World grappled in the turmoil caused due to Novel Coronavirus isn’t just getting affected physically or mentally but also economically that shows its parallel results to the worldwide economy. Hence, it wouldn’t be any wrong to say that an entire world is facing a severe impact of this menace.
Domestic and international exhibition shows and conferences have been swiftly canceled or rescheduled with a question of their return this year! Number of shows getting postponed has now been pushed until the 3rdand 4th quarter of 2020. In fact, some of the exhibitions are even pushed until the beginning of 2021. This rapid cancellation of the show has also drastically impacted the business of exhibition stand design companies, indicating an immediate downfall of the economy and exhibition industry, altogether.
Facts & figures of Covid-19 Impact Based On A Recent Survey
The recently released survey report depicted an overall impact of Covid-19 on exhibition industry. Questions in the survey were asked to corporate exhibit managers and suppliers of the exhibition industry to figure out the current and future business. Let’s have a look to the outcome of the survey:
- Mere 13 percent of exhibit managers said they will participate in rescheduled events of late 2020.
- 46 percent of exhibition stand contractors had to lay off their labor staff and 43 percent of exhibition stand companies had to lay off their employees.
- Just 20 percent of exhibitor’s budgets have remained the same.
- 59 percent of exhibitors anticipate returning to show floors.
- Exhibit managers showed a toss of interest in exhibiting in the shows being re-scheduled late in 2020.
- Virtual events coming to the forefront? Well, 59 percent of exhibit managers said “Virtual events can be the solution however, not as valuable as live events.”
Takeaways From Covid-19
- Adapt Modern Communication Techniques: Considering the current health crisis, the need for the time is to get back in the market with few updated communication techniques. While clients being restricted on the show floor, you also take the precautions and adopt the modern way to communicate with the clients. Be the virtual host and get in touch with your clients over a video call. In the wake of this virtual trend, several exhibitors are resorting to their exhibition stand while reinforcing the promotion of upcoming virtual participation.
- Respond As Per Situation: We have to be aware of the rapidly changing situation and respond accordingly. Means, taking precautious/additional measures in order to halt the spread of the virus, and later on, act per the situation. Since the exhibition industry is re-opening with the flow of time, organizers must step into market with all the best precautionary measures including hand-sanitizing stations installation in the respective expo exhibition stands.
- Must Stand With The Industry: Bigger challenges need to be answered with firm determination. Therefore, we as the part of exhibition industry need to stand together and fight back the situation. All we need to do is, share the best of our years of a knowledge bank to how to tackle the situation and ensure to get through with it at the minimal cost of a negative effect on the business.
- Continuous Touch With The Audience: Central repository of any business is to stay in touch with customers/ clients/ audience. So, don’t lose hope and stay in touch with them via keeping them engage on social media. Make sure that you keep contributing your bit of information/ updates regarding exhibitions.
That’s true; Post COVID, the scenario would never be the same like before for the next 1-2 years. However, we may always remain committed towards bringing new ideologies for event marketing services, and event marketing solutions.
