Art serves as a means for consumers to showcase resilience and navigate volatile geopolitical tensions. Disenchanted by political leaders who fail to reflect their concerns, Art-lennials are keen to buy from artists who explore matters that are important to them.
Whilst art proves to be opportune for brands and retailers to nurture empathy and engagement with consumers who seek to express their values in their investment, Art-lennials are redefining the ways they shop for and interact with Art.
Robert Klara explored in an article for Adweek that this cohort are no longer visiting museums for art inspiration. Instead, their discovery channels are instagram and pinterest. Echoing this, Jing Daily disclosed that art and luxury markets have observed a shift from traditional brick and mortar stores and auction houses. This is most notable in China, where Art-lennials are using digital means to purchase art. This comes as no surprise, as this cohort grew up in a digital age. Although, this shift is also mirrored in the US, as 23% of consumers use online to purchase art. This statistic contrasts to just 20% of US consumers who turn to museums.
Art-lennials are embracing technology to simplify how they shop for art. Recognising the investment opportunity when it comes to art, Art-lennials are attending online courses to get a deeper understanding of the industry.
Appealing to the rise of Art-lennials, Gucci has created a museum inspired retail concept called Gucci Garden. A key feature of the experiential concept includes a retrospective room, that showcases artwork put together and authored by Italian fashion curator Maria Luisa Frisa.
Art serves as a way to express values. Brands and retailers should consider how borrowing from the world of art can be a platform to create engagement based on shared-value.
As Art-lennials turn to online platforms to explore art, brands and retailers can trade on this opportunity by reflecting on how art can be incorporated within their communication strategy and store design.
The gaming industry is growing in more than one way. Alongside gamers, it is spreading in to fashion, beauty and other retail experiences.
With increased awareness surrounding climate change, more people are seeking to buy more consciously, fuelling a rise in demand for second hand stores.