At Idea Generation Gallery we have a keen interest in keeping art as open to a wide range of people as possible. This is why we took the opportunity to get involved in the development of online sales and the latest launch from Culture Label and Own Art. The two companies have teamed up to create an online space where over 5,000 pieces of artwork are available to buy through a payment plan scheme where the full price of the art is broken down into smaller installments (making it more affordable to everybody).
An exhibition was held at IG Gallery displaying a number of the pieces and this latest system of purchasing art. With christmas coming up, this credit crunch-inspired concept will really kick off!
Credit Crunch Art Payment
Own Art and Pay Later with Culture Label
Trend Themes
1. Online Art Sales - There is an opportunity for disruptive innovation in the online art sales industry by implementing payment plan schemes to make art more affordable to a wider audience.
2. Art Payment Plans - The development of payment plan schemes for purchasing art presents a disruptive innovation opportunity to increase accessibility and affordability in the art market.
3. Credit Crunch-inspired Art Purchasing - The concept of breaking down the full price of artwork into smaller installments presents a disruptive innovation opportunity to make art more accessible during challenging economic times.
Industry Implications
1. Art Sales - The art sales industry can explore disruptive innovation opportunities by integrating payment plan schemes to attract a larger customer base.
2. Online Retail - The online retail industry can benefit from disruptive innovation by incorporating payment plan options for high-value items like artwork, providing customers with more affordable purchasing options.
3. Financial Technology - The financial technology industry can explore disruptive innovation by developing specialized platforms and solutions for implementing art payment plans, catering to the unique requirements of the art market.