Are Trade Shows Still A Worthwhile Investment?
Not so long ago, in a magical pre-Covid world, every trade show brought immediate sales, profit and future opportunity.
Covid put a stop to that and when the shows re-opened, exhibitor numbers and visitor numbers were down.
Kirk & Kirk saw significant growth during the Covid period. Our visually arresting product encouraged people off their sofas and out to the optician. Sales grew by 40% year on year and we had no trade show costs.......that was a good year financially!
Then FOMO kicked in.
Slowly the trade shows started to re-open and what happens if you are not there? Will clients still seek you out or will they buy other products that have started to exhibit again?
The post Covid years have been challenging. Exhibitions have not reviewed their pricing policies and still charge pre-Covid prices.......or more.
As a reaction to that, some very credible regional shows have sprung up offering an alternative way to reach an audience.
BUT we should also consider buyer behaviour.........
Attendances are only now starting to approach pre-Covid levels. Being at the show is one thing but buying product is another. Increasingly stores are attending shows and asking exhibitors to visit them at their shop, so that they can see the product with their whole team, in situ.
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I get it. It makes sense but it puts increasing pressure on smalll companies who spend a fortune on stands at trade shows and often have a wider range of product at the event, rather than a smaller case of samples in store.
Most of my experience is at optical trade shows SILMO Paris or MIDO for example but, many years ago we used to show at #LondonFashionWeek and we showed earlier this year at Pitti Immagine . The market has changed - not only do store owners not place orders at #PittiUomo, they will not even give you their contact details.....
#SilmoParis in September was the first time we have seen a trade show approaching anything like pre-Covid results. Sales were great but the aisles still looked 'airy' and we need to see some change in behaviour before we can feel confident in a stronger commercial environment.
So why is our industry so fragmented?
If stores don't buy at trade shows brands will struggle. If brands struggle, trade shows will struggle. If there is no obvious route to market then there will simply be less choice and fewer creative, independent brands to help your store differentiate itself from your competitors.
As a result of a good #SilmoParis, you will see us at #Mido #LofteyewearShow (NYC) 100% Optical and maybe some smaller, local US shows.
#independenteyewear we are #strongertogether!
If our articles pique your interest, I like nothing more than to talk business....optics, fashion or just general business challenges. You can reach me on [email protected]
Su true ! Well written
The "Ryan" part at SPEX By Ryan Inc.
1 个月I have been pondering the same question Jason! I LOVED attending the tradeshows pre-pandemic. After that, I found that the need to attend was not as I once thought, as my reps all do a pretty good job of keeping me up to date with inventory. They are all very consistent with consistency in their designs so I have enjoyed that same consistency in my stores without feeling the need to keep adding more collections and diluting what I’m already successful with. Costs and hassles of travelling have skyrocketed as well. It’s just so stressful. I will certainly get back to tradeshows at some point, but for my established businesses, it’s more of a treat and a vacation to visit old friends, than a true business trip. Come back to Saskatchewan any time!
Certified Optician | Luxury Eyewear Rep | Bringing Exclusive Eyewear to Your Boutique
1 个月Absolutely fantastic article, Jason. This conversation has been long overdue. The challenges of trade shows and the pressing question of whether to attend or not are on all our minds. I’m excited to share that @carolineabram + @tallaeyewear will be in New York for Terrance Lackran’s luxury event and Vision Expo East. The outcomes of these shows will surely provide valuable insights into our path forward.
Publisher/Executive Editor at The Optical Journal
1 个月Great to see you in Paris!
Dispensing Optician & Sales Executive
1 个月Good post Jason ????