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 - Industry SWOT Analysis Chapter
IBISWorld analysis reveals that the market for online art sales remains in the growth stage of its life cycle. Reasons include the growth of the industry's value added (IVA), which measures its contribution to the economy, versus US GDP, the rate at which businesses are expected to enter the market, and the rapid pace of technological change. In general, the overall E-Commerce and Online Auctions industry, of which art e-tailers are a part, has exhibited strong growth and is forecast to continue excelling.
IVA for online art sales is forecast to increase at an annualized rate of 8.9% during the 10 years to 2018. Meanwhile, US GDP growth is forecast to increase only 2.1% each year on average during the same period... purchase to read more