A new Tradeshow Week study reveals that trade shows are highly valued by their attendees, and that they will go to more when the economy rebounds.
Even with the economic downturn, attendees want to go to trade shows. They feel not attending may hurt their professional and company performance. Trade shows are especially valued for playing a critical role in the buying process. 49% of attendees say they make a purchase after visiting a trade show exhibitor within 3 months.
Not only do attendees still value shows, 59% said they want to increase their trade show travel when the economy rebounds.
Also significant, 96% of Owners / Presidents /CEOs of companies are going to their industry’s top show this year. Those are attendees with buying power.
Exhibitors, pay close attention. Here’s why attendees value trade shows, even during a recession:
- The ability to keep up-to-date with changing industry trends
- See new products, equipment, technology and services
- See or participate in product demonstrations
- See products first reviewed online
- Maintain and build relationships, network
- Meet exhibitors’ senior management and staff
- Make purchases
- Acquire new ideas
- Education and training
- Save money, with the efficiency of seeing many suppliers in one place
- Compare competing products and company teams
- Access competitive intelligence
- Maintain a presence – “see and be seen”
Michael Hughes, Tradeshow Week Vice President of Research, pointed out several years ago that it was higher attendance at shows in 2003 that then led to increased exhibitor numbers and booth space rental coming out of the last recession. His latest report predicts that history is likely to repeat itself: When the economy improves, more attendees will go to shows, and then more exhibitors will return.
Michael Hughes has graciously allowed us to share his full presentation, including analysis, charts, quotes, and summaries, and even how different level executives value trade shows (guess what — top level execs value trade shows even more).
You can see the presentation at full screen size by clicking on the upper right hand button on the viewer window.