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17

The economic pressures have forced respondents to take a number of actions to offset the

expense increases, including:

Change product offerings – 66%

Reduce Stock on hand – 66%

Change Product Offerings – 33%

Reduce Marketing Budget – 33%

Layoff employees – 33%

Marketing the Business

Nearly 20% of reporting businesses invest 1%, or less of their annual sales into marketing

and advertising with over 40% reporting marketing expenses at less than 5% of annual

sales.

The three most important tools that retailers consider the most effective in gaining new

customers are:

Word of mouth

Events and Shows

On-line marketing is an important part of marketing the American Indian Art business.

The three leading tools used in the business include:

Website

Online advertising

Email marketing

On-line tools typically are handled in-house, although many businesses will go outside

for help on some things.

Most Productive Sales Channels

Wholesalers report that the storefront is their most productive sales channel, followed by

shows and their website.

Sales From American Indian Art

60% of the responding wholesalers report that in excess of 90% of their volume comes

from sales of American Indian art.