Trade Show Insights & Analysis
How Cannabis and Hemp Trade Shows Have Adapted to the Covid 19 Pandemic
Welcome to part two of our Trade Show Insights & Analysis where we will look at how Cannabis and Hemp Trade-shows are adapting to the Covid-19 world.
Last week we observed the market effects that COVID-19 had on the Cannabis and Hemp Trade Show industry and found that most events were canceled or postponed, impacting event organizers and vendors alike.
Lift & Co. Corp, a Canadian cannabis-focused events company, filed for bankruptcy at the coronavirus pandemic's onset earlier this year. In a press release, Lift & Co. said the coronavirus pandemic resulted in its cash flow from events "essentially ceasing," which led to the resignation of all directors and officers.
No matter the situation, opportunities for networking always remain in high demand. As a response to the pandemic, Cannabis & Hemp Trade Shows turned to digitizing the experience, moving to virtual spaces that can provide some of what live shows supply.
Adaptation and innovation have been the name of the game.
First, we take a look at CannaCon, an event business that has held cannabis expos all over the United States for years. They hosted their first three-day virtual online event, Virtual CannaCon, on July 28-30.
Virtual CannaCon’s experience aimed to emulate live conventions. It included an expo-floor with live representatives, Q&A sessions after each speech and panel, and networking rooms for attendees to connect.
Attendees could also experience educational seminars with industry experts, and explore products showcased on the virtual exhibition floor.
Marijuana Business Daily has announced that the largest trade show in cannabis, MJBizCon, will take place on December 2-4, and will be a fully online event. Attendees will still be able to establish new connections, make deals, secure funding, and forge relationships.
In addition to hosting online events, MJ Business Daily developed, in a partnership with Leafwire, another solution to interact and engage with its audience. A LinkedIn style digital service for Marijuana industry professionals.
MJBusiness Daily launched two cannabis-related discussion groups on Leafwire.
One group focuses on international marijuana business news; the other shares stories and trends about the hemp industry. The partnership supplies content from MJBizDaily directly to Leafwire's audience, giving industry professionals access to valuable information.
Hemp Industry Daily, a leading B2B news source and event producer for the hemp industry, and the Hemp Industries Association, the largest membership-based non-profit trade association- announced their partnership on May 28 this year.
As the sole media-partner to Hemp Industries Association, Hemp Industry Daily adds exclusive educational content and informational resources to its membership base, including a quarterly report with extensive industry data and member discounts to events, such as the virtual Hemp Industry Daily ConferenceDirect on June 29-July 1st and MJBizCon on December 2-4.
More Virtual Trade Shows
Hemp Industries Association hosted their Hemp Industry Professionals Meetup on the virtual Hemp Industry Daily ConferenceDirect on June 30.
Media firm Jage Media debuted an exclusive 3D Virtual Summit series called MJ Unpacked on May 12-14th. It was loaded with actionable information tailored to help licensed cannabis brands and retailers find success.
Attendees of MJ Unpacked Colorado participated in a unique online event that included peer-to-peer networking, expert Q&As, round tables, and digital exhibition platforms where attendees and exhibitors could meet, learn, and network as if they were at an in-person trade show.
These are among some of the exciting new solutions businesses executed to counteract the trade impact of the COVID-pandemic. The fact is, virtual events and online spaces foster a new frontier for business that has the potential to remain even after Covid is mercifully a thing of the past. While in-person events are king, digital versions of these events have some key advantages, such as immunity to inclement weather, lower costs to produce and put on, and significantly less manpower to run.
However, digital events come with their own sets of risks and issues.
Being on a computer by nature is a distraction risk. Virtual event hosts might have to incorporate professional media teams to help coordinate things like lighting, sound, video angles, connectivity problems, and other technical issues that can grind shows to a halt.
Regardless of these challenges, virtual events have become vital for companies rising to meet these strange new times and social-distancing reforms. The times are calling upon businesses to grow and expand their networking capabilities through online, digital, and virtual platforms..
This article by Hemp Industry Daily looks into the challenges Trade Shows face when moving online. They interview three company leaders about their experiences and personal advice.
This article by MJ Business Daily outlines everything attendees can expect from virtual events.
This Forbes article looks into the problems posed by the Covid pandemic for Cannabis and Hemp Trade Show & events businesses and examines a solution in the partnership produced by MjBiz and Leafwire.
More CannTrend Weekly Analysis
- Trade Shows in the Age of Covid (Part III)
- How Cannabis & Hemp Trade Shows Have Adapted to the Covid 19 Pandemic
- COVID’s affect on Cannabis and Hemp Trade Shows
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