What the West Can Learn from China’s Digital Transformation

Published: 3rd May 2019

No. Pages: 21

Report Type: Industry Report

Report content

WHERE ARE THE ART MARKET CENTERS IN CHINA?

 

HOW IS THE CHINA MARKET DIFFERENT FROM THE WESTERN ART MARKET

The Inversion of “Primary” and “Secondary” Markets

China’s Digital Transformation

Millennials As Emerging Contributors Of The Asian Market

 

THE MAIN DIGITAL PLAYERS IN CHINA’S ART MARKET

Digital Marketplaces

Tencent 腾讯

WeChat bid 微拍

Weixinhost 侯斯特

Alibaba 阿里巴巴

Auctioneers

Auction Houses

Independent auctioneers

The Development of China’s Art E-commerce Marketplace

China Art E-commerce on Web 1.0 and 2.0

Ecommerce platforms with an art channel

Art Mcommerce

Web 3.0 applications on the rise

How Collectors in China Use Digital Technology

 

CONSIDERATIONS FOR BREAKING INTO THE CHINESE ART MARKET

Galleries

Collectors

 

EMERGING TECHNOLOGIES IN CHINA’S ART MARKET

Blockchain

Artificial Intelligence (AI)

Virtual Reality and Augmented Reality

 

CONCLUSION: THE DIGITAL TRANSFORMATION WAVE FROM THE EAST

Description

The report What the West Can Learn from China’s Digital Transformation of the Art Market looks at a possible digital path America and Europe may take as it expands its own art markets. The analysis also looks at how digital technology has helped China’s art market leapfrog the West’s from practically non-existent 20 years ago to the game-changer it is becoming today. The report focuses on the digitization of transactions of galleries and collectors in Mainland China and Hong Kong. It surveys the domestic digital players large and small that have contributed to the rapid development of the country’s art market.

From the regional disparities that have driven the country’s growth through the entrepreneurial opportunities in the art market that the nation’s billion-dollar digital giants have taken advantage of, the report investigates the digital applications that started China’s “art culture revolution” and the smaller companies now capitalizing on the latest breakthroughs in technology to bring art to the rich and to the masses.

What the West Can Learn from China’s Digital Transformation of the Art Market also provides perspectives for Western galleries and collectors interested in entering the China art market, and possible ideas for Western tech entrepreneurs looking for the next “big idea”. The survey shares insights gained from American and European first-movers in China’s dynamic business environment, as well as consultants, researchers, and advisors that have done business in the country.

While the West may have created the internet and developed the smartphone, it is China that is expanding online auction markets, e-commerce, artificial intelligence (AI), Blockchain, and Augmented Reality (AR) applications in ways Western entrepreneurs have not considered yet. But who may one day come to copy.

 

Supported by:

DSL collection

 

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