Market Trends of India Event And Exhibition Industry
Growing Adoption of Geo-cloning for Exhibition Organizers is Expected to Drive the Market
- Geo-cloning for exhibition organizers involves replicating successful events in different geographic locations. This strategy is gaining traction in India as it allows organizers to capitalize on proven event formats, adapting them to various regions, thus maximizing success and audience engagement. The growing adoption of geo-cloning in the Indian market reflects a strategic approach to event planning and management, leveraging successful models for broader impact.
- Geo-cloning has also become a go-to strategy for various major exhibition organizers looking to expand globally. It involves less of the risk of a brand-new launch and an existing brand reputation to use as a launchpad. Statement of intent geo-cloning has proven to be a valuable tactic.
- With the growing construction, industrial manufacturing, textiles and apparel, and consumer durables market in India, various international events and exhibitions are keen on entering the country to offer their products and services, and such exhibitions are the means of networking and expansion opportunities to tie up with local vendors and distributors.
- In addition, technological advancements in various industries are offering a prime opportunity for international vendors, as such events offer significant opportunities to attend and gain knowledge and adopt advanced solutions as part of their operations.
- The government support for Indian event organizers involved in geo-cloning and large international conventions in the country is positively impacting growth. This involves guaranteed footfall from customers due to the brand reputation and involvement of international solutions and service providers.
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Consumer Goods and Retail Segment is Expected to Hold a Major Market Share
- Horizontal marketplaces are consumer exhibits. They usually feature various products from industries that are on show for the general public. Consumer exhibitions are an excellent method to bring together like-minded merchants and customers in one place for an extended time. Many visitors like to remain and visit as many vendors as possible.
- Therefore, they are generally considered day-long events. Consumer exhibitions provide businesses with a once-in-a-lifetime opportunity to directly contact buyers who already fall into their target demographics. This sales strategy frequently yields a greater conversion rate than traditional sales methods. India as a country realizes the value and reach of such exhibitions and events and, therefore, has prominent fairs, events, and exhibitions held annually.
- The market for retail and consumer goods is undergoing dynamic change. Challenges for retail and consumer product (R&C) companies are many in today's business environment, as a confluence of market forces have created an extremely challenging climate.
- Indian retail has become one of the most dynamic and fast-moving industries with the entry of several new players. This accounts for more than 10% of the country's GDP. India's sizable middle class and largely untapped retail market have been major motivators for international retail giants looking to enter newer markets, accelerating the growth of Indian retail and creating new growth opportunities for India's event and exhibition market.
- According to IBEF, online shoppers in India are expected to reach 500 million by 2030. The event and exhibition market in India is experiencing exponential growth, with retail development in small towns, big cities, and metropolises. Healthy economic growth, changing demographics, increasing disposable income, urbanization and changing consumer tastes and preferences are some of the factors driving the growth of India's organized retail market.
- IFJAS, Indian Fashion Jewellery & Accessories Show 2023, will be held on June 26-28, 2023, at India Expo Centre, Greater Noida, India. The show is an internationally acknowledged annual sourcing platform showcasing traditional and contemporary fashion jewelry and accessories-to-apparel from different manufacturing hubs and regions of India. IFJAS stands true to its reputation as an exemplary international exhibition with a focus on product lines that many buyers would find only in India.
