As a forward-thinking company with your eyes set on growth, you’re likely assessing every factor that drives your revenue and bottom line. Every year, you’re brainstorming ways to improve in the coming year, and that should include your packaging design.
We talk a lot about the various types of product packaging; from materials to design and other ways to make your products stand out for your customers in the retail markets. But why is packaging itself important?
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The majority of segments in the United States’ core economy expanded in 2017, but the growth isn’t expected to stop this year. Anirban Basu, Chief Economist of the Associated Builders and Contractors, indicates that the U.S. economy is set up for continued growth in 2018. The agriculture and food production sector is specifically growing due to rising real wages, low unemployment, low inflation, low interest rates, a rising stock market, and low commodity prices. With surging demand for food, these manufacturers are faced with substantial opportunity to carve out greater market share. Sticking with the status quo won’t propel your business further, however. The majority of food production companies stand to better engage consumers with revamped packaging. Especially if your food packaging is lagging behind the latest trends, the time is now to redesign your product presentation and make the most out of this ripe economy.
Food labeling is a highly scrutinized, crucial part of food product manufacturing. However, it also can be an easily rushed and/or overlooked part of bringing a product to market. It's easy to make simple mistakes no matter how large or small your operation may be. It's also easy to steer clear of any issues when you are well-prepared with a plan and process and when you are working with a supplier that will assist you along the way to launch.
When it comes to Consumer Packaged Goods (CPG), knowing the wants and needs of your target market is imperative to have a successful product and brand. Consumer shopping trends are constantly changing, and these changes can impact your shelf presence, online presence and ultimately your sales. It's never a bad time to brush up on the latest developments in your market and what motivates your consumer to purchase your products or your competition. 2018 is geared up to be a pivotal year for packaging and the consumer goods market, and here's why:
Product packaging is important! You've heard this before, and it's still true. If your product packaging isn't the best it can be, it's probably costing you more money than it could be. In honor of helping your brand shine on and off the shelf, here are 6 packaging mistakes that are costing you money and how to remedy them!