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!
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There is a famous quote that says great things happen when women support each other. Women are the back bone of the economy and “Rural women are the backbone of sustainable livelihood” so empowering and elevating women especially women entrepreneurs is not just great for our communities it is great for our nation and the world at large.
ABOUT MB PACKAGING
For those that don’t know who we are MB Packaging is a New York City based social enterprise that helps emerging SMEs dominate in their niche, stand out in the crowded marketplace and make more money by helping them improve their branding/packaging design, tools and techniques.
MY BUSINESS BOOST PACKAGE
We recently introduced a solution for SMEs called the “My Business Boost Package” which is an “all-in-one” package for Small and Medium Enterprises to pay a discounted price for branding and packaging services to help improve their design, stand out and make more sales.
ABOUT BOOST HER BUSINESS
Boost her business is MB Packaging’s way of empowering and elevating women businesses in West Africa. So every season starting this November 2020, two women businesses/entrepreneurs will get a chance to win our recently introduced “My Business Boost package”. A $526 value for FREE thanks to our:
– Packaging and Branding partners who will be discounting their services for the SMEs signed unto our package(s)
– Sponsors that will be donatingtowards helping empower women in West Africa