Do Trade Shows Still Work in the Retailing Industry?
Is the real-world trade show format still viable in this age of advanced communication? Judging from last week's NRF convention, my vote is "yes." While a lot of shows have fallen by the wayside, it seems to me that there is still an important role for keynote speeches, workshops, product demonstrations, and face-to-face meetings. Sure, this can all be done by virtual tradeshows, but traveling to a physical event for a few days better focuses the attendees on the subjects at hand than a virtual event can.
Here are some key elements that made the NRF show work for me:
- High quality educational component;
- Held in a venue they could sell out;
- Technology exhibitors were able to demo their wares to many prospects in one place;
- Many retailer meetings held and private rooms were available;
- Strong organization and communication from the association.
Of course, having cool new technology at your show keeps things fresh, and NRF had some of that:
Intel showcased a POS kiosk proof-of-concept that is sleek, reduces energy consumption by 70 percent, and allows presumably high-end retailers to do suggestive selling to shoppers as they check out, via online-like technology.
Mobile marketing continues to be the rage, and AzureMayan demonstrated technology enabling retailers to send offers to the cell phones of shoppers in Bluetooth areas. Each offer stays on screen for only 10 seconds and then disappears if the shopper doesn't act on it. In theory, the company claims this is not spam because it's not an email or a text so it doesn't need opt-in. (In other words, it hasn't been regulated yet.)
There was also a lot of buzz around the new Microsoft Tag mobile tagging system, allowing consumers to interact with printed content such as magazines, billboards, etc.
I haven't heard an attendance figure for the NRF show yet and wouldn't be surprised if there was a significant drop from last year. But, in my mind, the point is that there was energy at the show, and attendees could learn a lot, and interact with many others in their industry in a short period of time.
Discussion questions: Do you think virtual shows will replace physical trade shows in the retailing industry? What are the most important elements to a successful retail trade show?