For some of us already in business, it's hard to tell what's sellling and what's not. All we can do is our research in our creative area of expertise and make the best decisions based on your area of the world, and what kind of craft you are creating. So let's have a look at what the experts are predicting and how the future in Arts and Crafts are looking for the future.
What the Experts SAy.
For this information I researched global comsumer goods reports in the area of Arts and
Crafts. Don't stop reading this is just a small part of this article. In the global Arts and Crafts market size was USD (US dollars) 44,120 million in 2021. It is projected that by the year 2031 to touch USD (US dollars) 74,457.88 million. This means the projected CAGR to rise 5.4% during the projected 10 year period. CAGR is the compound annual growth sales. It is a way to measure how a business (Arts and Crafts) has grown over a specific period of time. It takes into account the effect of compounding, ( remember this from math class for your bank savings account) which means that the growth builds upon itself. Okay, I can feel your eyes glazing over but stick with me one more minute. I want you to realize this means it's a big market out there and room for all of us. Arts and Crafts refers to making things with one's own hands and skills. It takes into account various art supplies such as drawing pens, stains, paint, craft tools and other tools. It requires a degree of knowledge and technical skill, meaning and referring to making things with your own hands. It usually starts as a hobby that you are practicing. This is a form of creativeness that has been happening since prehistoric times. Crafts also means involving various techniques and means such as involving textiles, plants , canvas or paper, and wood, metal or clay. These growth demands for Arts and Crafts is due to increasing shifts towards an increasing public demand for handmade crafts.
Due to COVID there has been a growing trend in e-commernce and will effect the retail demand and expansion of growth globally of Arts and Crafts. Accessibility to art supplies and online and social platforms have increased the demand for Arts and Crafts products. There is one caveat to the market growth of Arts and Crafts, higher prices of art materials and supplies. Costly art supplies means raising your retail prices and this is a factor that can restrict growth. This is something to keep in mind as you start a new business or if you're already in business look at tweaking your revenue streams you have by removing revenue streams that are not cost effective or not selling at the usual norm for that prticular revenue stream and adding new ones that cost less to produce. Cutting costs can be done by using found objects such as drift wood which is free or thrift clothing to create resytled and repurposed clothing.
There are other market challenges to be aware of such as infringements of counterfeiting and copyright issues. Protecting original designs and artwork from infringement is an area you will want to be aware of. If this is something that that concerns you then do your legal research.
Seasonal demand, some crafts experience seasonal flucuations, so have a plan of other
revenue streams in your area of expertise that can carry you through the year.
Balancing traditional and contemporary is finding the right balance between preserving traditional craftsmanship and evolving the contemporary trends into your Arts and Crafts.
This doesn't have to be complicated it could be as easy as changing to more updated colors.
In conclusion based on my research of Business Research Insights which is based on their latest research for 2023 the global Arts and Crafts market is expected to reach a market size of USD (US dollar) 63,950 by 2028. I present this to you first so you know what is being reported about the Arts and Crafts market globally and is based on information that is gathered by these reporting agencies. If you are thinking about starting a small business or already have one, arts and crafts are in demand.
What Arts and Crafts are Trending 2024-2025
So here are some of the profitable Arts and Crafts that are trending.
digital Prints
jewelry
bath and beauty products
photography
sewing
candles
home decor items ( especially recycled and repurposed items)
There is always demand for products for weddings, beauty and health, baby and pregnancy, holidays, pets and home decor. Fiber arts/sewing is really trending in areas of vintage clothing and repurposing them into quilts, totes and painted denim jackets or jeans.
Abstract wall art is hot along with botanical prints and wildflowers. These styles of art along with vintage inspired art offering a fresh take on classic designs and reinterpreted motifs from the 60's and 70's. These will be trending into 2025. You can also look towards bold statement art featuring bold colors, striking geometric shapes and vivid color palettes expressing individuality and unique style of todays consumers. Folk art that expresses a global melting pot of cultures is being reflected in wall art and decor trends. Lastly coastal art continues to be in demand. As we look ahead over the rest of this year and into next. Landscapes will have more vibrant colors and personality.
So there are many products and inspiration you can add to your art or craft to build your business. Companies that produce the art supplies and products for the Arts and
Crafts market will continue to respond by manufacturing new products for our industry.
What does this all mean to You if your just starting a new business
Here's what you should consider to start a small business:
Decide if your hobby is just a hobby or can it be a small business. Remember that yes the Arts and Crafts market is going strong and will continue but also keep in mind as we look at the market at this moment people have less discetionary income so choose carefully how you start your business. Business does not always explode but is buildt steadily over time and by watching how the market is responding to your product and being able to pivot into other revenue streams in your area of creation or by adding more revenue streams. Revenue streams are just the different products
you sell in your business including teaching local or creating video classes you charge for.
If you decide to make your hobby into a small business you need to decide what your goals are. a) Do you want to be a small business that is just to your local area? b) Just an online small business with a website or a combination of both? c) Is your small business going to be a side hustle or a full time business? d) How big of a small business do you want to eventually be? You may want a business just for extra income every month. e) If you're going to be an online business research shipping now and know what supplies are needed and how you are going to ship along with costs of shipping.
If you don't have any business experience do your research and see what you are going to need as a foundation to run your business with good business practices such as behind the scenes inventory, and keeping track of expenses and income.
Do your research in the creative area you want your business to be in. Costs of supplies, time to produce your items, other related costs such as booth space rent and booth costs for art and craft fairs.
Take care of the business side of you're small business, this means bookkeeping and taxes. You can start out as simple as an expandable file. Keep all receipts for every thing you buy and invoice everything you sell. Also keep any kind of paperwork that pretains to your business. You will be greatfull at the end of the year that you did this and have everything in one place. For you that are already in business same thing, if your throwing your receipts into a box get yourself an expandable file or two, one for expenses and one for income.
If You're Already in Business.
If you're already in business and looking at current market trends, just knowing that the Arts and Crafts market is going to continue to grow. Here's what you should be researching since you already have a handle on your market and creative skills.
Review your revenue streams and see if they are still selling like they were six months to a year ago.
Have the costs in some of your revenue streams increased significantly and you have not adjusted your prices creating a loss of income for you? If you have several revenue streams like this it may be causing you more loss of income than you are realizing.
If you do have a revenue stream that is not doing as well as it was previously, it may be time to produce it in a smaller size or look at using lower cost supplies so that you can offer the revenue stream at a lower price. Remember not to sacrifice quality when changing supplies to create your art or craft.
Look at creating new revenue streams that you can offer at special prices.
If all of your revenue streams are at similar price range look at offer some revenue streams that you can diversify at higher and lower prices so that you have products that can fit everyone pocket book.
Make a revenue stream that is a little outside your box. For example if you do large wall art, do some smaller art or hand painted ornaments or painted gift tags for the holidays.
It may be time if your business has grown enough to hire that bookkeeper, I love mine ( I hate paperwork as much as any other creative).
If you have an online website, how much time are you spending on it and updating and making sure it is still revelant. If this is the only way you are selling this is critical. You want your customers to be able to find things easily and be able to contact you quickly. You may need to update your site and work with a website person that can help you in this area.
Build your email list and do email marketing at least once a month. Starting a newsletter that you email once a month to your email list is a great way to let your customers know what's happening in your busniness. If you are more ambitious start a once a month Blog. It's not as hard as you may think but it does require some of your time but is well worth it to keep yourself in front of customers.
If you're not being consistent on a social media platform you should be, start posting your work and touching base with your followers regularly.
Putting It All Together
The Arts and Crafts marketplace is going to continue to do well into the next decade. E-commerce has opened the doorway to new opportunity for artist to sell their art without struggling to get into galleries and the opportunity to have their artwork on other products as well by on-demand offers through platforms available to artist and crafters. More people are turning to making a part time or fulltime living by starting a small business of arts and crafts. It's an amazing time for anyone that's retired and wants a small business on the side. I know an older couple that make and paint birdhouses and bird feeders along with a few other items. They make their products all year long then sell them at craft faires and holiday faires. They pick and choose which they will attend so they never feel overwhelmed with a heavy schedule. Manufacturers of art/craft suppplies are producing more products and coming out with new items to help you to be able to make the best quality products.
Crafts that the human hand has created are more in demand than every before, not just out of neccessity but because people are purchasing products and items for themselves and their homes that are unique. Customers are more earth conscious and want repurposed and not only funtional items but aesthetically pleasing to the eye. They are looking at crafts that have a curated feel and give their home a cohesive feel of comfort and joy.
Now is a great time to start an Art or Craft business. If you work full time and just want to touch your toe to the water to see if the lifestyle of a side hustle fits you or if you're getting ready to retire and want to keep yourself busy with something you have a passion for now is the time to start. First do your research if your only starting out or is there an art or craft you have been practicing, you may need to know more about setting up a business in your area.
Trends for the rest of this year and into next are some of the following, but don't be afraid to explore and produce something that is uniquely you. It's really all about producing one of a kind products that catches on with customers.
Jewelry, digital prints, home decor, think candles, pottery and wall art. Sewing and fiber arts including felting, up-cycling and refashioning clothing into wearable art. Soaps and other bath and beauty products. Don't be afraid to niche down to a specific area of a craft you're interested in such as baby items, children's painted furniture or artwork for babies rooms. This could also be another revenue stream for some. There is so much to create and if you have the opportunity to carry products for fellow crafters or DIYers it's another source of income.
The last of our summary is to remind you to strengthen your business skills so you can build the foundation of your business through knowledge and not through hit and miss actions.
And lastly weigh the pros and cons of starting a new business. There are many positives to starting your own business . Setting your own hours, working from home but this also means spending a lot of time alone. Find ways of talking to like minded people through teaching classes, going to retreats and joining a social media group. There is a lot to think about, a lot to consider in starting a business or for that matter keeping a business going but the rewards can be a learning experience as to who you really are and becoming the kind of individual you aspire to be.
Freebie/Drawing Template
This month's Freebie is a Cost of Goods Expense Sheet. This will allow you to track the expenses for each piece of art or craft you make. If you get into the habit of doing one you can reflex back at the end of the year and see what revenue streams (items you made) sold well and which did not. This can be much more elaborate but it's a good starting point for someone starting a business or someone who really hasn't been keeping track. I have one especially customized for my artwork. You can customize your own to fit your cost sheet needs.
Tips/Books
I know many of you use Michaels and Hobby Lobby to purchase your art and crafting needs but here art some sites you should check out for ordering supplies. Most of them hold great sales and regularly.
One of my favorites is Jerry's Art Arama. I really like this online site. I can hold items in my basket till I reach the magic number of $59.00 for free shipping. I also have used the site along enough to know when their super sales are for example I know Golden Paints go on sale at 40% off around February/March and again in August/September. I buy may strecthed canvases in January when they run a big sale, but this site has weekly regular sales along with Friday/weekend specials. Their website is https://www.jerrysartarmara.com
Dick Blick is also another that carries all types of art and crafting supplies. They also run weekly sales and specials. https://www.dickblick.com
If you are looking for a more inexpensive source of acrylic paint (it's made in the US if this is improtant to you) is Nova Paints. They are not as heavy body as Golden or Liquitex heavy body paints, but the pigments are very good and so are the prices. I usually buy my paint mediums and gesso from them because of price point. https://www.novacolorpaint.com
What I'm Working On
I've been promising to show you my porch when it was done. If you didn't see it on Facebook here it is. I still have to finish sealing it but that won't take long then I can plant my pots. Yes it was a lot of work, and yes it took forever to finish due to weather either being too hot or to
cold. I learned quickly that if it too hot the paint dries to fast and if the cement is cold you have to pull out a heat gun to dry it. I'm thinking now I'll paint the base of my porch which is three steps up, but it will be a solid color. If I had thought about it I could of just painted the porch a solid color and used outdoor area rugs. Oh well maybe an idea for someone else.
My next project is a wall easel for my studio. I've done a lot of research on YouTube and Pinterest and I'm thinking of combining a couple of ideas that I have gotten from Pinterest and friends on Facebook that have buildt their own. I'll be starting this soon and will take step by step pictures if you're thinking about doing one yourself.
New On My Website
My newly updated website publilshes the beginning of June. Issac my web-designer and tech has worked hard to bring it altogether. I'll let you know when it's up and hope you will take a look.
I'm working on a few new ideas to offer on my website and hopefully locally that are affordable for everyone. I'm not ready to show them but next month's blog.
The year is passing much more quickly than I like. I had hoped to accomplish more than I have but must be at peace with what I have accomplished. If you are feeling this way too, don't criticize yourself, we can only do what we can. Live each day with joy for who knows how many tomorrows there may be.
Inspirational Quote
"What do you do for a living?" asked the sky to the sunflower. "I pour hope into the fainting hearts" whispered the sunflower.
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