The Integrated Economy
is here.

Priorities have shifted for the art professional.

Dealers’ top priorities shifted markedly over 2020 to focus on existing clients, online sales, and finding ways to cut costs. Client relationships, online sales, and art fairs were their top priorities looking ahead to 2021.

– Art Basel & UBS Report 2021 Report

Most gallery sales originated from a pre-existing relationship in the database

31% of online sales went to buyers who previously had contact with the gallery, but only bought online from them for the first time in 2020

– Art Basel & UBS Report 2021 Report

The number one thing that keeps art business awake at night is meeting new clients

According to Art Basel & UBS Report, the size of a dealer’s client base shrank over 2020, with an average of 55 individual clients down from 64 in 2019. Noah Horowitz, Art Basel’s Director of Americas, mentions in the report the the lack of client nurturing has led to a decrease in the dealer client base.

What is the common theme?

The collector is the heart of the buying experience.

 

 

Bi-Monthly Art Fair Guide, January - February 2020

Collectors now expect a personalized customer experience

The biggest challenge remains in how to initially attract clients and convey quality amid an increasing volume of online offerings.

Art galleries with strong digital strategies, every single stakeholder focuses on listening to existing and prospective collectors and learning more about the art their audience wants to collect.

This helps them develop processes that enable them to better communicate with collectors, understand their needs, and make changes as needed.

ARTERNAL is powering the Integrated Economy

  • Collectors have changed and have new expectations
    They want a seamless transaction experience from the gallery wall into their home. Customization and personalization, not a lack of information. Transparent pricing to help them purchase, not hidden price fields.
  • The collector's buying journey
    As the artworld embraces digital, understanding the buying journey is critical to your current and future success. Then, and only then, can you meet buyers where they’re at and drive both in-person and online sales with integrity.
  • Brick and Mortar
    In the former art business world (let’s call it the Brick and Mortar) it was all about knowing your customer through their physical footprint in the gallery.
  • The Integrated Economy
    The Integrated Economy is a phrase (coined by our CEO, Sean Green) to describe this new era for art businesses and art business models that evolves and complements the legacy business model. In this new era, it’s all about connecting both offline and offline experience.

    More and more collectors are collecting online and navigating offline so understanding the online footprint and connecting it to the in-person builds an experience around the collector.
Mary Leigh Cherry Joins Arternal Leadership Team (Transcript With Video)

 

Join the integrated economy today

Let your relationships and expertise bloom. ARTERNAL addresses industry pain points with our integrated solution. Get on with what you love about the art world.



Dive into the world of ARTERNAL