A comprehensive survey by Explori and UFI, analyzing 15,000 responses from exhibitors and visitors, reveals encouraging trends:
- Renewed Interest: Exhibitor interest in trade shows is nearly back to pre-pandemic levels. On a scale of 1 to 5, the desire to exhibit scored 2.77 in 2021, close to the 2.83 in 2019.
- Visitor Enthusiasm: Visitor interest has rebounded even more strongly, with a score of 3.07 in 2021, almost matching the 2018 level of 3.10.
- Budget Outlook: While 42% of exhibitors report reduced budgets for 2021, the cuts are less severe than predicted. On average, exhibitors expect budgets to recover within 11 months.
- Cost-Cutting Measures: To manage reduced budgets, exhibitors plan to participate in fewer events (73%), reduce booth size (33%), and cut travel expenses (58%).
- Digital Divide: Surprisingly, only 64% of exhibitors have tried digital events. Most prefer purely onsite events, with hybrid as a second choice and virtual least favored.
- New Opportunities: Interestingly, virtual events have attracted a new audience. About 70% of digital exhibitors who were new to trade shows now express interest in trying live events.
The Future of Exhibitions:
Sophie Holt, Managing Director of Explori, suggests that hybrid models will persist but evolve. "It will be about how we can add value by adding a digital layer to a live event," she explains. The industry may see a mix of digital and live events, not necessarily simultaneous.
In conclusion, while exhibitions are poised to recover within the next year, the landscape is changing. Virtual elements are likely to remain, creating new opportunities and audiences. For this transition to succeed, exhibitor training in virtual engagement will be crucial.
