Exhibition News March-April 2021 | Page 36

Feature

Recovery by 2023 , research suggests

Martin Fullard skims through the findings of the latest research by Explori
SPONSORED BY EVENTSCASE SUPPORTED BY RESEARCH BY

Research conducted exclusively for EN and sponsored by EventsCase reveals the scale of the impact Covid-19 has on the exhibitions industry , with almost half of respondents ’ companies having had to make redundancies and average revenue expected to continue to decline throughout 2021 .

It is not all bad news , however . More positively , business is expected to recover by the end of 2023 , with annual revenue anticipated to be up 29 % in December 2023 compared to December 2020 , see Fig 1 .
The research , completed by 316 event business owners between 27 January and 8 February 2021 , also reveals that many exhibitors are looking to reduce their spend . According to the research , respondents hold widespread concerns regarding exhibitors , 76 % of event business owners believe exhibitors may reduce the number of shows they exhibit at , with 66 % believing some may stop altogether .
To counter this , organisers are demonstrating adaptability . For example , a high percentage of organisers are looking at running more frequent , smaller shows ,
moving away from the traditional annual big event . While it is not quite the roadshow model , it could indicate an enthusiasm for creating localised communities .
The research suggests a strong appetite for growth , with a third of respondent organisers saying that they plan to launch a new event in 2021 . This is backed up by the revelation that 40 % of organiser respondents are recruiting , primarily sales and marketing roles .
This again is backed up by the fact that respondents say they expect live events to return around summer 2021 ,
with respondents anticipating a full recovery , which is deemed a similar level of activity pre-Covid , about a year later , see Fig 2 .
The findings also suggest that organisers have one eye on potential future disruption . To increase resilience , 41 % of respondent organisers say they are planning to diversify their product offering , creating customer packages which combine events with online services and resources , such as content . This reflects a long-term shift towards the ‘ omnichannel ’ model that many anticipate will remain long after the pandemic .
Fig 1 . Business Outlook : 2020 vs . 2023
Average % change
Annual revenue
17 %
6 %
68 % 8 %
+ 29 %
Number of events you will have run this year
11 %
18 %
59 %
12 %
+ 22 %
% international exhibitors
13 %
15 %
51 %
21 %
+ 17 %
% international visitors
13 %
15 %
52 %
19 %
+ 16 %
Revenue from show content , including educational / conference elements
13 %
22 %
49 %
17 %
+ 15 %
Headcount
19 %
15 %
58 %
8 %
+ 14 %
Share of revenue that is not related to exhibitions
16 %
15 %
52 %
17 %
+ 13 %
Average show price per sq m
10 %
23 %
48 %
19 %
+ 5 %
2020 average : £ 24.8m 2023 expected average : £ 32.0m
Down No change Up N / A
36 — March