FRANKFURT —There are some challenges to overcome in 2023, but you’ll need help finding a more resilient sector than trade shows. There’s no doubt that a lot of trend reports have been flooding your inbox lately.
“Trends, to me, are one of the best reasons to attend trade shows. They provide insight into the industry you’re in, where it’s going and where it’s going,” said Michael Duck, president of UFI, the global association for the exhibition industry, and executive vice president of business development at Informa Markets.If you work in fashion, you look at hems, colors, textures, materials. If you work in jewelry, you look at size, color, clarity, rarity, and price. If you work in staples, you look at inventory, demand, weather, and pricing. I could go on and on. A good slogan for our industry is, “You can always feel the pulse of an industry at a trade show.”
Predicting this year’s trends is not as easy as in the past because many countries are still in rescue mode, Duck said. Many have not even restarted yet, including mainland China, Hong Kong and Macau SAR.
Global inflation needs to be addressed, Duck said. Energy, airfare and accommodation costs are rising. And there’s the talent issue. “Talent hasn’t left, it’s just been misplaced,” Duck said.
The trade show industry is one of the best ways to address these issues. “The best way to market is face to face. We need to rebuild our business by doing what we do best: getting buyers to a venue and giving them the best possible experience by meeting the best possible exhibitors,” Duck said. “The future trend for our industry is to move forward. Hopefully, we never have to go through what we’ve been through in the last few years. But we’re better prepared as an industry.”
A look at the top 5 trends to watch in 2023 according to UFI CEO Kai Hattendorf:
Keep an eye on the customer
According to UFI CEO Kai Hattendorf, in talking to members and industry leaders, it is imperative not to lose sight of what is most important: creating and exploiting markets.
“In the coming year, we’re going to relearn what we applied during the recession 15 years ago: focusing on customers, making sure they have a successful show and building the right relationships,” Hattendorf said.
The climate crisis will have an impact
“Extreme weather will lead to more cancellations or postponements of shows,” Hattendorf said. “We will also need to demonstrate concretely our own race-to-zero plans for our events. We need to compare the carbon impact of attending our events to the carbon footprint required to generate the same volume of business without two or three days of shows. We can do it. We have the tools. Part of our Net Zero Carbon Events initiative is to develop comprehensive carbon metrics for events.”
Related. Registration for the Net Zero Carbon Events Roadmap Launch is now open
More data, less hype
Data-driven trade show design will continue into 2023 and beyond. “What some still call hybrid events are really just a smart adoption of technology and data to make the face-to-face marketplaces we run more effective for buyers and sellers on and off the show floor. In 2023, the hype around hybrids or metaverses, fueled by marketing spend from Silicon Valley-based startups or conglomerates, will lose momentum. People will use what actually works for them. It will be less glamorous but more effective,” Hattendorf said.
Workforce development is essential
“We need new skills, new talent and new perspectives,” Hattendorf said. “We now understand that we need to do a better job of selling our industry to the people we want to work with. Our next generation of leaders are saying that we are the industry that builds and serves communities. We provide purpose and, as a result, we are one of the most attractive industries in the world. Let’s take this new recruiting narrative and take it to the global level. Let’s be at the forefront of people’s minds as they enter the workforce. Let’s work to attract the most talented and highly educated people who make our industry a melting pot of diverse talent.”
Navigating Change
If the pandemic has taught us anything, it’s adaptability and resilience. “We’re back to normal, our customers are back at our shows, and they’re generally happy. But we can’t just play our greatest hits. We have to push the envelope,” Hattendorf said. “We have to do more, and we can do more. We now have teams that are adept at adapting quickly. They’re making more data-driven decisions and are open to learning from each other. Expect this to lead to new ideas, new formats, new launches, new mergers, new acquisitions and other developments that will keep the eternal engine of our industry running.”
Contact Michael Duck at Michael.duck@informa.com and Kai Hattendorf atkh@ufi.org