Is inflation slowing down the trade fair autumn?

Are we currently in the midst of a stormy autumn storm? We are noticing it in all areas of life: everything is getting more expensive. To be more precise: between January 2022 and September 2022, the consumer price index reached a value of 7.9%, which is the highest value in the past 30 years.

Similar to the corona pandemic, companies will tend to act more cost-efficiently in the face of inflation and adjust their business conditions in relation to inflation. How can trade fair appearances be realised cost-effectively without sacrificing this type of live communication?

Summary

• Definition: Inflation
• What is currently happening in the trade fair industry?
• Solution 1: Simplify trade fair planning with an ERM system
• Solution 2: Carry out event analysis & optimise trade fair appearances
• Conclusion

Definition: Inflation

We all hear it on the news and can probably recognise the term inflation correctly. Nevertheless, here is a brief explanation of the term:

You're probably familiar with it: you go shopping at the supermarket and realise that prices have risen enormously. Looking back, you remember the prices of previous years and wonder why everything has become so much more expensive. This increase in the price of goods and services is defined as inflation.

Inflation occurs when goods and services become more expensive in the long term. A permanent increase in the price level reduces the purchasing power of money. When prices rise, companies invest less. In order to cover their costs, they will have to adjust the selling prices of products and services. As a result, consumers receive less value for their spending. As a result, persistent inflation reduces the value of money.

A basic distinction is made between different criteria for inflation: recognisable price increases include overt, covert and pent-up inflation. On the one hand, the causes of inflation can be supply inflation, i.e. the price level is driven up by the costs of companies. On the other hand, there is demand inflation, which is caused by excessive demand for goods and services.

What is currently happening in the trade fair industry?

Germany is the world's largest trade fair centre. Many important global industry gatherings take place here. If prices rise in the future, trade fair organisers could be restricted in the design of trade fair events!

Since the coronavirus pandemic, the trade fair industry has been considerably restricted, but demand has picked up again in recent months. This is due to the current coronavirus restrictions. However, the future rise in the consumer price index will also have an impact on the trade fair industry. The demand for trade fair offers will decline again due to the high or rising inflation rate, as for some companies a trade fair appearance will be too cost-intensive.

Exhibitors who are already regularly present at various trade fairs will face further challenges in the future: A customised exhibition stand will be beyond their budget. This is why solutions are needed that enable customised trade fair appearances despite price increases.

Solution 1: Simplify trade fair planning with event resource management systems

Are you also planning to organise a trade fair in the near future and are worried about how you are going to cover the costs without losing impact at your stand?

Cost-effective implementation with the help of event resource management software can help. You can control all your live communication measures in your own portal and access rental material without losing the individuality of your trade fair stand.

ExpoCloud gives you access to all services:

• Stock management: How high are the stocks of my advertising materials? Which systems can I use at the trade fair? You receive the figures in real time in your portal.
• Logistics and assembly service: At the end of the ordering process, simply book the cheapest delivery service and have your stand assembled and dismantled on site by our professionals.
• Exhibition catering: Do you need coffee & co. at your exhibition stand? No problem, trade fair catering can also be easily booked. You have access to our stock.
• Printing and graphics service: Not only can you store your customised graphics with us, you can also upload new print files and have them printed at any time.
• Advertising material service: Outdated flyers need to be disposed of and the brochures for the latest campaign need to be re-stocked? Don't worry, we'll take care of it. You can view the inventory in your portal.

ExpoCloud - the Event Resource Management - provides service and support for a secure and professional exchange for the benefit of our customers. Working with us, you can plan, implement and evaluate all areas of event marketing (stand construction, event management, advertising material handling, print products) within a short space of time. To develop projects according to a standardised trade fair concept, we focus on process, data and cost orientation. The company's goal is to make event marketing tasks as simple, cost-efficient and effective as possible for our customers. With ExpoCloud, you can ensure that your exhibition stand is the eye-catcher of the event.

Advantages of an event resource management system

Here is an overview of the main advantages of such a software solution:

• Time saving: You can track and initiate all processes online in the system at any time. This means that you do not need to hire an external agency for your trade fair planning, but can do it in-house.
• Cost savings: All services are provided by a service provider. You also have access to rental equipment and do not have to invest in the latest technology, which may have to be replaced in a few years.
• Everything at a glance: Dashboards and customised reports as well as up-to-date inventories provide an all-round view of all projects. In addition, you can optimise your trade fair appearances and advertising material handling to save costs.

Solution 2: Carry out an event analysis & optimise trade fair appearances

In addition to trade fair planning, costs can also be saved by analysing live communication measures.

If you would like to analyse the flow of visitors to your trade fair presentation, Event-Metrics is the ideal solution for you! The Event-Metrics Sensor records visitor behaviour in compliance with data protection regulations. The optimisation of your trade fair concept is determined on the basis of the measurement and evaluates the success of your live marketing measures. But what does Event-Metrics have to do with inflation? The Event-Metrics Sensor makes it possible to plan and optimise trade fair appearances in detail in order to carry out the subsequent trade fair appearance in a targeted manner. In our trade fair studies, we present the evaluation of various trade fair appearances using the Event Metrics sensors.

To the exhibition stand analyses

Conclusion

Ultimately, there are many ways to secure a personalised and professional trade fair presence despite the upcoming price increase. With ExpoCloud, our WWM team enables you to realise uncomplicated and targeted event marketing measures. Our project managers are always at your side as contact persons and accompany the process from planning to analysis. Right now, customer acquisition and maintenance is more important than ever!