If a politician once famously said, “All politics are local,” 2017 might be the year we start saying, “All tradeshows are local too.”
For more than a decade, smart U.S. tradeshow organizers were forming joint ventures with organizers in Europe, Asia and Latin America. They were investing in exhibitions companies all over the world and the largest trade events in Shanghai, Hannover and Rio de Janeiro had huge U.S. pavilions.
If the globalization of the tradeshow industry has not come to an abrupt halt, it is beginning to fade into the distant past as corporate exhibitors try to make up for declines in their international sales by reintroducing themselves to domestic buyers.
A few things have happened that just about everybody knows about:
- The World Trade Organization says global trade will grow at its slowest rate this year since 2007.
- Global Trade Alert counts 338 trade protection actions by governments around the world this year, up from 61 in the same period in 2009.
- China’s gross domestic product has waned, along with its need for commodities and equipment.
- Finally, regardless of who is the next U.S. president, it looks like there will be no Trans Pacific Partnership Agreement and, whether the American public understands the implications or not, fewer and fewer trade treaties with other countries.
In other words, global commerce is slowing down, at least for a while. Companies in every country – not just the U.S. – seem to be battening down the hatches for…what?
That’s not clear, but, if you are a tradeshow organizer who serves a market that’s global reach is shrinking, you’ve got to think fast.
Remember what I wrote a few paragraphs earlier: Corporate exhibitors must try to make up for declines in their international sales by reintroducing themselves to their domestic buyers.
Now is the time to remind those exhibitors of how many buyers you can draw within a single day’s drive of your event. Now it the time to reinforce for them via content marketing the value of the domestic industry your show serves. And now is the time to tell the once-regular attendees who haven’t been around for a few years that you want them back.
Michael Hart is a business consultant and writer who focuses on the events industry. He can be reached at firstname.lastname@example.org.No Fields Found.