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78% of eventprofs rate tradeshows as irreplaceable – RX

This week saw the release of a new study by RX highlighting the crucial importance eventprofs place on live shows.

The Customer Mindset Tracker revealed 78% of businesses believe tradeshows offer them something unique that cannot be created elsewhere.

Meanwhile, Emerald acquired a major wholesale marketplace as it looks to improve its ecommerce and in-person offerings for its NY NOW exhibition.

Other stories this week include a US journalist joining a partnership to boost UFI’s North American presence, record revenue numbers of IFEMA Madrid as well as top consumer concerns highlighted by McKinsey & Co.

Three quarters of eventprofs place high value in live – RX study

More than three quarters of eventprofs believe live shows offer them something which can’t be replicated elsewhere, according to a new study.

The RX Customer Mindset Tracker aims to understand customers’ current business challenges and priorities. It is an evolution of the Covid-19 Barometer research the company released in 2020 and 2021. 

Face-to-face remains a key priority for survey respondents, with 78% of businesses stating that trade shows offer them something unique that cannot be created elsewhere. This is up from 68% in 2021.

Gaby Appleton, chief digital product officer, said: “The research confirms that there is a strong desire among exhibitors and visitors to grow their businesses and expand to new products and markets.

“RX is well-positioned to help them do this, not only through our global portfolio of face-to-face events, but also through our digital lead generation, networking, meeting and brand promotion tools.”

The Customer Mindset Tracker highlights five challenges for exhibitors and attendees post-pandemic including reduced sales, meeting new customers and keeping on top of market trends.

Emerald acquisition to boost NY NOW

Emerald has acquired a major wholesale marketplace as it looks to improve its offerings at its NY NOW exhibition.

The takeover of Bulletin – which connects more than 3,000 brands with over 26,000 retailers in the industry – aims to help buyers discover more innovations through in-person and e-commerce.

All employees will join Emerald as part of the acquisition, including co-founders Alana Branston and Ali Kriegsman.

Karalynn Sprouse, EVP at Emerald, said: “NY NOW is experiencing a period of transformation and revival. The combination of Bulletin and NY NOW not only provides us with a dynamic platform that delivers year-round discovery and engagement.

“But Alana, Ali and the Bulletin team’s thought leadership, forward-looking perspectives and extensive network of makers, designers, influencers, and media will serve as new pathways of expression and creativity.

“In addition, this union reconfirms our unwavering commitment to NY NOW, especially as our 100th anniversary of being the preeminent resource for the gift and home industry grows near.”

The move aims to create a year-round platform for brands and retailers to connect and transact with each other. 

It will mix the NY NOW Gift and Home Show with Bulletin’s “entrepreneurial spirit”, industry expertise and extensive customer base of brands and retailers.

Emerald hopes the union of these two platforms will provide small businesses access to a solution that allows them to fuel innovation and design and provide buyers with year-round inspiration and discovery.

Madrid venue sees record turnover post-pandemic

IFEMA Madrid has reported record turnover numbers after it spearheaded the nation’s return to live events.

The venue made a strong comeback in the six months since the health crisis reached its pinnacle, having accelerated its operations to pre-pandemic levels.

It has achieved a record turnover in the first half of 2022 with the institution’s income already topping 115 million euros – 30% more than foreseen in the budget.

José Vicente de los Mozos, chairman of the executive committee, said: “The first six months of the year were pivotal for IFEMA Madrid.

“We validated our basic lines of work, which will take shape in the coming months in a strategic plan whose main pillars we have already achieved, restoring our business with enormous strength and planning a year that we will conclude with an 80% increase in turnover that will reach 178 million in turnover.”

IFEMA spearheaded the reactivation of the tradefair and congress sector by hosting FITUR in January. It was followed by 145 fairs, congresses, corporate and leisure events in the first six months of the year.

UFI aims at expansion with US journalist

A new partnership has been announced with an award-winning journalist which aims to promote UFI’s presence in North America.

Danica Tormohlen, who has covered the trade show industry for more than two decades, will work alongside MAD Event Management (MAD) to drive content creation for the association.

The move follows the announcement of a strategic partnership that UFI and MAD announced in June which aims to expand the exhibition association’s presence across the continent.

Kai Hattendorf, CEO of UFI, said:: “Welcome Danica. We have been working together on projects in the past, both directly and indirectly with our colleagues at SISO and we are thrilled to write the next chapter of this collaboration now.

“With her depth and breadth of industry experience and connections, Danica will help us drive content for UFI and the industry ecosystem in North America as we gear up for UFI’s Global Congress that is coming to the US for the first time in 2023.” 

The 90th UFI Global Congress will take place in November 2023 at the ARIA Resort & Casino Las Vegas.

During the course of her career, Tormohlen has won numerous awards for outstanding editorial and design, including the Folio: Eddie Award for Editorial Excellence and several Azbee Awards for Editorial Excellence in business-to-business journalism.

European consumers concerned by price hikes – McKinsey

Rising prices and the invasion of Ukraine are the top concerns for consumers across Europe, according to a new study.

Figures from McKinsey & Co’s latest Consumer Pulse Survey show 53% nor rank the cost of living as their biggest worry, with 15% citing Putin’s war.

It also reveals the pandemic, which has dominated public life for the past two years, now ranks only fifth on the list of major worries.

The study found rising prices are particularly worrying for low-income consumers and millennials, while high-income consumers and baby boomers are most likely to identify the invasion of Ukraine as their primary concern.

UK consumers display the greatest focus on inflation, with more than two-thirds naming this as their biggest worry  -up from 60 percent in April.

The proportion of those claiming price rises as their greatest concern has risen by seven to 10 percentage points since April in every country.

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