Millennials as an online consumer base is a well - worn cliché that brings to mind an entire generation of cell phone junkies and social media stars . Hedging their bets on the move from brick and mortar to digital, different boutique operations have sprung up online, hoping to entice a new generation of collectors and better serve their preexisting base. A target demographic for almost every major brand and start - up , millennials and their buying habits are increasingly of interest to the art market . With their bets on the move from brick and mortar to digital , different boutique operations have sprung up online , hoping to entice a new generation of collectors and better serve their preexisting base . Various models include virtual galleries like Daata Editions and discovery platforms like Artsy and Invaluable , and a new study commissioned by the latter suggests their bets might just pay off . Key findings from the survey , which included 4,534 participants , suggest that 44.3 percent of young millennials ( ages 18 - 24 ) and 33.8 percent of older millennials ( ages 25 - 34 ) find new art through social media channels like Instagram and Pinterest . This is in comparison to 29.5 percent of Baby Boomers ages 65 and up . What ’s more is they found that over half of millennials ( 59 percent ) would be willing to purchase art online versus only 19 percent of Baby Boomers ages 65 and up . For companies like Invaluable , which aggregates content from auction houses and galleries around the world , these findings offer confidence in the battle to win the hearts , minds , and , most importantly , wallets , of the millennial generation . A study by TEFAF seems to support Invaluable ’s survey results . TEFAF reported the online art market experienced a 7 percent increase in 2015 . As the salaries of maturing millennials increase over time , one can only assume that this number will continue to grow year over year . While not popular out of the gate , luxury ecommerce sites like Net - a - Porter and 1stDibs have rapidly expanded their market ’s footprint and have seemingly paved the way for contemporary art to do the same . As brands like Net - A - Porter and 1stDibs begin to tackle their increasingly mobile audiences , online art retailers will also need to focus on apps for handheld devices . Invaluable reports that 45 percent of its users are mobile . They are the high - value customers because they apparently spend on average 43 percent longer on the site — browsing through Invaluable ’s permanent and flash sale offerings . Tech - based companies like ArtBinder and Artsy are already working on beautifying and streamlining their apps to best serve their users . These adjustments will be vital to beating out their competition , especially as publishing , archiving , accounting , and curation also become more and more digital . As the numbers strongly suggest , an explosion in the online marketplace is imminent — just as soon millennials earn a little more spending money .
Millennials as an online consumer base is a well - worn cliché that brings to mind an entire generation of cell phone junkies and social media stars . A target demographic for almost every major brand and start - up , millennials and their buying habits are increasingly of interest to the art market . With their bets on the move from brick and mortar to digital , different boutique operations have sprung up online , hoping to entice a new generation of collectors and better serve their preexisting base . Various models include virtual galleries like Daata Editions and discovery platforms like Artsy and Invaluable , and a new study commissioned by the latter suggests their bets might just pay off . Key findings from the survey , which included 4,534 participants , suggest that 44.3 percent of young millennials ( ages 18 - 24 ) and 33.8 percent of older millennials ( ages 25 - 34 ) find new art through social media channels like Instagram and Pinterest . This is in comparison to 29.5 percent of Baby Boomers ages 65 and up . What ’s more is they found that over half of millennials ( 59 percent ) would be willing to purchase art online versus only 19 percent of Baby Boomers ages 65 and up . For companies like Invaluable , which aggregates content from auction houses and galleries around the world , these findings offer confidence in the battle to win the hearts , minds , and , most importantly , wallets , of the millennial generation . A study by TEFAF seems to support Invaluable ’s survey results . TEFAF reported the online art market experienced a 7 percent increase in 2015 . As the salaries of maturing millennials increase over time , one can only assume that this number will continue to grow year over year . While not popular out of the gate , luxury ecommerce sites like Net - a - Porter and 1stDibs have rapidly expanded their market ’s footprint and have seemingly paved the way for contemporary art to do the same . As brands like Net - A - Porter and 1stDibs begin to tackle their increasingly mobile audiences , online art retailers will also need to focus on apps for handheld devices . Invaluable reports that 45 percent of its users are mobile . They are the high - value customers because they apparently spend on average 43 percent longer on the site — browsing through Invaluable ’s permanent and flash sale offerings . Tech - based companies like ArtBinder and Artsy are already working on beautifying and streamlining their apps to best serve their users . These adjustments will be vital to beating out their competition , especially as publishing , archiving , accounting , and curation also become more and more digital . As the numbers strongly suggest , an explosion in the online marketplace is imminent — just as soon millennials earn a little more spending money .