Design Industry FAQs & Insights

Scenario: A woodworker from California, USA with 5 years experience has been creatively unmotivated due to repeatedly producing the same pieces. In the past year, the studio has not released a single new piece because they have not had time. They want to understand if producing larger collections of limited edition pieces will have any negative impact on their revenue, or if outsourcing production of established pieces is the better choice.

Questions:

1. What is the average earnings for woodworkers with similar experience who have limited edition collections vs those who only do open editions?
2. What is the average earnings for woodworkers with similar experience who outsource part of their manufacturing?

Scenario: A multidisciplinary designer from Berlin, Germany has a been given an offer to customize a large interior project. However, if accepting this project, they will not have enough time in the studio to fulfil orders for individual pieces in a timely manner. How badly will an increase in lead time affect sales of their Lamps and Tables, and is this decrease in sales worth the revenue from accepting the larger interior project?

Questions:

1. How do longer lead times in those categories impact sales?
2. What is the maximum lead time imposed in order to avoid losing sales revenue while also accepting this project?

Scenario: An emerging conceptual designer based in London, England is releasing their first collection and, since their pieces are so unique, figuring a price point has been a challenge. They are wondering how to best choose a price point that would simultaneously allow for their pieces to enter the public, be profitable to sustain a living as a designer, all while keeping a respectable valued price that does not diminish the brand equity from the beginning.

Questions:

1. What is the average price point for emerging conceptual design pieces from England and other western regions?
2. What is the average time it takes for new conceptual collections to sell?
3. How does price affect the time it takes to sell?

Scenario: An emerging glassworks designer from Paris, France who has recently exhibited their new collection in Milan has been approached by a gallery who wishes to host their work in exchange for 2 years exclusivity for all sales throughout the United States.

Questions:

1. What is the average time it takes to make sales from a new collection after exhibiting for the first time?
2. How often are exclusivity agreements beneficial and produce a positive return?
3. What is the average sales that have resulted when signing exclusivity?
4. How big of a market is the United States for purchasing glassworks from Europe?
5. Does gallery representation justify an increase in brand value and ultimately pricing of pieces?