We all know that adapting is necessary, especially this year. Our industry has had to react and create new business models due to the market changes brought on by COVID-19. But, it鈥檚 essential that brands work to protect the core needs of their retailers.
Envoy B2B surveyed 6,500 specialty retailers regarding their opinion of the importance of physical trade shows and what their recent experience has been with digital or virtual stand-in events.
Here are some key takeaways from that research.
Entirely Digital Shows Did Not Leave Retailers Satisfied
The experience that retailers had at entirely digital shows left something to be desired. They missed the ability to see and feel the product in person, and felt that too few of the brands participated.
鈥淣othing is like a real show. Virtual does not let you see and touch and feel.鈥
Retailers Want Physical Contact with Your Products During the Buying Process
Retailers find it harder to make buying decisions without being able to physically interact with the product. It鈥檚 difficult to get a feel for an item without being able to touch it and see it in person.
鈥淚 love to touch what a product feels like and how it hangs on a body and what the actual color is.鈥
Retailers Want Continued Participation by Brands at Trade Shows
Brands are currently driven to go virtual due to the COVID-19 pandemic, but it鈥檚 still critical that they show up. And, as we eventually shift back to a more in-person model again, retailers are going to want to see their brands face-to-face on the show floor.
Specialty Retailers Are All in on Physical Trade Shows
We aren鈥檛 there yet, but most retailers have stated that they look forward to the return of physical trade shows, and plan on attending to the same degree they did before the pandemic.
So, while we鈥檝e all had to adapt our strategies and come up with new best practices as we navigate a largely virtual world, it鈥檚 going to be key to not lose sight of what your retailers want in the future. Digital sell-in events are the solution to today鈥檚 challenges, but they shouldn鈥檛 be seen as a forever replacement to the core needs of your retailers.
Your brand can come out of this tumultuous time with an opportunity to integrate new technologies into the sell-in process as we return to more in-person events. But, listen to your retailers and realize that these virtual experiences shouldn鈥檛 be seen as a replacement for the kinds of relationships that can be built by attending in-person trade shows. And in the meantime, find ways to get your physical product in front of your buyers during sell-in. It鈥檒l make your brand stand out even more.