Sidebar: September 11 is having a profound effect on how all business is conducted, particularly trade shows. For the next few weeks we will elaborate via these Mega Trends.
The first Mega Trend is what we call the Three C's: cancellation, consolidation and co location. Marginal events (both trade shows and conferences) will be cancelled or sold off and the organization's limited resources applied to the surviving properties.
Next, compatible events—either owned or acquired by the organization—will be consolidated in the same location/dates. No longer, for example, will an association run six small conferences and one annual convention; this will become one large regional conference in the spring and the annual convention in the fall.
Finally, events owned by different entities will co locate side-by-side to gain economies of scale. This can be purely voluntary or as a result of a strategic acquisition. Also, this can be a complete financial consolidation or standalone (for more on co location, see pages 149-153 in the book).
As a result of this Mega Trend, there will be a reduction in the number of standalone events in our industry. In our opinion, this will be good because it will strengthen the events that survive.
Tip: Review all your events with this Mega Trend in mind.