At the start of this year our director, Ash Austin, joined several temporary structure providers to talk to the team at StandOut Magazine about the market, the wider event industry, and what event organisers can expect from suppliers in 2024.

Almost five months into the year, Ash reflects on the article, what has changed and what is next for the industry. 

Anxiety in the industry

 

It’s been a tough few years for everyone. Between Brexit, COVID-19, the economic climate and rising international tensions, our industry has faced significant uncertainties in recent years. Event professionals are resilient, but seeing so many businesses go under has understandably created a lingering anxiety about what’s to come. 

Overall, the market is starting to settle; both organisers and suppliers seem more comfortable, and it shows at events like International Confex 2024. While walking through the exhibition hall, the creativity and collaboration on display took me back to shows pre-pandemic. There is an optimism that is refreshing to see.

Outside the exhibition hall, however, there is still a hesitation in committing to suppliers. The industry has returned to shorter lead times due to budget uncertainties and fear of event cancellations. It is complicated with no clear solution but it ripples down the supply chain. 

Pricing and costs

 

One topic that stood out in the StandOut Magazine article was pricing. During 2023, suppliers had to juggle equipment shortages and specialised crew in addition to the UK’s economic challenges. Costs are still heavy on organisers’ minds, heavily contributing to the hesitation in committing to suppliers.

Should organisers expect to pay more in 2024? I still don’t think so.

Mike Richardson of Boutique Marquees said, “Pricing is relevant only to the quality of the product and services you are demanding from your suppliers.” I think I agree. Our response to 2023’s challenges was not to change our product or service; we don’t plan to do so now. However, the reduced lead time puts pressure on suppliers to find people and resources faster; building up additional costs. 

Advice for organisers 

 

My advice remains the same; engage with your suppliers earlier. As the market continues to settle, kit and staff are more accessible than in 2023. However, those resources will be reserved by event organisers willing to invest in longer timelines. By engaging earlier, we have more time to understand your event, your team and the resources needed to make it a success;  saving you time and reducing costs later down the line.

To learn more about how temporary structures can be utilised for your upcoming event, contact the team at Info@evolutiondome.com or call us on 01487 640640.