Purpose - The purpose of this study is to integrate divergent discussions located within the marketing, economic geography and economic sociology literature about trade fairs and their functions, around an exchange-based view of trade fairs. Design/methodology/approach - Following an integrative review approach and drawing on thematic discussions found in social exchange theory, a large corpus of research articles on trade fairs was systematically reviewed and integrated. Findings - Trade fairs facilitate five major exchange functions: transactional, informational, social, symbolic and cultural. Each of these functions is characterized by a distinctive combination of exchange structures, exchange rules, exchange resources and organizational outcomes. Practical implications - The study offers practical guidelines regarding how exhibitors, visitors and organizers can develop and benefit from an exchange-based view of trade fairs. Originality/value - The current study integrates three divergent literature streams into an exchange-based view of trade fairs. In so doing, the study offers a common conceptual foundation upon which future trade fair research can intersect and cross-fertilize.