What do the trends suggest about Q4 2020 for online art sales?

Q4 2020 is projected to be the biggest art selling season in years, possibly decades. Several factors are converging: the economy and stock market remain strong, consumer spending has shifted dramatically as traditional outlets (travel, events, dining, sports) are limited, people are working from home with no end in sight, and physical art venues (galleries, shows) remain closed. E-commerce adoption has accelerated 4-6 years due to COVID, meaning we’ve reached 2030-level online purchasing behavior in 2020. All 2019 e-commerce volume was surpassed by Q3 2020, and Q4 is historically the biggest quarter. Retail stores are boarded up (50-60% closures), making online the primary buying channel. Artists who prepare now can capitalize on unprecedented opportunity.

Asked by synthesized-from-teaching · Answered by Patrick Shanahan and Nick · art-marketing-podcast · 2020-09-02