Retail Parallel: Embracing Technology and Its Impact on Trade Shows

September 21, 2014

Marty McGreevy

Marty McGreevy serves as DDR Corp.’s senior vice president and chief marketing officer. Previously, he was president of Cyclonix, an integrated marketing company that specializes in 3D articulation of corporate messaging.

What doesn’t kill you makes you stronger. This is especially true when it comes to technology and the evolving landscape of omnichannel retail for brick-and-mortar retailers.

Once feared as an existential threat to brick-and-mortar retail, the Internet now provides retailers with tools to evolve, redefine themselves, improve engagement with customers and build their brands.

What shoppers really want is experience and relationships – with people and brands. Technology is simply another tool retailers can employ to augment and deepen these relationships and experiences.

My belief stems from what I witnessed during my 20-year tenure in the exhibition industry. Trade show floors and retail stores are parallel experiences. I consider the trade show and event floor to be a form of a pop-up retail store. Both require advertising and promotion to attract attendees. Both require skilled personnel who engage customers face-to-face to assist, inform and sell products and services. Both are physically immersive and both are most effective when they are housed within larger, umbrella structures with other similar environments—either a convention center or an open-air shopping center.

In recent years, both industries’ perceptions have evolved. They have learned that technology isn’t the enemy—it’s an ally, an integrated tool that can be leveraged to strengthen their positions.

I firmly believe that for those of us savvy enough to embrace the new tools in front of us, the future is rosy. In 2009, the exhibition industry was in the tank. Net square footage of floor space was in decline and attendance was in free-fall. Even CES (Consumer Electronics Show), the event we all look at to see what the next cool tech gadget is going to be, experienced a 22% decrease in attendance.

Media from The New York Times to The Washington Post reported that attendance was down and the industry in decline.  There was widespread fear inside the industry that face-to-face was going to be replaced by virtual exhibitions. Why would anyone go through the trouble and expense to attend a trade show in person when they could “attend” the show via their computer? Was this shift a permanent change that would impact the exhibitions industry forever? A multi-billion dollar industry held its breath and waited to see how quickly its ship was going to sink.

When the economy improved, the opposite occurred: That floundering boat righted itself and resumed a growth course. In fact, a report issued May 29 of this year by the Center for Exhibition Industry Research (the organization that tracks the overall health of the exhibition industry) announced the industry’s 15th-consecutive quarter of growth. That’s right, 15 consecutive quarters of growth.

What is even more interesting is the status of the virtual trade show, which has not emerged as a stand-alone entity. As of yet, no strictly online trade show has gained enough traction to threaten a live exhibition.

This isn’t to say that the online expo hasn’t thrived. It has, more so as a supplement to the traditional exhibition (think: the exhibition version of omnichannel). Prior to arrival at a trade show, attendees use the Internet to plan their visits. They register online and gather information via the show website and online floor plan. They use email and social media to connect with the suppliers they plan to visit.

The at-show navigational and informational apps used by trade shows that merge the convenience of online with the tactility of in-person engagement parallel the emerging in-store apps retailers such as Walmart are testing. For example, Walmart shoppers can use the retailer's app to search products, read reviews, scan products in-store, make shopping lists, browse local coupons, track orders, share products via email, locate items within Walmart stores by aisle and check in-store merchandise stock.

From my perspective, retailers are on a great course, transitioning yesterday’s perceived threats into today’s strengths. The future is omnichannel. Like the trade show industry, retailers need to continue to integrate and embrace technology that makes their customers’ shopping experience easy and memorable.

Let’s continue down the strong road we’re on. With omnichannel, retailers are creating 24/7 relationships that give customers what they want, when they want it and how they want it. But even more importantly, retailers are delivering a great in-store experience as the anchor to it all.

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MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.    Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.    Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.   The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.    MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.     MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.