Participate in coffee trade fairs – Should or should not?
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With the popularity of coffee in the global market, the number of coffee events is also increasing rapidly around the world. The entire industry from established brands to small and medium-sized enterprises actively participates in coffee trade fairs. However, the cost of attending and investing in an exhibition can be very high. Many businesses have to spend resources to prepare. However, the value of profits earned at the time of the event may not be positive, causing some obstacles for small-scale companies. So should these businesses participate in coffee trade fairs? Find out with 43 Factory Coffee Roaster!
The chances of breaking even when participating in coffee trade fairs are low
For any event, participating companies must register, pay participation fees and build an exhibition booth. Depending on the size, location, and needs of the fair, this cost can vary significantly. It is estimated that businesses can spend about 634 USD (approximately 15 million VND) for regional events and about 63,463 USD (1.5 billion VND) for world-class events. Although it consumes a lot of budget, profit from selling products at the fair cannot be controlled.
For small companies with limited resources, budget allocation for activities needs to be more careful and optimized to the maximum. The return on investment for these brands is essential. Because holding a booth at coffee events can last three days. This accounts for a large portion of marketing costs, affecting a number of other business activities. What’s more, the cost of attending a trade show can quickly add up. Because in addition to participation fees, most coffee events encourage exhibitors to design booths, promote programs, provide free samples, etc. This makes the intention to earn high profits from stall is quite difficult.
Benefits of participating in coffee trade fairs
Coffee exhibitions are organized for commercial purposes, connecting the relationships of actors in the supply chain. Depending on the scale and type, events can provide a large number of attendees with similar psychology and purchasing behavior. Businesses can increase awareness, interaction, promotion and engagement with potential consumers. Here, many experts, representatives of large organizations and other business owners in the industry also gather. This provides the opportunity to expand relationships and easily receive specific and important news in the field.
Some events also include competitions and auctions such as World Coffee Championships and Coffee Masters, helping coffee lovers and businesses access rare, high-quality sources of goods. This is also an opportunity for businesses to appear in the sights of international media and at the same time leave a good impression on the public and trade partners.
Should you participate in coffee trade fairs?
Making a profit from your booth is quite difficult, but participating in exhibitions can be a worthy investment in both time and money if you make good use of opportunities when reaching out to the community, opening widen relationships within the world. These places provide more neutral platforms for buyers to freely choose businesses that match their “insight”. Therefore, businesses can reach and market more accurately to consumers to adjust appropriate strategic directions in the future.
However, experts in the coffee industry say these events are not always a level playing field. Besides, balancing participation costs and profit potential is very important. Participating businesses need to determine their goals and feasibility based on existing resources to select events that match their orientation.
If you want to discover information about the coffee industry, follow the news channel of 43 Factory Coffee Roaster.
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