Market Trends of India B2B Events Industry
Retail Sector to be the Largest End User
- As a result of the entry of several new players, the Indian retail sector has become one of the most dynamic and fast-growing sectors in the world. It represents more than 10% of the country's GDP and about 8% of its employment. In the retail sector, India is the world's fifth-largest destination.
- Under retail, clothes, shoes, consumer electronics, and others are considered in the scope. For instance, the Great Indian Summit 2024, a two-day physical event that took place on the 15th and 16th of February 2024, was poised to the trajectory of the Indian retail industry with the participation of every element of the retail range, including FMCG giants, e-commerce giants, retailers, D2C trailblazers, industrialists, policymakers, industry experts, and technology solution providers, the event was set for an unprecedented exchange of ideas.
- India's retail sector has been experiencing exponential growth, with the development occurring not only in major cities and metropolitan areas but also in small towns. Some factors that have led to growth in an organized retail market in India are health and prosperity, a changed demography profile, increases in household incomes, urbanization, or changes in consumer taste and preferences.
- The benefit of industry events is that businesses can introduce goods to a specific audience while learning about competitors and establishing business ties with new clients. Each year, business events for consumer electronics draw a sizable number of exhibitors, attendees, distributors, manufacturers, and suppliers.
- The retail industry's backbone is a robust B2B. The B2B commerce environment became inefficient due to the supply chain breakdown brought on by numerous intermediaries and bottlenecks. With growing consumer pressure, the objective has been to re-ignite this sector using technology. Investigating key trends enables businesses to leverage the expanding need for online selling, digital connectivity, and an ever-increasing client base as they execute strategies to adapt to these shifting dynamics. Therefore, the growing B2B sector in the nation is analyzed to significantly bolster the market’s growth rate during the forecast period.
- New content and virtually unlimited connections are promised in business-to-business events. Marketers emphasizing events means it should continue to be profitable for B2B publishers. Integrating in-person events into the marketing mix of B2B event organizers is a necessity and a channel that is often overlooked. These events aren't just about networking; they are an innovative platform to generate leads, build brand awareness, and foster appropriate connections with the target audience. In-person events have an opportunity to engage directly, which makes them an essential part of any complete event marketing strategy as opposed to the hybrid or virtual event marketing strategy.
Understand The Key Trends Shaping This Market
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Southern India is Expected to Witness Significant Growth
- Key trends contributing to the overall growth in the region include major cities in South India, like Hyderabad, Chennai, Bangalore, Kochi, and Coimbatore, among others, with a robust infrastructure and connectivity. The increasing levels of urbanization are also expected to boost the growth of the market. According to the Ministry of Housing and Urban Affairs of the Indian government, major states in South India, like Kerala and Tamil Nadu, are witnessing rapid urbanization. For example, the urban population of Kerala has reached 47.7%, while a decade ago, it was just 25.9%. Tamil Nadu has registered an urban population of 48.4% as of 2024.
- With major cities such as Hyderabad, Chennai, and Bangalore, the growth of the B2B events is statistically significant. For instance, the GMEC 2024 team of experts explained that Bengaluru is a major city, the capital town of Karnataka state, Silicon Valley in India, a hub for headquarters, specialized hospitals, health care, and rehabilitation centers are very appropriate places to hold such an event at this time. The government of Karnataka has undertaken an initiative to promote Bengaluru as a center for health start-ups and encourage events. GMEC catalyzes progress, ignites new trends, nurtures global partnerships, and leads the industry to its next level.
- Further, future events may be planned strategically in addition to other marketing channels, such as digital and social media campaigns. Each event is crucial in a company's efforts to generate leads and market events. They give businesses a platform for creating distinctive experiences, engaging their target audience, and generating excitement, particularly at the launch of new products. The B2B event marketing strategy is multifaceted and brings several benefits essential for the growth and success of businesses in different sectors. These benefits represent a wide range of objectives, from networking to acquiring leads, and are crucial for the company as a whole in its marketing effort.
- Physical events are analyzed to hold a significant share in the region. Networking opportunities are invaluable at B2B events, including in-person or hybrid events. They allow businesses to interact with industry peers, prospective clients, and thought leaders in a way that facilitates the building of lasting business relationships. Effective promotion also helps to create brand awareness, which is a key objective for many B2B events, especially invitation-only ones.
- Further, South India's B2B Expo on Build Industry is back in Hyderabad. The iDAC project is a critical moment in the evolution of the construction and architecture sectors. It is a launching site for innovative ideas, transformative technologies, and sustainable practices that may shape the industry's future.
