Is Your Product Packaging Due for an Update?

Packaging – More Than Protection

Traditionally, packaging wouldn’t be considered one of the main components of the marketing mix. Advertising, sponsorship events, social media and other initiatives often take priority over the actual product packaging. Today, packaging is taking on a larger role when it comes to promoting and advertising the product. With consumer preferences shifting and increased pressure to stand out in the product category, packaging is as important now as ever. So, how do you know when it’s time to invest in new or updated packaging? Will you need to buy turntable wrapping equipment to help you with your packaging? Keep in mind, this list will focus on some of the less obvious indicators of change and ignore more obvious causes for change, such as damaged product.

Consumer Discoveries

Today’s consumer is smart and extremely well informed. Technological advances give consumers product information at a moment’s notice. It is essential for brands to analyze and understand the target market’s buying preferences. A study from Westrock provided this insight:

“Packaging is as important as brand. The importance of packaging to product satisfaction has directionally increased over the past two years from 18 to 26 percent.”

The better organizations’ can understand shifting consumer preferences toward packaging, the more likely they will succeed in an increasingly competitive marketplace.

Competition Changes

Stale packaging should be avoided in the fast-moving, consumer-goods category, especially if you want your brand to be positioned as a category leader. A competitive analysis should take place before a redesign starts. Who changed, and what did they change? Tracking competitor trends can be just as important as tracking consumer trends. Avoid bench marking against competitors, but be aware of their competitive advantages and disadvantages.

It’s Been 5+ Years

Five years is a long time in the CPG industry. Within that time, the industry itself and the team responsible for the brand have changed. Past decisions made for specific motives may no longer be relevant, and the brand may need to upgrade. While keeping a packaging design relevant is a must, avoid investments into passing trends. A redesign should be a team effort that involves collaboration between several teams in order to create a new design that can strongly position itself in the consumer’s mind.

Packaging has become one of the most important aspects of the product marketing mix for consumer goods. Praxis has the tools to help your brand tackle a change in design, materials or process.

Contact Praxis Packaging Solutions today to see how we can help you. See what other cool stuff we’re up to here.

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