COVID-19: How the pandemic has reshaped the nature of trade fairs

The global pandemic has not only had a severe economic impact on trade exhibitions, but it will probably also prompt sweeping industry changes in the future. In Rwanda, this year's International Trade Fair will be a hybrid event in what might be the first of many. CNBC Africa's Tesi Kaven spoke to the CEO of Rwanda's Private Sector Federation, Stephen Ruzibiza, for more insights. Ruzibiza highlighted the significant challenges faced in planning the event, from reduced foreign exhibitors due to travel restrictions to the need for enhanced online services and a shift in mindset towards health guidelines amidst the pandemic. He also addressed the impact of the postponed event on both planning and production, stressing that while there were no huge financial losses, the disruption affected members' preparation and implementation. When questioned about the confidence in making sales amidst reduced purchasing power, Ruzibiza emphasized the importance of adapting to global market trends and consumer capacity. Leveraging technology, especially e-commerce platforms, has been a key strategy to minimize physical contact during the fair, with initiatives like online ticket purchasing introduced to facilitate a smoother experience for exhibitors and visitors alike. Ruzibiza also highlighted unique aspects of this year's event, such as the participation of new sectors like real estate and the heightened focus on health guidelines and awareness. Looking ahead, he expressed optimism that the success of the trade fair could set a precedent for the gradual return of events as the festive season approaches, underlining the need for continued vigilance and adherence to safety protocols. Reflecting on the lessons learned from the pandemic, Ruzibiza emphasized the importance of resilience, adaptability, and investment in digital infrastructure to navigate future challenges effectively. He acknowledged the pivotal role of online platforms in reshaping the future of trade fairs, emphasizing the potential for virtual meetings, e-commerce transactions, and enhanced business interactions to continue even beyond the pandemic. As the trade fair unfolds in this new hybrid format, it serves as a testament to the industry's ability to innovate and adapt in the face of unprecedented challenges, laying the groundwork for a more resilient and tech-savvy future.