A lot of brands still treat packaging as an after thought and are quick to “cut cost” or chose lower quality packaging for their brands. Unfortunately, this point of view is short-sighted and would hurt your revenue and sales margin in the long run. It is like being “penny wise and pound foolish”.
According to billerudkorsnas, “Optimizing your packaging may have a higher price point to begin with, but over the long term, investing in optimised packaging yields cost savings and peripheral benefits for the end user. This infographic illustrates the often-overlooked costs associated with low-quality, unoptimised packaging, from damage and returns costs to warehouse and distribution expenses”.
Check out the statistics from this report they did regarding unoptimized packaging.
With the increased competition in the marketplace and reduced attention span of potential consumers, (your product/service only have 3-7seconds to make an impression) ensuring your brand remains top of mind has never been more important as it is now and upgrading your brand’s packaging is one of the surest ways to make that happen.
So when drawing up your marketing budget, be sure to look at your packaging budget as well and just Incase your product gets dropped a couple of times while on transit, it will still make its way to the consumer(s), give that unboxing experience you intended and ensure you keep your customers guaranteed!