Trade Shows and Scooters

I’m back from the first combined Outdoor Retailer/Snow Show trade show in Denver.  The most impactful thing I brought back from the show was the flu.  You guys who had dinner with me Thursday night- let me know if you got it.

You know, last year I came home from Denver with what turned out to be pneumonia.  Two years before that I was hospitalized in Denver with a staph infection in my knee.  I don’t know- maybe I’d like to see us back in Vegas.  I never got sick there.

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Agenda Was Kind of Slow Last Week

In the past, I’ve been more than willing to criticize trade shows, suggest changes, and express our mutual uncertainty as to what the role of trade shows should be and how they should perform that role.  Even recognizing that the winter Long Beach Agenda typically has lower attendance than summer, I was surprised at the low attendance and the brands that did not attend.  I also heard from more than the usual number of brands that attended only because they got free booth space.

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As the Trade Show Proposition Changes, Would You Want to Own More of Them? Emerald Expositions’ Quarterly Results

As you probably know, Emerald Expositions (EE) is the owner and manager of Surf Expo, Outdoor Retailer, and now what was formerly SIA’s Snow Show.  Overall, they operate over 50 shows as well as other events.  They’ve grown by acquisition, and expect to continue to do so.  Their shows are in many industries and include the International Drone Conference and Exposition (kind of cool!), the National Pavement Expo (who knew there was one?), American Craft Retailers’ Expo, and the Digital Dealer Conference and Expo (no idea what they do there).  These, along with the Snow Show, are among their most recent acquisitions.

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One More Comment on Trade Shows, A Perspective On the “Outdoor” Industry, and Articles on Retail.

Trade Shows

Trade shows were created to bring buyers and sellers, that is brands and retailers, together to do business.  Everything else that goes on at trade shows, beneficial as it may be, has been secondary to that goal.

But there are fewer smaller retailers and fewer retailers overall.  The consensus is that the number will continue to drop (see the articles referenced at the end of this).  Larger retailers have less reason to attend, as their most important suppliers reach them outside of the trade show venue.  Meanwhile, changes in logistics, technology and the supply chain have introduced some chaos into the formerly more or less reliable buy sell cycle around which we scheduled shows.

To me, this means there’s less value in attending traditional shows.  The return on investment is harder to justify for buyers and sellers.  Meanwhile, brands and retailers are generally competitors at a greater or lesser level.  Are they perhaps a bit more cautious in how they work together and share?

What’s the result?  Neither buyers or sellers need to send as many people to trade show for as long.  Smaller booths, shorter shows, fewer attendees.  Consolidation of shows.  I haven’t had any retailer or brand tell me that putting OR together with SIA is a bad idea.  If you are one who thinks it is, I’d love to hear why.  Ultimately, I expect fewer shows though, as is always the case in consolidation, everybody will struggle to survive hoping it’s the other guy who goes away.

There will be more focus on consumers.  It’s the best way to cover overhead.  There will be some smaller, focused, curated shows.  Interestingly, it feels like there will be room for big shows and for small shows.  As usual, the ones caught in the middle will have the most trouble.  I wonder if there might somehow be some local, “popup” shows.

The fundamental reason trade shows were created has declined in importance.  A lot.  That’s the thought I want you to have top of mind as you consider the show landscape.  Given the change, how has what you get out of the shows changed?

The Outdoor Industry

Boardsport Source is a good magazine.  It’s generally thoughtful, and helps me know what’s going on in Europe.  I was looking at “The Great Outdoors SS18 Retail Buyer’s Guide” in the July issue.  I can’t find the picture on line, but in the Camping Gear section of the magazine, there was a picture of a campfire.  Nothing unusual about the fire.  But it was on some kind of curved metal grate or holder just for the fire.  Stuck into the ground next to it was a black metal pole with a couple of adjustable rods coming off it.

One of those rods held a large metal pot with a lid that was cooking something over the fire.  The other, higher up on the pole and not over the fire, held a tray with what appeared to be a coffee pot and mug as well as a plate with food on it.

So, I used to do some serious back packing.  A week to two weeks out in the back country over mountain passes carrying everything we needed on our backs.  Sometimes we caught some fish.  My “friends” let me clean them so I would be the one the bear was attracted to.

When you do that kind of camping, you are always concerned with the weight of your pack.  First, you are concerned that it is too heavy.  Later in the hike, as the food goes away and if the fish aren’t biting, you worry it’s too light.

I want you to know that none the equipment I described around the fire ever made it into any back-country camper’s pack.  Not for a minute did we consider trying, as the article says, to “bring your kitchen outdoors.”  Comfort was measured ounce by ounce, as you strove obsessively to minimize the weight of what you had to carry.  Or to put it in somebody else’s pack.

I’m not against drive up camping and having your comforts.  Certainly, rigorous backpacking isn’t for everybody.  But the picture and description of the gear made me think about the “outdoor” target market.  For the reasons I’ve described this kind of equipment specifically excludes serious backcountry campers.  Unless they have it flown in by helicopter I suppose.

The elite athletes in skateboarding, snowboarding and surfing always used more or less the same equipment the typical participant used, though of course they did things with it that most of us were never going to try.

Suddenly, in this particular case at least, that doesn’t seem to be the case.  I don’t quite know what to make of it.  Is the “outdoor” market defined as anybody who’s not “indoors?”  Is there a “core” to be connected to?  Does that matter?  Do the customers, whoever they are, care about the product or do they just take product for granted and focus on an associated experience?

What does it mean to be a brand in the “outdoor” market and how do you identify your customers?  If you think it’s everybody who’s not indoors, it’s nobody.  I guess it helps a little if you say, “active outdoors,” but it hardly solves the problem.

Perhaps, as we’ve become more and dependent on the public and private equity markets for financing, you have to define your brand’s potential in a way that at least appears to place it in a market where there’s enough growth opportunity- even if that’s destructive of the brand in the longer term.

Read These

This first article, “Over Storing America,” gives some insight into how retail got to be so overbuilt that perhaps you hadn’t thought about.

The second, called “Retail Shift,” was sent to me by a friend.  Thanks friend.  The article says:

“the market make-up has been shifting and continues to shift from a fairly homogeneous composition of primarily baby boomers into a significantly splintered compilation consisting of Gen X, milliennials, Gen Z and the boomers. Multiple sub-segments exist within each of these large segments that have their own defining characteristics. This complex segmentation is compounded by the fact that the vast majority of retail platforms today have erroneously been founded and built on the strategic premise that large homogeneous groups of people generally desire the same things.”

Both are worthy of a read.

 

Agenda’s Got a Consumer Agenda

As usual, the Agenda trade show, Long Beach version, was held July 13 and 14.  What was unusual was that it was followed, on Saturday the 15th, in the same space with the same brands attending, by its first consumer show.  Having no intention of spending three whole days in the Long Beach Convention Center, I arrived late Thursday afternoon.   I walked the show Friday and spent four or five hours in the consumer show Saturday.

We are all aware of the long, ongoing conversation about the changing role of trade shows, their relevance, and role.  The consensus, as far as I can determine, is 1) we need some, 2) face time is important, 3) we’re not completely sure how to improve them and 4) there are too many of them.  I applauded the combination of the SIA show with Outdoor Retailer.  Step in the right direction.

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Some Positive Trade Show News; Emerald Exhibitions to Acquire the SIA Show

Finally, some positive movement in the trade show space.  I’ve hung back on writing about this for a few days but SIA President Nick Sargent sent out an email to all SIA members announcing and describing the deal, which is subject to approval by SIA’s premium members.

The email from Nick was labeled “CONFIDENTIAL: DO NOT SHARE OR FORWARD,” so naturally everybody in the industry who’s not in a coma now knows about it and has a copy.

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Emerald Exhibitions- Owner of Surf Expo, Outdoor Retailer, Interbike and Others- Going Public. Why?

Last Week Emerald Exhibition (EE) filed the S-1 that includes the first draft of its prospectus to go public.  Because it’s the first draft a lot of information (like price per share and number to be sold) is missing.  Still, it’s worth a review.  We’ll summarize the company’s history and activities, look at the financial results, talk about their market and how they see themselves competing, and discuss why they are going public.  I also want to point out a risk factor they seem to ignore.

Who’s Emerald Exhibitions?

What is now called EE was acquired from The Nielsen Company by Onex in 2013.

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Trade Shows: Can’t Live with Them, Can’t Live Without Them

Life was simpler when I wrote my first article on trade shows in the mid-90s.  We went to trade shows because it was the only place to see, and to make, complete product presentations, and discover new, meaningful, features and products.  There were also a lot more specialty retailers.  The shows were the only place they and brands could efficiently connect and do business- by which I mean write orders.

All that’s changed.  It’s not that it doesn’t still go on, but it doesn’t have to happen at trade shows like it used to.  There are other choices caused by consolidation, the internet, and changing consumer behavior.

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Agenda- Trade Shows, Brands I Saw and Possibly Random Thoughts

What I most liked about Agenda this time was how refreshingly inviting it was.  Lots of open space and perhaps wider aisles.  Maybe lighter?  Especially on Wednesday, there appeared to be a lot of traffic and people seemed upbeat.  Apparently that might have had something to do with getting a few days of sun after a pretty gloomy late June.

Still, I wondered if the openness wasn’t an indication of fewer brands taking booths or maybe taking smaller booths.  I didn’t talk to anybody who told me straight up how great business was and certainly the role of trade shows (not just Agenda) continues to evolve.

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IASC Skateboarding Summit – Have We Found a More Valuable Way to Talk With Each Other?

So there I was sitting in the conference room of the Embassy Suites for day one of the IASC Skateboarding Summit waiting for the dreaded retailer panel to start.

You all know the panel I mean.  They have one at every industry trade show and conference I’ve ever been to.  Three or four retailers sit up on stage, a moderator feeds them questions they often have in advance (well, that’s what I always did) and they give cautious answers that aren’t that useful, typically aren’t a reflection of actual business conditions, and make unrealistic requests of the industry and the brands to “fix” skateboarding, or snowboarding, or whatever.

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