Trade Fairs - How Relevant Are They Now?

According to Wikipedia, the free encyclopaedia, a trade fair is an exhibition organised so that companies in a specific industry can showcase and demonstrate their new products and services.

Some trade fairs are open to the public, while others can only be attended by company representatives (members of the trade) and members of the press.
 
Trade shows are therefore sometimes referred to or classified as either "Public" or "Trade Only".

Currently, over 2,500 trade shows are held every year in U.S. alone.

Examples of fairs include food, auto, books, computer, construction, printing equipment, tourism, agriculture, fashion and furniture.

Trade fairs often involve a considerable marketing investment by participating companies. Costs include space rental, display design and construction, telecommunications and networking, travel, accommodation, and promotional literature and items to give to attendees.
 
 In addition, costs are incurred at the show for services such as electrical, booth cleaning, Internet services, floral decoration within the booth and drayage (also known as material handling).

Consequently, cities often promote trade shows as a means of economic development.

Trade shows or fairs represent a powerful opportunity to enhance brand and product visibility, promote new and existing products, generate leads and drive sales.

In addition, show participation enables one to learn about industrial trends, gain competitor insight, make key industry contacts, and further solidify relationships with current customers and prospective customers.

Since 1967 Ghana has been holding various types of trade fairs. We have had general international trade fairs as well as specialised fairs.
 
The specialised fairs include GIFEX, which was initiated and organised by the furniture producers in the country, Indutech and Grand Sales were organised by the Association of Ghana Industries and agricultural fair which was organised by the agric sector.

These fairs are now a thing of the past. In Ghana we start a project and either abandon it or the quality of the programme deteriorates.

The quality of trade fairs that have been organised in the past had not been of any international standard.

Lagos experience

The Lagos International Trade Fair which was started in 1981 has become the premier International fair in Nigeria.
 
This spectacular 10-day event usually begins on the first Friday of November of each year. The oldest and the most influential chamber of commerce in Nigeria, that is, the Lagos Chamber of Commerce and Industry, took over the organisation in 1986.

Within this period, the Lagos International Trade Fair has grown tremendously in popularity to become a leading forum for trade and business promotion in Nigeria, and indeed Africa.
 
In recognition of its great importance and usefulness, increasing numbers of exhibitors and visitors from all over Nigeria and the world take keen interest in patronising the Lagos International Trade Fair.

What is now Zambia International Trade Fair started in 1956 as an annual Northern Rhodesia Show and has become a national event after Zambia attained independence in 1964.
 
It has developed its international aspect and its scope widened and gained its new name as the Zambia International Trade Fair (ZITF). 

The fair is a general exhibition of all types of goods.  It is held under the programme, aims and objectives of the Zambia Industrial and Commercial Show Society Limited. 
 
The fair is held annually in Ndola, towards the end of June and the beginning of July, coinciding with the celebrations to mark the Unity and Heroes Days which are Public Holidays. 
 
The duration of the event is seven days.  Participation in the fair averages 70 foreign companies and 400 local exhibitors.

The India Trade Promotion Organisation (ITPO), the premier trade promotion agency of the Government of India- will this year be celebrating 27 years of its premier event- "India International Trade Fair".

Ever since its inception in 1980, this mega-event has evolved into Asia's largest show of its kind. It provides a window to the broad spectrum of industrial progress set in the global background.
 
Today, the IITF stands for growth, power, professional competence and internationally in the field of industrial growth.
 
It has therefore become a reflection of the dynamic development of the market, leveraging India's intra-country and global trade exchanges.

This annual event provides a common platform for manufacturers, traders, exporters and importers.
 
It will once again be held in India's largest and only world class exhibition complex, Pragati Maidan, New Delhi.

Compared with the above examples from Nigeria, India and Zambia, Ghana's trade fairs from all indications are still at its teething stages. No efforts have been made to grow the quality, scope and depth of the fair.

By now the private sector - the Association of Ghana Industries (AGI), the Ghana Chamber of Commence and Industry (GNCCI) as well as the Private Enterprise Foundation (FEF) should have taken the lead role in the organisation of trade fairs in this country.
 
These three institutions have goods and services to provide and offer and not the Ghana Trade Fair Company.
 
The company is only to provide space for these institutions to tell Ghanaians and the out side world what they have on their tables or to be a regulator of fairs in this country.

For this country to achieve the seven per cent growth or more per annum, the private sector must take a lead role in the socio-economic development of the country.
 
As long as we allow state institutions to play the dominant role, much will not be achieved.

This year's fair, the 12th in the series and under the theme “Promoting trade and investment” is rather taking place on a very low key.
 
If trade fairs are still very relevant to the economic development of companies and the country at large then there is the need to do more than we are doing now as a nation and for that matter private sector entrepreneurs.
 
From all indications we in Ghana have not taken the advantage of trade fairs. Trade fairs are not just the display of products of companies. It goes beyond that.
 
Trade fairs are used to show to the outside world what companies are capable of doing or what they have done.

Trade show selling can work for any company and can be used to: Produce immediate, at-the-show sales, generate low-cost, high-quality sales inquiries, successfully launch new products or services, improve and extend your company's image, keep you in touch with customers, provide valuable insights on your competition and support your overall sales and marketing goals.

Trade fairs are not just a platform for buying and selling as we are being made to believe. It is whole promotional programme where companies made presentations on their products and services, workshops and seminars take place, business cards being thrown left and right and various contacts and enquires being made by customers and prospective customers.

For Ghana's trade fairs to be more relevant, all stakeholders must embrace new challenges to bring a new lease of life into fairs that are organised in this country.
 
Again, we should be able to build on our core competencies, by producing market and product information; business matchmaking; and organising trade fairs that would be of international standards.
 
We should be able to strengthen our links with relevant trade and business institutions outside the country so that they could fully participate in our international fairs.

The ball should now be in the courts of the AGI, GNCCI, and the PEF to organise meaningful trade fairs that can stand the test of time.

— Article by Lloyd Evans