Wednesday, February 23, 2011
Future of Trade Fairs
In the past few years, trade fairs have transformed the face of industries and changed the way business had been done. Many companies have gained exposure through trade fairs which has resulted in their progress over the years. Due to its beneficial effects, these fairs are seen as torchbearer of all the industries in the world. It won’t be an exaggeration if we say that these trade events have become indispensable to the entire trading fraternity.
Clearly, we can see that trade fairs will be a major industry tool to garner maximum exposure to the new products and brands in the future. But we are still wondering, how different the perception and impact of a trade fair will be in a few years from now. Well, if we analyze the industry trends and pay heed to a few statistics, we will see that the future is definitely bright. But as we know every good thing has its bad aspects, trade fairs will have their pros and cons, which are discussed below-
Future Trade Fair (Pros)
In the future, trade fairs will become highly competitive because of higher participation of individual companies. As a trade fair provides equal opportunity to each exhibitor displaying at the event, it will be an ideal platform for smaller players in the industry. Also, the trade venues are evolving rapidly and high class technologies are available easily at many venues. This will further improve over the years which will lead to large scale live demonstrations and conferences. The companies will realize that they can easily channel the consumer response in their favor by impressing them at such mega events. Due to this trade fairs will become a major part of their campaigns and thought process. Moreover, consumers will realize the immense potential of trade fairs and their participation will improve over the years. In the future trade fairs, high end technology will be showcased to the visitors and the fairs will become the ultimate guide of new trends to the general public.
Future Trade Fair (Cons)
Trade fairs are definitely a boon to the industries and frequent fairs dedicated to the same sector of industries will take place in the future. This will result in huge competition not only amongst the participants but also the organizers. In this situation, organizers and exhibitors may use aggressive and unfair business tactics which might not be beneficial to the entire industry. With the advent of high end technologies in the future, the companies may try using robots and interactive computer technology to showcase their product. This can lead to the loss of human touch, which is otherwise vital to the development of a brand.
All these factors discussed above will most likely effect the performance of trade fairs in the future. Whether the overall impact will be positive or negative, it is highly debatable and inconclusive as of now. But there is no denying the fact that the trade fairs will be a marketing force which will definitely play a part in the next few years.