Toronto, Ontario — Skipping auto shows can result in brand damage and lost potential business to rival competitors, according to recent findings from Foresight Research.
“If you view an auto show as a shopping experience, there are a lot of opportunities for brands to both gain by its presence or lose by its absence,” said Chris Stommel, president of Foresight Research. “The data over the shows we’ve been conducting since [trade shows] resumed in the spring are painting that picture clearer than ever.”
Foresight based these findings on attendance from 10 auto industry shows that have taken place in the United States since Spring 2021.
According to preliminary findings in Foresight’s data, many consumers attending shows already know what brands will be there. If their particular brand of interest is absent, they’ll shift their focus to a rival brand for consideration–something that would have likely never happened otherwise.
“If I’m a BMW owner, I go to a show and BMW is not there, what am I going to do with my time?” said Stommel. “Look at the competitive luxury brands that are there.”
Stommel said Foresight’s results remain consistent no matter the city the event takes place in.
“All signs are pointing to it being a defensible statement,” he said. “It’s a big story, especially for the brands that have been waffling on whether they want to come back and to what degree.”
He also noted that certain brands might be more selective about which shows to attend, but as for “the complete and total absence from shows, there is no brand that would not suffer.”