Thesis: Online art market is a growing Industry. Social media has helped tremendously. For example Instagram and Facebook are the two highly used social media for art industry. Even though internet has made globalization easier, it has yet to show the art of Buddhism to the most part of the world. Very few have experienced the beauty of Buddhist art. Therefore, Adi Buddha Handicraft will distribute the Buddhist art that are made by the artists of Nepal to the targeted audience. We will create an online and physical art gallery so that targeted market could view the art of Buddhism.
Problem: People, in general, are uneducated about the art of Buddhism. Very few have seen a beautiful Buddhist art. Buddhist art lacks popularity compared to other arts in this industry.
Solution: Globalization, social media and internet have made networking very easy. Through education, information and technology we hope to distribute Buddhist art around the world. Our concept is to change people’s thought when they see the Buddhist art. We want them to see it from an artistic point of view not from a religious stand point.
High level information: Online art market is near $3 billion industry. Yes, it is true when compared to other industry it is small. But, if we look at the trend we can see that it is growing rapidly. According to Hiscox Online Art Trade Report 2015, this industry was $1.57 billion in 2013, $2.64 billion in 2014, and expected to grow to $6.3 billion by 2019. Hence we can see that online art industry is growing. What Adi Buddha Handicraft will do is, to build an art gallery: Online and physical. Even though online art gallery is growing, the trend for physical store are still popular. According to the survey conducted by Hiscox, 54% said they prefer to buy art in store than online. However, this trend is decreasing.
People have yet to see Buddhist art as a part of interior decoration like home/office décor. Buddhist art can create a wonderful environment and set the stage for conversation. This company hopes to change the concept of Buddhist art and, we hope to do this by education and information. If people understand and starts to relate to a product, the value of that goods increases. This is true for almost everything. Hence, we want to educate our audience and try explaining how much time, effort, craftsmanship, and artistic work an artist put on these sculptures to make them visually pleasing. We, as a company, will host webinars, seminars, auctions within communities to get people involve.
Goal: It is our hope that we will discover new market opportunities within our targeted location. We hope to understand market trend and analysis even deeper so that minimal error are made when our company starts to operate. In order for this to work, we will need to build a competent team, financing strategy, understand market opportunities and understand human behavior which will allow us to build an art gallery to show The Art of Buddhism.
Similar Companies: Christie’s, Sotheby’s