[co-authors: Geoff Serednesky, Reddhi Mitra, Jose Silva]
The rise of virtual events raises questions about the state of in-person trade shows. An FTI Consulting survey shows there’s an appetite for a new model.
For years, trade shows have played a prominent role in business, serving as the backbone for networking and product showcasing. That operating principle got shelved with the arrival of COVID-19, however. Without the freedom to stage in-person events, trade shows took a major financial hit in 2020, resulting in an economic loss of $14 billion to $22 billion according to an estimate by the Center for Exhibition Industry Research.