WILL PEOPLE BUY ART WITH THEIR WATCH?

H T I TW R A Y U B E ? L H P C O T E A P W L L R I I W E TH PAUL SKELDON Mobile  Editor,  InternetRetailing.net   Managing  Editor,  Telemediaonline....
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H T I TW

R A Y U B E ? L H P C O T E A P W L L R I I W E TH PAUL SKELDON Mobile  Editor,  InternetRetailing.net   Managing  Editor,  Telemediaonline.co.uk   Ac9ng  Editor,  eSeller.net   Freelance  tech  journalist,  video  maker  and  glasses  wearer  

03.09.15

HOW WE SHOP HAS CHANGED

•  Globally  ecommerce  accounts  for  $1.471trn  in   sales   •  That’s  a  pile  of  dollar  bills  527,  108  N  high   •  Or  $2466  per  digital  shopper    

HOW WE SHOP HAS CHANGED •  Three  quarters  of  UK  shoppers   shop  online   •  They  will  spend  £52.2bn  online   in  2015   •  Its  growing  at  around  16%  pa   •  Average  Brit  spends  £1174  

HOW ART IS BOUGHT HAS CHANGED •  According  to  Hiscox  Annual  Art   Trade  Report  2015  online  art   market  was  worth  $2.64bn  in   2014   •  That’s  up  from  $1.57bn  in  2013   •  Likely  to  hit  $6.3bn  by  2019  

HOW ART IS BOUGHT HAS CHANGED •  49%  of  art  buyers  surveyed  are   buying  online   •  65%  of  these  are  repeat  buyers   •  48%  of  online  buyers  s9ll  prefer   physical  spaces   •  79%  buy  from  more  than  one   pla\orm  

HOW ART IS BOUGHT HAS CHANGED •  62%  buy  pain9ngs   •  30%  of  these  were  below  £1000   •  29%  bought  pain9ngs  from   £1000  -­‐  £5000   •  18%  from  £5000  -­‐  £10,000   •  5%  spend  more  than  £50,000    

HOW ART IS BOUGHT HAS CHANGED •  •  •  • 

22%  bought  sculpture   31%  under  £1000   62%  £1000  -­‐  £10,000   6%  more  than  £10,000  

HOW ART IS BOUGHT HAS CHANGED •  40%  bought  photographs  under  £500   •  31%  spent  £500  -­‐  £1000  on  photos   •  15%  spend  more  than  £10,000  on   photographic  art   •  46%  have  bought  a  drawing  for  under   £1000   •  47%  of  drawing  buyers  have  bought   once;  41%  more  than  once   •  53%  of  online  buyers  have  bought   prints  

WHY ART AND E-COMMERCE WORK WELL TOGETHER •  80%  of  online  art  buyers  see  it  as  easy  to   search     •  71%  see  it  as  best  way  to  discover  new  art   and  ar9sts   •  67%  see  the  bidding  and  buying  process  as   simple   •  66%  see  online  as  offering  much  wider   choice   •  45%  believe  it  is  less  in9mida9ng  online  

BUT ONLINE IS MORE THAN JUST PCS •  33%  of  online  sales  in  2015  will  be   on  mobile   •  Mobile  will  hit  “at  least”  44%  by   2019   •  “digital  shopping  and  buying  long   ago  entered  the  mainstream  for   most  UK  consumers,  and  buying  via   mobile  is  just  the  next  step”   •  “device-­‐agnos9c  buying,  thanks  to   users’  familiarity  with  these  various   device  types,  is  becoming  the  norm”  

BUT ONLINE IS MORE THAN JUST PCS •  Average  consumer  across  17   countries  including   Australia,  China,  India,   Japan,  the  UK  and  the  USA     •  Typical  shopper  uses  5   devices  in  shopping   journey…   •  …  up  from  2.8  in  2014  

03.09.15

E-COMMERCE IS MOBILE •  More  than  50%  of  shoppers  use  mobile  during   their  shopping  ‘journey’   •  M-­‐commerce  is  already  worth  £18bn   •  By  2019  it  will  be  worth  £53bn  in  the  UK  alone   •  M-­‐commerce  is  shopping  on  steroids…    

MOBILE BRINGS SO MUCH MORE •  M-­‐commerce  is  more  than  just  shopping  on  a   phone  mobile  is  also  good  at:     •  engagement   •  payments   •  re-­‐engagement   •  social   •  loca9on   •  context   •  interac9on  

MOBILE IS SO MUCH MORE THAN A PHONE

ENGAGEMENT •  75%  of  customer  use  4   channels  to  interact  with  a   retailer:  website,  social  media,   email  and  either  app  or  SMS  up   to  the  point  of  purchase   •  10%  of  people  spend  more  if   contacted  by  retailer  via  mobile     •  50%  of  consumers  act  on  a   voucher  

ENGAGEMENT •  SMS  and  email  are  key   engagement  channels   •  53%  want  retailers  to  use  SMS  for   telling  them  9mely  things   •  85%  priori9es  unopened  text  over   email   •  59%  want  to  receive  promos  by   email   •  BUT  43%  are  unwilling  to  share   their  mobile  number  

PAYMENTS •  92%  of  UK  mobile  users  will  make  a  mobile   payment  in  2015   •  Apple  Pay  has  garnered  a  lot  of  publicity   •  And  seems  to  be  driving  contactless  payments  –   MasterCard  has  seen  560%  increase  in   contactless  transac9ons  in  a  year            –  BarclayCard  has  seen  it  triple  in  a  year   •  Many  other  ways  to  pay…    

SOCIAL •  29%  of  the  world’s  popula9on  uses  social  media   •  1.65bn  people  predominantly  engage  with  social   media  on  mobile     •  Facebook  dominates  –  with  more  than  1bn  users   •  And  social  is  important  to  art  buyers…  

SOCIAL •  •  •  •  • 

52%  of  online  art  buyers  use  Facebook   34%  Instagram   27%  LinkedIn   26%    Twijer   41%  of  online  art  buyers  found  online  buying   pla\orms  via  social  media  

SOCIAL •  LEARN  Its  where  people  learn  about  new  ar9st,   new  sites,  new  ways  to  buy     •  CONNECT  Its  where  people  follow  and  connect   with  new  talent,  dealers  and  other  buyers   •  CONFIRM  Social  also  provides  and  unofficial   dose  of  peer  confirma9on  about  buying  decisions   •  INFLUENCE  Its  where  buyers  can  influence  (and   be  influenced)  

MOBILE MAKES THIS HAPPEN •  It  is  instant   •  It  is  always  on   •  It  has  camera/video/sharing   capabili9es   •  It  can  then  lead  to  actual   purchases   •  It  offers  a  virtuous  circle….  

A VIRTUOUS CIRCLE OF MOBILE Marke9ng  

Purchase  

Engagement  

Browsing  

Social/ sharing  

T R A Y U B E L P ? O H E C P T L A L I W W R I – E O H S T H T I W

03.09.15

WEARABLES

•  65%  of  consumers  TODAY  want  wearables  to  influence   their  experience  of  retailing   •  27%  want  one-­‐click  payment  with  wearables   •  17%  of  consumers  have  some  sort  of  wearable  tech   •  34%  of  those  that  have  a  smartwatch  already  shop  on   it   •  And  all  the  benefits  of  mobile  can  be  translated  on  to   wearables…  

THE FUTURE •  Art  will  be  bought  through  all  channels  –  though   perhaps  not  actually  on  a  watch…   •  Online  and  mobile  will  be  increasingly  used  to   engage  art  buyers  and  drive  sales  through  all   channels   •  Social  on  mobile  will  play  an  increasing  role  in  art   buying   •  Remember  this  is  the  future…  

THE FUTURE

THANK YOU

PAUL SKELDON @etail_paul   @telemediaTweets   @MrSkeldon   03.09.15

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