The Value of a Trade Show in 2016
By Rachel Shapiro
In 2016 with technology like FaceTime and Skype, mobile apps and online forums, are trade shows still relevant? The answer is yes, because despite the convenience of modern technology and communication, there still isn’t an app that is a better replacement to a face-to-face interaction.
Trade shows have historically been lucrative events for licensors, buyers and manufacturers because they provide a forum for these industry reps to meet with product developers and distributors from a range of companies from all over the U.S. and abroad. After spending 2-3 days on the show floor, business professionals can potentially walk away with hundreds of new industry contacts, dozens of business deals and a handful of business meetings crossed off their to-do lists. The most obvious value of attending a trade show is that it is a unique B2B event that brings industry professionals together under one roof, conveniently providing a forum for face-to-face interactions and encourages cross-industry networking.
Another major reason why consumer shows remain in demand is that everyone at the show – both attending and exhibiting – is there for the same reason: to do business. This includes finding new products, setting up meetings, establishing new contacts, maintaining current business relationships, and more. Trade shows differentiate themselves from other industry events because they not only allow for business meetings and networking, but they provide a platform to actually showcase products too. With a more hands-on, sensory approach, trade shows simply offer more than other events. Attendees can talk to countless other professionals, watch live demonstrations and physically handle products on the show floor.
Oftentimes, brands will debut new, never-before-seen products at trade shows. Companies benefit from attending such shows by staying abreast of emerging technologies and product trends. Additionally, a large percentage of attendees are high-level decision makers or have buying power, meaning business deals can be made right on the show floor, giving them a leg up over their competition.
Trade shows offer unique business opportunities that other business channels cannot and because of that, they are here to stay. Consumer trade shows bring buyers, executives and product developers under one roof for several days of networking and contract signing. For some businesses, trade shows are most lucrative of all the events on their yearly schedule.
INPEX, The Invention & New Product Exposition is America’s largest invention trade show. This annual event features over 1,500 new products and inventions available to license, market, manufacture and more. Celebrating its 31st year, INPEX 2016 will be held June 7-9, 2016 at the Monroeville Convention Center, just outside of Pittsburgh, PA.