Here’s one interesting fact that it would benefit you to know if your company produces a product or products: did you know that about 95% percent of newly-released products are not successful? In other words, they fail. One primary reason for this is actually quite simple – many consumers just don’t have the energy (or time) to assess the disadvantages or advantages of products on supermarket shelves, so they often make their choice based on the packaging of your product. This is a fact that many business owners and manufacturers know but often fail to act upon. The power of proper product packaging is immense. Here are the top reasons why the packaging for your product plays a central role in consumer choice.
- It showcases your product’s uniqueness
There are many products known worldwide, and what makes them instantly recognisable, in many cases, is their packaging. Think of brands such as Coca-Cola or McDonald’s. The packaging you choose for your particular product will showcase your product’s uniqueness – it serves as an advertisement for your product, and even if customers are not fully aware of your product, they will automatically be attracted to the packaging if it is done well. It’s important for your product’s packaging to stand out, especially if it has to compete with a myriad of other products on the shelves.
- It has a direct influence on your profits
If you are a startup business, you should pay particular attention to your packaging. Remember that your target market doesn’t know much about what your product can offer since it’s new – so the packaging of your product will greatly impact their decision to buy your product. Attractive and effective packaging will encourage customers to take a closer look at your product, ultimately influencing their buying decision. And the more customers buy your product based on its packaging, the more profits you will earn.
Even if you are already a well-known brand, your packaging can still have a direct impact on your sales. If you want to re-launch your product, you can choose to change the packaging – and new and innovative packaging or custom boxes can pique the interest of your target market, especially since they are already familiar with your product and your brand.
Learn about the trends and the demographics
If you truly want to give your product a boost, it’s crucial to know what’s going on in the packaging industry. Do your research, learn about the latest trends in packaging, and seek help and advice whenever necessary. There are firms which supply important reports on the packaging industry, such as NOA, which offers an immensely useful corrugated packaging industry report. Know what’s out there and give your product the packaging upgrade it needs.
Image attributed to Pixabay.com