Event industry post pandemic predictions
Our friends and clients in the event industry had a remarkably difficult year. As valet solutions and parking management providers for premier events across the Greater Toronto Area, we have seen first-hand at the hard work that goes into making an event something special — and we’re humbled to have been a part of that.
Moving into a new year, we are eager to see our partners across the industry thrive once again. To project some positivity on what is currently an industry largely on pause, we’re making predictions about the post-pandemic event industry comeback.
A cautious comeback
Navigating the new normal of event planning will be a learning curve for many. As vaccinations ramp up and event spaces begin to reopen, planners will undoubtedly take extra caution when signing contracts with vendors. The world is still in flux and while we are all excited to get back to work, the days and months ahead are unknown, so cancellation clauses will continue to be a hot topic for the coming year.
Supply and demand
People will be eager to gather to celebrate and experience events in-person. Immediately post-pandemic, we are likely to see a short-term supply and demand issue, as most venues will not yet be up and running at full capacity. While this may be a good problem to have, it will take some planning, and good customer communication, to manage.
The importance of value-added services
With budgets a strict focus this year, clients will be looking to stretch their investment. For planners serving the event needs of organizations, this means demonstrating ways in which elements of their events contribute to their client’s bottom line. Examples of value-add include professional valet services which reduce the time spent and frustration of searching for parking — thus increasing the time spend on-site (think conferences, shopping malls, etc.).
We are optimistic that this new year will bring with it a resurgence of the event planning industry — one that we are proud to be a part of.