| The champagne bars and other displays of ostentation may have been replaced by a focus on value for money and education, but the corporate events industry remains in a remarkably rude health.
Corporate hospitality has often formed part of the business armoury in the battle to get consumers spending. But now the days of indulging in good champagne may have given way to a new sense of sobriety. Difficult market conditions are dictating a shift away from pure glamour and glitz to focus on core brand messages, relationships and values.
Justine Clement, managing director of promotions specialist Unmissable, says that editing hospitality portfolios to fit the trend of lower key events is going o be popular this year. While the main events will continue as normal, the nice to have extras such s champagne receptions are off the menu.
“Many large companies, while maintaining a level of corporate hospitality, do not want to broadcast what they are doing and definitely do not want to shout about it,” she says. “Many want to keep their corporate hospitality under the radar and be seen as prudent and spending their money wisely.”
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