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Trends and forecasting in the craft and decorative arts business sector. Lecture by Wendy Rosen for The Arts Business Institute 2009
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Marketplace Trends
Arts Business Institute
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When to Jump
• Timing• Audience• Demographics• Psychographics
No Yes
Where does it go?• Shelf• Table• Pedestal• Floor• Kitchen Counter• Bath Counter• Cabinet
Fad, Fashion or Trend?
Fads Defined
• Temporary
• Product Specific
• Design
Who Collects?
Collector Statistics
• HHI 300,000+• Home 500,000+• Multiple Home owners• 70% Masters Degree• Gardening Interest• Philanthropic• Museum Members• Travel• Culture Vultures
What is American Style?
• Traditional• Contemporary• Transitional• High Energy• High Color• Enthusiasm
Economic Trends
• Supply/Demand• Wealth Trends• New Home
Starts• DIY• Credit vs Debt• Recessions
Future Predictions
1) Art Branding
2) Generational Transition
3) Collector Club Growth
4) Artist Owned Galleries
& Public Studios
Our Slice of the Pie
Design for….
2% of the population.
the well-educated, well-traveled and well-heeled.
They want things that are unique and different.
Where Trends Begin
• Movies
• Television
• Fashion to Décor
• Museum blockbusters
Adding Value
• Spiritual • Message • Maker• Material • Function• Rarity• Originality
The Gift Marketplace…
Under $25,
Under 25 years
Global market
95% Imports
Knock-Offs
Reps vs Makers
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The Handmade Gift
• $125 Average Retail • Meaning & Message• Intimate connection• Honoring• Non-Comparable price• Unique• Future Heirloom• Personally selected
Gifts to Ourselves… Our Home
• Time• Space• Individuality• Values and
beliefs• Self-
expression
What’s Your Style?
• Culture• Education• Family Background• Your Beliefs• Skills• Message• Regional Style• Life Experiences
The Economics of Xmas
• Oct thru Dec = 40%• 58% of Americans not
cutting back on Xmas.• Sales depend on the
calendar… how many Saturdays between Thanksgiving and Xmas.
• When is Chanukah?• Gift card growth 48B
What’s In…
• 1) Eco Pro-Earth• 2) Family• 3) Sharing Values• 4) Diversity• 5) Individualism• 6) Escapism• 7) Humor• 8) Beauty• 9) Nesting• 10) Patriotism
What’s Out…
• 1) Representational animals.
• 2) Common fruits & vegetables.
• 3) Hobby craft style• 4) Molded collectibles• 5) Generic pets• 6) Any style found at
WalMart or Hallmark.
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Creating Demand / Fill Needs
• Outside the norm• Tribal groups• Artistic• Multi-Cultural• High-Tech talkers• Big Ticket buyers• Squeezed for time
Telling Your Story… …or Pushing Your Brand
• Hang Tags• Studio Blog• Personal
Appearances• Co-op Adv• Trunk Shows• Post Cards• Facebook• Twitter
Craft History
• Post Civil War• Industrial Exchanges• Settlement Houses• Post WW2 - College• Post Vietnam -College• Main Street• 14 Billion Craft Sales• DIY Scene