The International Association of Exhibitions and Events® (IAEE) introduced its Future Pathways Report as a five year roadmap and springboard for many of the sessions at their annual Expo!Expo! conference – held virtually December 8-10, 2020.
In one of the best attended sessions of the IAEE conference, “How Does Your Virtual Event Measure Up To The Latest Industry Trends,” Nancy Drauper, Center for Exhibition Industry Research (CEIR), vice president of research, shared the latest findings from the budding field.
I attended this and several other sessions with a media pass.
John Horchner, Editor
MeetingSource.com
Drauper said that it looks like virtual events for trade shows are a detour for now and will merely become ancillary revenue later, never replacing the physical show.
Gross revenues from members’ virtual events have doubled in the last six months according to survey data. It still averages only 31% of physical events, up from just 13% six months ago. Attendance is still smaller than physical events, a surprising statistic Drauper said. Profitability is possible but 40% of virtual event exhibition organizers have yet to charge for attending an event and roughly 15% continue to lose money.
Conferences may be a different story where education rather than buying is often the primary motivation for attending.
