ifo Institute: German Industry Less Keen to Exhibit at Trade Fairs in the Future
After Covid-19, trade fair companies will have to prepare for business to be more difficult. Fully 39 percent of the German industrial companies that have exhibited at trade fairs in the past intend to reduce their participation in such events. This is a finding from the ifo Business Survey for August. Only 2 percent intend to participate in more trade fairs in the future, while 59 percent are not looking to change the degree of their commitment. “Trade fairs will remain important for companies, but they will have to change,” says ifo trade fair expert Horst Penzkofer.
Larger companies in particular want to cut down on their appearances. In companies with more than 1,000 employees, the figure is 47 percent, while for those with 500–1,000 employees, it is as high as 49 percent. “The survey did not ask to what extent they will scale this back,” Penzkofer says.
Digital formats have apparently become more popular as a result of the coronavirus crisis; they now represent an alternative to traditional trade fairs, and 65 percent of exhibitors want to make more use of them in the future. Here, too, bigger companies are ahead of the curve: this group includes 72 percent of companies with more than 1,000 employees and 74 percent of those with 500–1,000 employees. “Trade fair companies are already in the process of incorporating digital instruments into their shows or are holding digital and hybrid events,” Penzkofer adds.
Of the exhibiting industrial companies participating in the survey, 48 percent stated that being absent from trade fairs had not led to any loss of business. Business losses did result “to a small extent” for 46 percent and “to a large extent” for 6 percent of companies.
