When you consider they type of packaging for your product, there are common factors that come into play. Cost is one, and sturdiness might be another if your product is fragile or delicate. A container’s ability to be recycled is increasingly becoming a factor, as consumers demand greener products.
But how often do you factor in how packaging will affect your product’s value?
When it comes to the perceived value of a product – and ultimately what that product is worth to the person with the wallet – packaging plays a more significant role than you might think.
Today we’re sharing ways that the right packaging can not only make your product worth more in a retail setting, but actually increase the likelihood of your product being purchased or gifted in the first place.
Better Packaging Means Higher Price Expectations
It’s not hard to imagine why a product packaged in a beautiful box makes a better impression and increases a buyer’s enjoyment than the same product packaged in an ordinary brown cardboard box.
But there’s more to it than just supposition. In studies designed to measure customer satisfaction, it’s been shown that well-packaged products are consistently valued at a higher price point, and more likely to be deemed gift-worthy.
In one study, participants all received a gift of the same product – in this case, a bowl. But not all received the gift in the same packaging. One group received it in what was deemed “economy” packaging, which was a plain cardboard box filled with typical packing peanuts, and sealed with packing tape. Another group received their gift in what was considered “premium” packaging – a white-and-clear box with cushioning inside and a “thank you” sticker affixed to the outside.
The most interesting part of the study is that none of the participants were told about the packaging. Instead, they were asked to assign an expected dollar value to the gift they received.
Ready for some eye opening results?
The group that received the gift in premium packaging valued it a full 45% higher than the group who received it in plain packaging. And the amount that participants were personally willing to pay for the product was 30% greater in the premium group.
Imagine being able to sell your product for 30-45% more than you anticipated, just by presenting it beautifully. That makes an incredible case for making packaging a top priority.
Better Packaging Makes Products Gift-Worthy
During high-demand and high-competition retail seasons, from Christmas to Valentine’s Day, Mother’s Day and more, getting consumer attention is no simple feat. Research shows that consumers view a mere 50% of products on display, and packaging plays a vital role in garnering attention.
Eye-catching products are more likely to be noticed, and attractive packaging – especially if it’s tactile and visually interesting – makes it more likely that a customer will pick a product up from a shelf.
Why is this important?
Because research also shows that picking up a product increases a sense of ownership. Once a customer has picked it up, they are less likely to put it down.
Based on the results of packaging studies, well-presented gifts not only stand out, but they have been shown to actually increase the happiness and satisfaction of their recipients.
Premium packaging does more than look great – it measurably increases trust in a brand, heightens excitement, and even reduces frustration and feelings of disappointment.
Better packaging has consistently been labelled as prestigious, scoring nearly 60% higher in the aforementioned study than economy packaging.
Further, participants in the study rated the gift wrapped in premium packaging higher when asked if they would be likely to purchase it for a friend.
When it comes to gifts, good packaging ticks a lot of boxes. It makes a more eye-catching presentation. It is more likely to inspire a purchase. And it is more likely to leave the recipient with a positive impression of the product and brand.
How Plastic Boxes Stand Up As Premium Packaging
So far everything we talked about has been labelled “premium packaging”. But what defines premium? While that can be subjective, we can probably all agree that brown cardboard boxes and standard peanuts and packing tape are not it.
Often, glass is considered high-end packaging, but that can be both expensive and fragile. It can also be costly to ship, so it’s probably best saved for things like perfume and wine.
While cardboard can be well-designed and fairly sturdy, it’s unable to showcase a product until it’s opened, and depending on the design it can become costly as well.
Our plastic boxes, on the other hand, are cost-effective, lightweight, crystal clear for perfect product visibility, durable, and as an added benefit, both reusable and recyclable.
We can imprint in 20 standard inks and 15 foils, including gold and silver – and when it comes to perception and attention, foil imprinting can be another ally.
It’s a well-loved trick of the trade used by successful brands. The glitter of the foil emulates precious metals, and silver and gold are naturally associated with luxury and expensive products. The simple addition of a well-designed imprint can make the difference between your product being purchased – or being bypassed in favor of something more attractive.
Plastic boxes stand up to being handled and moved, they protect contents during shipping, they can reduce costs over other types of premium packaging, and they can be fitted with custom inserts including foam, flock board, and more, for a truly value-enhancing experience.
Finally, our plastic boxes are all BPA-free and food safe, which means they’re great at protecting and showcasing artisan creations of all types.
Stack them, wrap them, imprint them, add ribbons and bows, and transform your product from just one of many on a shelf, to one that creates a memorable, branded and purchase-inspiring experience.
If you’d like to know more about how plastic boxes can be a cost-effective and customized packaging solution that increases the value of your product, contact us and let us know. We’ll work with you to create the ideal solution for your product and brand.