Most FMCG companies take packaging design extremely seriously as its a very cost-effective method of advertising compared to other methods to increase sales.
"Your product’s salesman is your Packaging"
Think back to the first time you decided to try a new product from an unknown company that became one of your new favorite brands. Chances are the packaging had a major impact on that decision. Yet product packaging is an afterthought for some brands. The product is designed first, often by a different team that doesn’t think about packaging. This disconnect drives some brands to miss the opportunity to integrate the two strategies and elevate the overall product/brand value proposition.
Packaging strategy can seriously impact consumer purchasing decisions. Here are four packaging statistics to highlight the implication of packaging strategy.
of consumers tried something new because the packaging caught their eye.
- A product’s packaging design plays a vital role in attracting consumers because it is the first thing buyers see while shopping or browsing, either online or in-store. If the product’s retail packaging looks attractive and compelling, buyers will likely form a positive perception of the brand and try.
of Businesses report an increase in revenue when they improve the product packaging.
- Investing in a great packaging design may get ignored, but a strategic customized packaging may potentially push more than enough cumulative profit to cover the cost. Three out of ten businesses claim that they observed substantial revenue growth following packaging advancement.
- A product packaging design will make your product stand out among competitors and strengthen your consumers’ trust. Consumers will associate this trust with your brand’s other products as well. It reinforces your brand identity, which may connect to a revenue increase.
of consumers are willing to pay a little extra for products if they like the packaging.
- Brands should know the aspects that affect consumer buying behavior. In one survey, 72% of American consumers state that a product’s packaging design has a significant impact on their buying decision. That’s a sizable majority.
- A product’s packaging connects with the right consumer that makes the consumer comfortable to pay extra in exchange for the perfect product.
of consumers purchased a product again because of the appearance of aesthetics of the packaging.
- Studies have demonstrated that colors affect a consumer’s feelings. such as the way that red can be hunger-inducing, white represents purity, and black signifies elegance. Product information printed on the packaging also influences purchasing decisions as it combines both descriptive and marketing content to inform, entertain, and persuade the buyer. This results in repeat purchases eventually growing the business.