Yesterday another Client reported that the corporate New Year was cancelled. We invested quite heavily in the tender, as did some of our competitors. But no one will get the project - it will not exist.
This is not the first time this has happened this fall. Before that there was a bank, another bank, a consulting company, etc. etc. Their leaders decided not to choose the best offer, but not to spend money on the New Year's event at all. You can worry about lost investments in tenders, or you can think and draw conclusions about the future.
Large-scale New Year celebrations are a tradition only for our companies; there is nothing similar in Europe. This is an expensive tradition for companies, but very important for our event market. A huge number of corporate events in one month throughout the country - this tradition, like steroids for an athlete, allowed a huge number of event agencies of different sizes to work. It seems that tradition is gradually becoming a thing of the past and our market is becoming more like the European one.
The business of European event agencies – anniversaries, product launches, presentations, client evenings, receptions. This is what awaits us. Anniversaries happen five times less often than just New Year. Priorities will have to change. Large exhibitions, not calendar dates, will become the “hot times” for agencies.
No, New Year's corporate parties will remain. Tradition is strong! But there will be fewer of them, they will not be able to feed as many agencies as before. It looks like the number of agencies will be significantly smaller. Welcome to the civilized market. He is like that.
