Did you know that 95% of new products launched in the market tend to fail? Why, you ask? Well, in simple terms, consumers judge products based on face value.
While purchasing products, consumers don’t spend time assessing the pros and cons of each product in their shopping cart. They tend to base their decisions on the product’s packaging. Here’s how packaging can influence your product’s market position.
Consumers Judge a Book by Its Cover
A recent survey showed that 72% of consumers say that the package design plays a massive role in their purchasing decisions. Although we’re told not to a judge book by its cover, market analysis says otherwise. Consumers tend to be more superficial in terms of purchasing. This is why it’s essential to create a compelling package design to intrigue both new and old customers.
Packaging Can Influence Sales
Your design can significantly influence and promote overall growth. MillerCoors saw a slight decrease in sales last year and decided only to change the packaging. Although the product was exactly the same, they witnessed a quick 5% increase in sales. In other cases, poor packaging can reduce your sales as well. For example, in Australia, cigarette companies have to adhere to the government’s plain packaging law. They believe that removing packing branding rights will help reduce the number of smokers in the country. Marlboro couldn’t even use its logo, and the package had to be covered with graphic images and warning labels. This resulted in the greatest reduction in the number of smokers in the country since the past twenty years.
Packaging builds the Product’s Identity.
Being an essential marketing strategy, your package design will decorate your product to attract the audience’s attention. Think of some popular brands in the market, you’ll notice they one thing in common; they’re all memorable. Let’s look at Coca Cola; its logo and the red-white color scheme is globally recognized, and consumers can immediately create the link between the colors and the product packaging. Even though the packaging may cost more than the product itself, it helps the brand create an international identity while adhering to the four P’s of marketing: place, promotion, product and price.
Another example is that of Apple; although the minimalistic white packaging might not speak that much, everyone can recognize an iPhone with its apple logo. Similarly, consumers won’t be able to tell if a piece of jewelry is from Tiffany and Co. unless it’s in a turquoise box with a white satin ribbon.
How Can We Help?
Product packaging can make or break your brand’s market position. If you’re looking for a reputable design agency for bottles with top-notch product packaging services, get in touch with us. We’re known for our luxury designing and product packaging services and sustainable packaging. We also offer crystal bottles for spirits.
Check out our catalog or call us at 1 (305) 602 5644.