Successfully reported this slideshow.
Confidential
American Attitudes Toward Art
A Survey Commissioned by Invaluable
March 2016
Confidential
Why do American’s attitudes toward art matter?
• Art, at every price point, is big business in America. Accor...
Confidential
Diving Deeper: American Attitudes Toward Art Survey
• About the Survey
– Survey was commissioned by Invaluabl...
Confidential
Key Findings
• More U.S. consumers are discovering art using social media than by
visiting museums or art gal...
Confidential5
Art Appreciation & Discovery
Confidential
Art Appreciation
• Almost one-half (48%) of respondents indicated that they
like and/or appreciate art.
• Age...
Confidential
Preferences on Art Genres
• Impressionist art was found the most visually appealing by
nearly half (42.1%) of...
Confidential
Art Discovery: Instagram vs. Museums
• For the first time, a higher percentage of U.S. consumers
primarily di...
Confidential
Art Discovery: Instagram vs. Museums (Cont.)
• Age plays a significant role in how U.S. consumers
discover ar...
Confidential
Visiting Cultural Institutions
• While social media is still the most preferred method of art
discovery, cons...
Confidential11
Art Purchase & Investment
Confidential
Frequency of Purchase & Art as Investment
• Currently 65.3 percent of U.S. consumers purchase art at least
ev...
Confidential
Age & Investing in Art
• One in three U.S. consumers (33.7%) believe buying art is a
good investment.
• Young...
Confidential
Buying Art Online
• 37% of U.S. consumers would buy art online.
– Age plays a factor, as 56.9% of young Mille...
Confidential
Art Buying Preferences
• The percentage of U.S. consumers who prefer to purchase
art through an online market...
Confidential
Art Buying Preferences (Cont.)
• Purchase preference is impacted by age and income.
– Roughly one in four you...
Confidential
Conclusions
• Younger generations (age 18-34) are more likely to
discover and purchase art online.
– As today...
Upcoming SlideShare
Loading in …5
×

American Attitudes Toward Art - Invaluable 2016

8,722 views

Published on

Data released by Invaluable -- the world’s leading online marketplace for fine art, antiques and collectibles -- examines how consumer attitudes and preferences toward art will impact behavior for future generations. The “American Attitudes Toward Art” survey, fielded to nearly 5,000 U.S. adults in March 2016, found that age is a major factor in how U.S. consumers discover and purchase art, especially when it comes to capturing the next generation of art buyers.

Published in: Art & Photos

American Attitudes Toward Art - Invaluable 2016

  1. 1. Confidential American Attitudes Toward Art A Survey Commissioned by Invaluable March 2016
  2. 2. Confidential Why do American’s attitudes toward art matter? • Art, at every price point, is big business in America. According to a 2014 National Art Index, the arts helped reduce the U.S. international trade deficit -- U.S. exports of arts goods (e.g., movies, paintings, jewelry) increased from $64 to $75 billion between 2010 and 2012, up 17 percent. • Art is not just for the 1%. Each year, U.S. consumers spend approximately $150B on arts and entertainment.
  3. 3. Confidential Diving Deeper: American Attitudes Toward Art Survey • About the Survey – Survey was commissioned by Invaluable, the world’s leading online marketplace for fine art, antiques and collectibles, to study U.S. consumer attitudes and behavior around art, art preferences and art purchases. – Survey received 4,534 responses from U.S. consumers age 18+, with a 16.4% response rate and a 95% confidence level. • Survey was weighted against the U.S. Census Bureau Current Population Survey for age, gender and region of the U.S. to be representative of the population. 3
  4. 4. Confidential Key Findings • More U.S. consumers are discovering art using social media than by visiting museums or art galleries. – 22.7% of U.S. consumers discover art through social media channels like Instagram and Pinterest, while 20% of U.S. adults discover art through museums and 15.9% visit art galleries. • Millennials are increasingly discovering and purchasing art digitally. – Almost half (44.3%) of young Millennials (age 18-24) and 33.8% of older Millennials (age 25-34) discover art through social media channels like Pinterest and Instagram. – 56.9% of young Millennials (age 18-24) and 51.6% of older Millennials (age 25-34) would buy art online, versus only 19% of Baby Boomers (age 65+). • U.S. consumers, especially younger generations, see the long-term investment value of purchasing art. – One in three consumers (33.7%) believe that buying art is a good investment. – Nearly half (41.9%) of young Millennials and 37.2 percent of older Millennials believe buying art is a good investment. 4
  5. 5. Confidential5 Art Appreciation & Discovery
  6. 6. Confidential Art Appreciation • Almost one-half (48%) of respondents indicated that they like and/or appreciate art. • Age impacts art appreciation. Baby Boomers (age 65+) reported the highest appreciation of art, followed by older Millennials (age 25-34). 6 Yes, I like and/or appreciate art I don’t know 48.8% (+1.8/-1.8) No, I don’t like or appreciate art 31.2% (+1.7/-1.7) 19.9% (+1.5/-1.4) 55.7% (+5.1/-5.2)65+ 25-34 55-64 18-24 45-54 35-44 Age Ranges 50.4% (+4.0/-4.0) 49.9% (+4.3/-4.3) 48.9% (+4.7/-4.7) 45.5% (+4.4/-4.3) 45.0% (+4.4/-4.3)
  7. 7. Confidential Preferences on Art Genres • Impressionist art was found the most visually appealing by nearly half (42.1%) of U.S. consumers. 7 42.1% (+2.7/-2.7) 6.2% (+1.6/-1.3) 6.9% (+1.7/-1.4) 21.8% (+2.4/-2.2) 23.0% (+2.4/-2.2)
  8. 8. Confidential Art Discovery: Instagram vs. Museums • For the first time, a higher percentage of U.S. consumers primarily discover art using social media than by visiting museums or art galleries. – 22.7% of U.S. consumers discover art through social media channels, such as Instagram and Pinterest. – 20% of U.S. adults discover art through museums and 15.9% visit art galleries. 8 22.7% (+2.3/-2.2) 20.8% (+2.4/-2.2) 15.9% (+2.2/-2.0) 14.6% (+2.2/-1.9) 14.1% (+2.1/-1.9) 11.8% (+2.0/-1.7) Instagram, Pinterest or other social media Museums Art galleries Other Online Marketplaces or websites Art fairs
  9. 9. Confidential Art Discovery: Instagram vs. Museums (Cont.) • Age plays a significant role in how U.S. consumers discover art. – Almost half (44.3%) of young Millennials (age 18-24) and 33.8% of older Millennials (age 25-34) discover art through social media channels like Pinterest and Instagram. 9 Age Ranges
  10. 10. Confidential Visiting Cultural Institutions • While social media is still the most preferred method of art discovery, consumers continue to visit museums and galleries. – Nearly 40 percent (38.6%) visit art museums or galleries once a year, and 14 percent visit on a monthly basis. 10 Once a year Once every few years I never visit museums or art galleries Once a month Once a week 38.6% (+2.8/-2.7) 30.6% (+2.7/-2.5) 14.8% (+2.2/-2.0) 13.9% (+2.1/-1.9) 2.0% (+1.6/-0.9)
  11. 11. Confidential11 Art Purchase & Investment
  12. 12. Confidential Frequency of Purchase & Art as Investment • Currently 65.3 percent of U.S. consumers purchase art at least every few years. • The number Baby Boomers (48.6%) who purchase once every few years was double in comparison to young Millennials (24.1%). 12 65+ 25-34 18-24 35-44 45-54 55-64 More than once a month A few times a year Once a year Once every few years 34.7% (+2.3/-2.2) 65.3% (+2.2/-2.3) I do not purchase art 24.1% (+6.6/-5.6) 37.9% (+6.0/-5.6) 38.3% (+6.9/-6.4) 39.1% (+7.4/-6.9) 38.5% (+7.0/-6.5) 48.6% (+8.4/-8.4) Age Ranges
  13. 13. Confidential Age & Investing in Art • One in three U.S. consumers (33.7%) believe buying art is a good investment. • Younger generations, including 41.9 percent of young Millennials (age 18-24) and 37.2 percent of older Millennials (age 25-34) believe buying art is a good investment. 13 I don’t know Yes, I think buying art is a good investment No, buying art is NOT a good investment 21.4% (+2.4/-2.2) 33.7% (+2.8/-2.7) 44.9% (+2.9/-2.9) 37.2% (+6.0/-5.6) 32.1% (+7.4/-6.6) 31.9% (+8.1/-7.1) 31.1% (+6.8/-6.1) 28.4% (+6.7/-5.8) 41.9% (+7.1/-6.8) 25-34 18-24 45-54 65+ 35-44 55-64 Age Ranges
  14. 14. Confidential Buying Art Online • 37% of U.S. consumers would buy art online. – Age plays a factor, as 56.9% of young Millennials (age 18-24) and 51.6% of older Millennials (age 25-34) would buy art online, versus only 19% of Baby Boomers (age 65+). 14 18-24 35-44 45-54 55-64 65+ 25-34 56.9% (+5.9/-6.1) 51.6% (+7.0/-7.0) 36.3% (+6.9/-6.4) 30.6% (+7.3/-6.4) 22.9% (+6.6/-5.5) 19.0% (+7.7/-5.9) Age Ranges
  15. 15. Confidential Art Buying Preferences • The percentage of U.S. consumers who prefer to purchase art through an online marketplace or website (15.3%) was more than double of those who prefer to buy art at an in- person auction (7.3%). 15 At an art fair Other At a flea market At an art gallery At an online marketplace or website At an in-person auction 15.2% (+2.2/-1.9) 15.9% (+2.3/-2.1) 16.2% (+2.3/-2.1) 19.2% (+2.4/-2.2) 26.2% (+2.6/-2.5) 7.3% (+1.8-1.5)
  16. 16. Confidential Art Buying Preferences (Cont.) • Purchase preference is impacted by age and income. – Roughly one in four young Millennials (age 18 to 24) prefer to purchase art through an online marketplace or website. – More than a third (35.7%) of U.S. consumers making over $150,000, and 26% of those making $100,000 to $149,999, prefer to purchase art at an online marketplace or website. 16 $0-$24,999 $100,000-$149,999 $50,000-$74,999 $75,000-$99,999 $25,000-$49,999 $150,000+ 35.7% (+25.5/-19.4) 16.8% (+8.6/-6.1) 26.0% (+16.3/-11.6) 15.9% (+4.4/-3.6) 14.5% (+10.1/-6.4) 13.6% (+3.0/-2.5)
  17. 17. Confidential Conclusions • Younger generations (age 18-34) are more likely to discover and purchase art online. – As today’s younger generation ages, more art will likely be sold through online channels. • Younger generations increasingly believe that art is a good investment. – We can expect to see more young collectors investing in art, especially as they age and their average household income rises. • Despite preference for social media to discover art, consumers are still visiting museums and galleries. – Developing a digital strategy will be important for reaching and attracting new visitors, especially younger generations of patrons. 17

×