Trade fairs have over the years featured as a staple of business networking, marketing, and sales. Companies use in-person events to showcase their products and establish industry connections, getting that much needed face-to-face interaction with potential clients. Times are, however changing. In light of digital transformation, new consumer habits, and the impact brought about by global events like the pandemic, the trade show landscape is slowly changing. The question that businesses ask themselves is, what does the future of trade fairs look like?
To understand this shifting landscape, it is not only important to look at trends, data and insights from the experts. According to a recent survey by Discount Displays (https://www.discountdisplays.co.uk/our-blog/the-future-of-trade-shows-trade-show-stats-from-professionals/) only 7.6% of industry professionals surveyed think trade shows are decreasing in importance, while 58.1% think they will continue to be primarily in-person.
So let’s take a closer look at some of the factors that might be shaping the future of trade shows and why Discount Displays new report is essential reading for any business hoping to stay ahead.
Current State of Trade Shows
While trade shows continue to be one of the most integral parts of businesses, the model has been evolving. In 2019, the global trade show industry hit a value of more than $32.9 billion (https://www.statista.com/statistics/1261257/global-meetings-industry-market-size/), directly showing the level of value such events provide. Then came the COVID-19 pandemic, which caused major upsets that made businesses take a second look at the role of physical expos. A door finally opened to new formats: hybrid and virtual trade shows.
But what does this mean for the future? And how can businesses be ready for what’s to come?
Virtual and Hybrid Trade Shows: A New Norm?
Many companies went to virtual trade shows during the pandemic as a last resort. But digital events indeed allow businesses to reach wider audiences across the globe without needing to incur travelling logistics and limitations that physical event venues usually impose. While virtual trade shows have their advantages, they also showed several limitations.
As it heats up again, the future seems to belong to hybrid trade fairs, specialists’ betting on a combination of some in-person elements with digital ones. The hybrid event combines flexibility and reach for more extensive participation, but without sacrificing that essential personal touch associated with live exhibitions. Take a look at Discount Displays for an in-depth survey of business’s current adaptation today, data and how hybrid trade shows will shape the face of the industry.
Key Trends Shaping the Future of Trade Shows
Some key trends that might shape the future of trade shows are as follows:
1. Digital Integration: Experience for the attendees will be way better with advancements in interaction technologies, such as AR and VR. Starting from virtual product demos to AI-driven networking, trade shows will have more engagement and personalisation.
- Sustainability Efforts: With environmental concerns making industries go green, trade shows are not to be left behind. More eco-friendly booth designs, reusable materials, and a shift from printed materials to digital-only are what can be expected.
- Data-Driven Personalisation: The future of trade fairs is not just about big displays but also about big data. Increasingly, analytics will be used to personalize attendee experiences, from tailored product recommendations to customized exhibitor interactions.
- Emphasis on Networking: While virtual platforms enable one to connect with scores of people, no virtual platform can replace that element of impromptu and spontaneity or authenticity that comes with face-to-face networking. And for that reason, no physical trade show is going to be off the door anytime soon.
