Huntington Beach, California, August 17, 2022
Trade shows are back on the road again!
COVID-19 pandemic has adversely affected the economic conditions of various industries and the tradeshows and exhibitions sector has been one of the worst hit segments. Events and tradeshows industry encompasses operators who engage primarily in the organization, promotion, and management of relevant exhibitions. With trade shows common in all sectors of the economy, a slight disruption in this industry results in a chain reaction affecting its clients who are highly diverse and can range from small-scale retailers to top info-tech companies.
Therefore, industries that didn’t have much of a digital presence came to a screeching halt during the peak of the pandemic. And we have numbers to support our claim. According to a Statista report:
Ø The B2B trade show market in the US was worth approximately $15.58 billion in 2019,
Ø The numbers then took a nosedive — it fell to an estimated $5.6bn — in 2020 because very few events were conducted during the year.
Ø The fallout is supposed to be the largest single-year contraction in the history of the trade show industry.
Ø 2021 saw a marginal increase in organized trade shows with the numbers climbing to an estimated $8.62bn.
However, the rapid expansion of pandemic has been controlled and restrictions are slowly being eased. Therefore, the trade show industry is also expected to recover in the ongoing year. Much to the delight of business enterprises, it is expected to grow further to $11.2bn. This is largely due to the positive trends in the broader economic climate that have resulted in increased spending on industry services, which, in turn, would enable businesses to increase their expenditure on conventions, exhibitions, and trade shows.
There is another important factor that will be crucial in bolstering demand for trade shows and conventions in the coming months. Resumption and resurgence in domestic and international travel, particularly by air, is expected to contribute to revenue expansion. With attendees often making trips to attend exhibitions, the trade show industry has become receptive to changes in travel patterns. However, with domestic trips by US residents increasing significantly, following an unprecedented decline during the pandemic, the industry can cash in on a great opportunity.
To gain a better picture of this trend, we decided to approach industry experts Extreme Canopy to throw some light. Extreme Canopy, which has been in the business for over two decades as a manufacturer and retailer of instant canopies, event tents, and custom tents, offered a very unique view of the trade show industry. This is because the company is not just a participant at these exhibitions, but they are also service providers and manufacturers of canopies that are being used by other businesses at such conventions.
Their clientele in the US includes some of the top companies across different industries and they have garnered rave reviews from each and every one of their clients. A spokesperson from Extreme Canopy provided more information on the importance of trade shows. “We, at Extreme Canopy, have a good amount of knowledge about how trade shows and exhibitions can help in boosting our business. They give us a platform to showcase our products as well as sell our goods and services to other exhibitors. We agree that COVID impacted the trade show industry in the US but we still see a lot of potential. The total worth of the trade show industry in the US is huge. Now that COVID is under control, we expect a positive growth trend for tradeshows industry in the US in the coming year.”
The spokesperson also informed that Extreme Canopy is planning to attend SEMA in Las Vegas this year as well as other international trade shows. “Back in 2019, we exhibited at SEMA in Las Vegas. Even though SEMA was an indoor event and we were limited to a small site where we could only properly advertise one canopy, which was our new Q8 range, it was a very successful event for us. However, we have not returned in the past couple of years due to travel restrictions. But we are planning to attend this show again this year.”
They also informed us that there are a few conditions if the Extreme Canopy team is to attend SEMA this year. With the company staying extremely busy during the time when SEMA is being conducted, they might find it tricky to allocate resources to those who can attend the event. Of course, they also need to see whether attending the show will be profitable this time around.
While these are valid concerns, we didn’t miss the opportunity to ask for more useful tips if one plans to attend a trade show. Extreme Marquees, graciously, provided more insights:
- If trade shows attract buyers from different geographic regions, it is a good proposition to participate in those exhibitions. For example, for the SEMA show, 78% of exhibitors are from the US while the remaining 22% come from more than 130 countries like Canada, Mexico, Australia, Japan, China, Brazil, United Kingdom, Germany, France, and South Korea.
- Keeping an eye on all events related to your industry is also very important.
- Good planning can help you draw industry buyers to your booth and give your brand exposure like no other.
- Chance to participate in different trade shows through which you can connect with peers, innovators, market leaders of other industries and do networking which can lead to sales in the future.
- To participate in the shows, you need to fix a budget that includes travel, accommodation, and staff.
- Detailed planning that includes getting your equipment and team in place before the event.
With this Extreme Canopy guide in your pocket, you can easily make an informed decision on the trade shows you want to attend. But the most important factor, as already mentioned above, that should influence your decision is whether attending exhibitions will help grow your business. For that, you need to weigh the pros and cons and take all factors into account before making a decision. However, we are sure of one thing: With the right planning, trade shows can work wonders for your business. This is because of the fact that you can use the platform to exhibit your products, make a sale, and generate leads. With more businesses expected to be on the floor at SEMA this year, it will also be a great networking opportunity. And if you come across the Extreme Marquees team, do say hello to these wonderful people who gave us so much information.
With SEMA still some time away, you can start preparing and planning now onwards in order to make the right kind of impact at this trade show!
About the Company
Extreme Canopy is part of the Extreme Group which has multiple brands across two continents They provide a wide range of premium quality products, including folding marquees, inflatable tents, gazebos, medical tents, event tents, umbrellas and other outdoor furnishings.
For more details, call 1300-850-832 or log on to https://www.extremecanopy.com/