E-commerce: Changing the art market | BLOUIN ARTINFO
Louise Blouin Media
Louise Blouin Media, Inc.
88 Laight Street
New York
Blouin Artinfo

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E-commerce: Changing the art market

E-commerce: Changing the art market

With smartphones now available at a relatively low cost, consumers are able to view and purchase art just with a tap of a finger. 

With art becoming more popular, the art market is also changing fast. The fastest growing way for consumers to buy art is now through social media, online galleries and online shops. Most art buyers are finding art that they like on the Internet — for example on social media and other online sites, which have inched out traditional galleries and museums. The younger generation is using social media more and more to buy art compared to the older generation. The younger generation is buying art as an investment as well as for appreciation. The art market has now shifted to what we call e-commerce where there is retail growth driven by the millennials. These art purchases online are a reflection of the buyer themselves.

According to the Hiscox Online Art Trade Report, there was a record high growth in the art market in 2014 but it cooled down in 2015. Online art sales grew briskly from 2016 onwards, suggesting that the art market had basically shifted gears to a new sales model called e-commerce. In 2015, online sales grew by 24 percent year over the year, with a 5.1 percent share for the art market. If the rate of online market continues to keep growing at this pace, it is predicted that by 2020, it will reach $9.58 billion. The Hiscox report also shows that 24 percent of bids and 40 percent of visitor traffic came through smartphones, and 32 percent of buyers used a tablet or mobile device to make purchases.

One company that is effectively capitalizing itself on the growth of the online art market is Blouin Artinfo, founded by Louise Blouin. The company has now launched BlouinShop, the world’s largest and best online art and lifestyle marketplace. BlouinShop has a unique blend of more than 100,000 items that have been finely curated for the art of living and to suit individual tastes. The categories available on BlouinShop are not just about fine art but it also offers books and antiques, furniture, decorative objects, jewelry, children’s items and home accessories. It caters to worldwide consumers who admire the real beauty of antiques that are luxurious and have an impact in the art world. The online, curated art collection is pioneering the e-commerce art space with the latest products of artists from all over the globe. The site features a selection of many artists, including a short biography for each.

The goal of BlouinShop is to democratize the art space by bringing consumers onto a platform to satiate their needs. For instance, there are couples who are seeking a unique experience, something that will have a lasting memory for a special occasion. They may want to purchase a one-of-a-kind piece of art that would mean something for both. BlouinShop has what they might be looking for, or anyone for that matter who wants the shopping experience to be as close to the brick-and-mortar experience as possible. The key to increasing customer engagement as the company recognizes is the connection between the consumer and the art where purchasing decisions are highly influenced by emotional connections. BlouinShop is the best place to discover art and provide a way for art-hungry lovers to make art purchases online easily. BlouinShop also has blog descriptions that provide engaging content for art lovers.