2017 is proving to be a tough year for trade shows in retail categories related to newsagency businesses. There have been several trade show closures this year. While the organisers have pitched various reasons, it is falling numbers through the doors that reduce supplier engagement and that is what, ultimately, leads to the close of trade shows.
From where I sit, as a retailer and as a supplier to retailers, trade shows are less efficient today for reaching retailers who can and want to engage.
Take the gift fairs. Whereas in the past the aisles would be packed with retailers spending big, this year, and last, the aisles are less crowded and then purchasing is more cautious.
Competition does this, it is to be expected.
Smart suppliers are not relying on the trade shows for a big boost in sales. Instead they themselves have an omni-channel approach to reaching their customers – online, social media and more. This is exactly what smart retailers are doing to reach their customers. It is not different to trade shows.
The best wholesalers / suppliers are those with stunning websites that make buying easy, enable you to al most touch their products and that reflect the lower cost of doing business via a website than doing business at a trade show or through one on one rep visits.
We have very few suppliers to retail newsagency businesses with stunning websites. Whereas there are more overseas suppliers with stunning websites and they are positioned to get more business as a result.
A stunning website from a supplier in my opinion is one that teaches me about products, makes what I do in retail with the products easier, supports my local store marketing and introduces me to new products that expand the reach of my business … a website that dopes all of this 24/7, without spending time being social and in a way that excites me.
I think there is a place for trade shows. However, that place is different to what it was in years gone by.
In the tech side of my business, the trade shows I am getting the most out of right now are those new to me, where I am likely to learn plenty to expand my horizons and interests.
It is important for suppliers and retailers to understand the changed role of trade shows, to have a common purpose where possible, so the expensive events work for both sides.
Mark do not forget this year gift fairs took a more selective attitude to who should be allowed to attend these fairs. Genuine retailers were there I found it easier to get assistance from wholesalers and did spend on new gift ideas for my shop. In the past I found the show cluttered with “tire kickers”who should not have been there in the first case , some of which were customers in my area and had nothing to do with retail for many years.
I have not forgotten Colin. My post is about whole fairs that have closed, completely.
Which fairs are closed and are they relevant.
Two gift fairs and a Jeweller fair so far. Relevance is the determination of the beholder.