in art
Revamping spaces every 3-5 years has become a norm among Americans.
Often, it’s as basic as changing the wall paint or swapping the old rug. But sometimes, it’s a major renovation based on what’s trending.
In fact, a study shows that an average American shells out more than $744 on interior design each year.
That’s big money and it places the United States second only to Canada in decor spending in North America.
But here’s something retailers should know: Decor art is far beyond those beautiful paintings; it’s a broad category that includes other profitable segments like:
So, having a narrow focus on just one segment can mean lost revenue.
The way forward? Stock your shelves with a mix of trendy decor items across various segments and sell them at competitive prices.
Let’s have a look at some noticeable trends in the decor art space:
Artwork has always held a special place in decor, but now bigger pieces are becoming central to contemporary decor schemes.
Why? Because a single large artwork can create an immediate visual impact when displayed in various settings, such as corporate lobbies, living rooms, etc.
Here’s what Statista reveals: The U.S. led the global art market with $30.2 billion in 2022.
For retailers, this trend offers a golden opportunity. By adding bigger pieces made of different materials and colors to your shelves, you can attract art enthusiasts to your store.
When it comes to decor art, wallpapers have remained a popular choice since 2022.
Market projections suggest an upward trajectory. The global wallpaper market size reached US $2.1 billion in 2022 and is expected to hit US $2.6 billion by 2028.
That’s a promising avenue for retailers. Offering an array of wallpapers in your store — from textured finishes to various patterns, colors, and sizes — you can generate good revenue.
The decorative rug market crossed $3.7 billion in 2022, reflecting a shift in consumer preferences away from age-old designs.
Today, consumers are seeking irregular rugs in different shapes and colors to add a unique touch to their spaces.
So, including them in your inventory would be a lucrative option.
When selecting products, focus both on quality and aesthetics.
Look for neatness and detail of each item. For example, if you are buying a painting, make sure the paint isn’t chipped off or the canvas is free from any damage or tear.
Since the younger generation now cares more about the planet, manufacturers have started producing decor art products with eco-friendly materials.
So, as a retailer, it’s essential to align with this eco-movement. Consider adding sustainable products to your collection such as paintings made with non-toxic paint, mirrors framed in recyclable wood, or floor tiles made of natural materials like stone or ceramics.