Cost of the pandemic to the fair industry is 145 billion dollars

Cost of the pandemic to the fair industry is 145 billion dollars
20 April 2020

The fairs that were canceled with the coronavirus pandemic negatively affected the business contacts and marketing activities of the companies. A total of $ 145 billion worth of contracts signed for fairs around the world in the second quarter of the year were suspended. Virtual fair platforms developed are trying to be a solution to the victimization to some extent.

*** This release is originally published in Turkish.
Google Translate Application translates the content you see on this page.***

ISTANBUL (TR) - Due to the coronavirus pandemic, which has been continuing its effect for more than 2 months, many fair organizations have been postponed or cancelled from technology, furniture, industrial products to white goods. Compiling the data of the International Fair Industry Association, B2B e-commerce platform TradeValley announced that more than 325 fairs planned to be held in the second quarter of 2020 worldwide were cancelled and a total of 145 billion dollar fair contracts were suspended. Economic losses were recorded as $ 88.2 billion due to cancellations in the second quarter of the year. In Turkey, where 482 fairs were held in 2019, 70 fairs were cancelled due to coronavirus in April, the most fairs held in the past year. The status of the 11 fairs, which are scheduled to be held in May, remains unclear.

Taking action against this situation, TradeValley launched the virtual fairing system ExpoValley in order to contribute to businesses that suffer from the cancellation of fairs. The virtual fair platform, which will bring together exhibitors and visitors from all over the world, is aimed to save costs and plan fair processes more efficiently.

The first virtual fair is free

Stating that they aim to support businesses that negatively affect their business contacts due to fairs cancelled within the scope of coronavirus measures, founder of the e-commerce platform TradeValley Yusuf Yenitürkoğulları said, “We strive to be with all producers and traders. In this period, where we think that virtual fairing will gain more importance, we aim to help many wholesalers, manufacturers, exporters and solution partners in Turkey and abroad have one-click communication opportunities and expand their business connections. In this context, we will organize the first ExpoValley fair organization free of charge as of May 4, 2020. We hope that this step we take will compensate for the negativities experienced in commercial life in a short time and add value to our country's economy.”

It is possible to reach anywhere in the world with one click

ExpoValley, a virtual fair platform developed by TradeValley, will bring together exhibitors and visitors operating anywhere in the world on a single platform, allowing products and services to be marketed and improved collaborations. Stating that they create a serious time and cost advantage, Yusuf Yenitürkoğulları said, “A computer or mobile device with a webcam, microphone and internet connection will be enough to attend the organized fairs. With the simultaneous translation service in Turkish, English and Arabic, the participants will be able to make the necessary meetings without any foreign language problem. All audio and video contents are encrypted end-to-end on the platform using cloud technology to meet the security needs of virtual fairs.”

Contact: Tülay Genç | [email protected] | +90 (850) 885 12 55