Industry Analysis & Industry Trends
Online art sales will continue to grow steadily as consumers increasingly use the internet to bid on art auctions. A low trade-weighted index (the measure of the US dollar against foreign currencies) has boosted demand through an increase in overseas art sales. The market for online art sales will continue to benefit from an affluent and global customer base through the next five years, but the double-digit gains in exports exhibited during the beginning of the 21st century will eventually moderate into more stable growth.... purchase to read more
Industry Report - Starting a New Business Chapter
The level of difficulty in starting an online art sales business is moderate. The industry is highly fragmented with a large number of small and independent players dominating the industry. However, new entrants to the industry will be challenged by a number of factors largely stemming from the lack of name recognition.
More established firms that benefit from solid, positive reputations garner the loyalty of both high-end art collectors and recognized artists, both of which directly determine the economic success of the enterprise. New entrants need to more heavily market and promote their services as well as the artists that exhibit at their sites, in order to attract traffic and increase visitors... purchase to read more