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This post on Crafthaus is a condensed version of ASK Harriete.
The primary purpose is to examine the craft marketplace using the tenants of economics, the principles of supply and demand.
The interaction of supply and demand is the most fundamental concept of economics and it is the backbone of a market economy. It is described as the state where shifts in supply or demand cause changes in price up or down, that bring supply and demand back into balance.
The fist post on ASK Harriete lays a foundation for
The Economic Stakes of the White Tent - Over Supply.
The number of events showcasing arts and crafts has exploded in the last 20 years to include craft fairs, art festivals, street fairs, fundraising auctions, trunk shows, academic programs selling student work, and museum's that now host membership events. For example:
This doesn't even include the extensive number of Open Studios sponsored by local communities, or online marketplaces which have no barrier to entry. Now anyone who can make anything can try to sell online.
ARE YOU OVERWHELMED WITH THE NUMBER OF EVENTS? I am. So is the consumer. "Handmade" has flooded the market.
The 2nd post The Economic Stakes of the White Tent - Reduced Demand examines the demand side of the economic equation in the craft marketplace.
Demand in the marketplace is more difficult to define, but my perception is that demand for craft is lethargic at best.
A disheartening picture demand has not kept up with supply.
Sluggish demand can be attributed to four factors that I've noticed:
These four factors may be interrelated, but I describe each group on ASK Harriete.
As I tried to evaluate the craft economy...
the fundamental principles of economics, supply and demand came into focus.
It isn't a judgement or critique.
It's the law, it's the law of economics.
Prices will competitively spiral down whenever supply exceeds demand.
This is the topic for the next post on ASK Harriete. Stay tuned.
This post will examine the demand side of the economic equation in the craft marketplace. Demand in the marketplace is more difficult to define, but my perception is that demand for craft is lethargic at best. A disheartening picture. Demand has not kept up with supply.
Sluggish demand can be attributed to four factors that I've noticed:
These may be interrelated, but I will try to examine each.
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