AMR Releases New Report on the U.S. Exhibitions Industry
July 22, 2019
AMR International, a global strategy consultancy specializing in events, has released a new white paper entitled, “The U.S. Exhibitions Industry: Developments and Opportunities for Organizers.”
The five-page report explores the industry’s performance, as well as the evolving needs of attendees and exhibitors.
Among the notable topics discussed in the white paper:
- The U.S. exhibitions market remains attractive, with forecast growth continuing at 3.5 percent CAGR through 2022*
- A 3-percent decline in attendee numbers across the sector in 2017* signals a timely warning to the market that events must serve the ever-evolving needs of attendees and deliver return on time (RoT)
- Embracing change is now the norm; organizers can no longer “copy and paste” last year’s event and bank a profit
*Source: AMR’s Globex 2018 report
Most importantly, the report details AMR’s Exhibitions 2.0 model, which presents an opportunity for all organizers to achieve sustainable growth. According to AMR, organizers who have implemented Exhibition 2.0 initiatives have seen a bottom-line improvement of 10-15 percentage points.
The white paper compares historic and current/emerging attributes of U.S. trade shows in general, and shows the progression toward Exhibitions 2.0 values. For example, while historic and current/emerging tactics may include a sole focus on SQM (systems of quality management) as well as some sponsorship/ticketing, Exhibitions 2.0 trade shows are focusing on multiple, value-based revenue sources.
Other examples include focusing on an attendee-led organization, rather than a sales-driven model; and continuous innovation, rather than adaptation to trends.
The report emphasizes that no organizer — even associations or non-profits — is too small to embrace at least some elements of Exhibitions 2.0 and deliver enhanced results for their meeting participants. While this model is still a work in progress in the U.S., according to AMR, organizations such as The Toy Association and Association of Equipment Manufacturers are beginning to take new approaches and seeing results.
Learn more and download the full white paper here.
Partner Voices
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.
Add new comment