Exhibition World Issue 4 — 2020 | Page 18

Research Voice of the industry report s the Covid-19 shutdown continues to adversely affect the exhibition industry, GRS Research & Strategy’s new report, The Voice of the Exhibition Industry, examines the view of trade show professionals. The research was divided in four main sections: Current situation, Forecast, Scenario, Virtual events. The report asked those surveyed to comment on the current state of their business and events, what they perceive to be some of the most critical issues they face and what place digital events might hold in the industry going forward. When asked about the current state of affairs, 89% of respondents said that they have moved or cancelled at least one event due to the coronavirus pandemic. 10.1% Moved and/or cancelled events 10.6% 89% Moved and/ or cancelled events 25.3% 54.0% Moved and/or cancelled Moved Neither moved nor cancelled Cancelled When it came to some of the issues that might affect the industry as it starts to return to business, visitors’ willingness and ability to travel topped the list, followed by lack of revenue/cash flow and the issues that might arise from events struggling finding space on the calendar for the remainder of 2020 and into 2021. 26.9% 19,4% Visitors not willing or able to travel Lack of revenues / cash flow issues Overlapping calendar of other events Availability of venues to re-schedule Cyclicality and seasonality of the market Availability of some key exhibitors Non-recoverable expenses / increase in costs Other 14,9% 14,6% 8.2% 7.5% 5.2% 3.4% In terms of threats that the industry may face in the coming months, 41.6% of respondents cited exhibitors’ tradeshow budgets as an area of concern, as the regular cycle of annual and biennial shows has been disrupted. Travel restrictions for buyers and exhibitors were once again reported as a major threat to the industry. When it came to digital events, 65.2% of event organisers have already offered workshops and webinars (or plan to do it within the next six months). The report found that 43.6% plan to offer matchmaking solutions, which is considered to be the initiative that more than others will remain post-emergency, according to 87% of respondents who are investing in this direction. Webinars: 65.2% Virtual events: 45.4% Digital matchmaking: 43.6% 22.3% In terms of forecasting ahead, 73% of respondents said they would have at least one event in the last quarter of 2020 (37% even earlier, in Q3-2020). Upcoming scheduled events In Q3 2020 (July-September) – E-commerce 11.3% – No new initiatives 37.5% In Q4 2020 (October-December) In Q1 2021 (January-March) 57.4% In Q2 2021 (April-June) 48.6% 73.0% Looking to the recovery of the industry, most respondents predicted that it would take one edition of an event before it could return to pre-Covid-19 levels of attendance, but at least two before achieving pre-Covid-19 revenue. Attendance by national visitors and exhibitors should go back to what it was before within two editions, whereas the presence of international guests and revenues in general will take longer. 18 Issue 4 2020 www.exhibitionworld.co.uk