network effect. They see this
as an extraordinary set of
circumstances. A disjunction…
however, we have taken the
risk of 2020 off the table.”
Carter believes the worstcase
scenario won’t happen and
has events scheduled, including
the first one of scale in Vietnam
in August.
Carter is clear also that the
product will not be the same on
the other side as it was before
Covid-19.
Future
The long term issue for Carter
is how to make a controlled
physical gathering and wrap it
to ensure that digital, data and
service delivery are also part of
the product.
The Informa CEO has some
advice for the industry and its
associations: “When industries
speak with five voices it’s
confusing, a single view and
voice makes an enormous
difference.”
His second piece of general
advice is backed up by his
experience of working in the
halls of power: “Governments
generally don’t like solutions
that are industry-specific,
they like economic benefits.
Politicians would be keener to
make decisions on economic
stimulation rather than ‘saving
tradeshows’,” he said, urging
the industry to shout about its
multiplier effect in a form that
speaks to the economic restart.
Carter said this was particularly
important at a time when the
government radar is moving
from ‘lives’ to ‘livelihoods’.
Carter was also supportive
of efforts to lift the exhibition
‘product’ out of the category of
random mass events and put
them in a different category.
Any return, he said, would
be phased and the exhibition
industry needs to be nearer
phase 1 and 2 than the back
end.
Through to the end of 2020,
Carter expects smaller events to
come into their own, but in 2022
he expects to see a different set
of economics.
Carter noted he faced
criticism for holding a
diversified portfolio, but feels
vindicated. “Diversification has
obvious benefits,” he said.
“Where we have digital,
training, subscription, product,
etc, our footprint is greater than
the markets where we simply
run the biggest tradeshow. I’d
rather have a deep relationship
for 300 days rather than one for
10 days!” he added.
In reply to Emslie’s question
of whether Carter saw a shift to
specialisation, he noted: “Most
markets are super technical. It is
very hard to turn up as a gifted
amateur in a sector to be credible.
The answer is in the data.”
www.exhibitionworld.co.uk