As time goes on and retail trends metamorphose, brands are challenged to keep ahead of the wave. In most cases, a brand or product’s packaging can make all the difference when the consumer is at the store making a purchasing decision. In recent history, as global middle classes grow and purchasing power expands, more consumers are choosing to not define a premium product just by its price tag. In a Nielson Report, “nearly four in 10 global respondents say premium products are defined by superior design or style (38%) or by a well-known brand name (38%), but these attributes are more important in some markets than others.” This goes to show that when a product is well designed, and nicely marketed, it has the potential to outperform even the most powerful and well known labels.
Package premiumization is not a new fad. In fact, following the Great Depression, premiumization of packaging blew up. Maria Ferrante, of manufacturing.net, notes how, “the economic downturn of the previous decade has offered the industry an opportunity to try a new approach… in order to innovate their product packaging and entice customers…brand owners are re-energizing high-quality, affordable products by wrapping them in luxury packaging”.
Plastic was one of the most game changing materials to hit store shelves over time. In this wonderful article on some of America’s favorite products then and now, we can see that the change from a beautiful glass jar to a plastic one might not seem premium. What if we imagine that as production costs diminished, those same products were accessible to households everywhere, and not a just select few? This allowed product popularity to soar and for consumers to not feel left out of the purchasing game.
There is always a downside, though. And when the new era arrived in 2000, “the EPA created stringent laws for businesses to control and reduce environmental impacts. As a result, finding sustainable materials and optimizing waste became a prime agenda. Now a days, it is a business imperative to reduce the amount of packaging for products not just for its financial benefits, but the emotional connect it offers for consumers — making them feel good about their choice,” (medium.com).
Today, more brands are focusing on packaging harder than ever, and here at Coloredge we are experts in knowing exactly the needs of your brand and your consumer. Via prototypes, hero packaging or simple comps for review, we can do it all. Let Coloredge be your partner in all things packaging!