already at Black Friday levels now, imagine what actual Black Friday and the holiday season will bring. This shift from offline to online is permanent for the foreseeable future, creating unprecedented opportunity for artists selling direct online.

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Asked by general teaching · Answered by Patrick Shanahan and Nick Friend · art-marketing-podcast · 2020-07-03