Every company wants to ensure that products are expertly packaged. You might find that you’re under the impression it’s time to update packaging for products. Statistics from the 2016 West Rock Customer Insights find that 26% of those surveyed felt that product packaging is an important aspects of overall product satisfaction. It’s important to note that this number of 26% is up for 13% seen in 2013. Businesses have a lot of matters to tend to throughout a typical day. It’s easy for product packaging to quickly fall behind the times. Here are four crucial signs it’s time to update the product packaging of your business.
- Sales Begin to Decline
If you’ve noticed that revenue is beginning to slip, it could because your packaging is dated. Unfortunately, everything begins to show signs of age over time. Many of the clothes you’ve worn in the past are probably horrifying to think of now. Every company has products that become dated over time. The world of retail is one that moves very quickly. You’ll want to ensure retail packaging for your products stays current. A patented packaging company can help to ensure your brand has package designs that will stay in line with today’s trends.
- Fewer Retailers Wanting to Carry Your Products
Retailers want to carry products that are selling well. Workers at all retail locations take some form of inventory. If a line of products isn’t showing high enough sales numbers, a retailer will want less of them. Making matters worse, a retailer may decide to completely stop ordering your products. It’s imperative to have a product packaging update before you start losing many valuable retail partners. A patented packaging company will help come up with fresh ideas to ensure your products are flying off of retailer’s shelves.
- Competition Updates Product Packaging
Statistics show that 66% of consumers try a brand new product due to the fact that the packaging caught their eye. You’ll want to do check out the competition to see if packaging updates are taking place. If you’re seeing a lot of new designs, it’s time to consider an update of your own. Working with a patented packaging company will provide you unique designs and ideas that aren’t found through other vendors.
- Older Packaging Methods Aren’t Efficient Anymore
Many companies used to steer clear of green packaging due to cost concerns. You’ll find that technological innovations have made green packages more affordable than ever. Many companies benefit from going green by reducing costs and making a positive environmental impact. Statistics show that 52% of people make purchasing decisions partially due to product packaging that highlights a brand’s positive social or environmental impact. It’s a wise idea to have box labels that advise consumers your brand cares about the environment.
In summary, there are several important signs that it’s time to update product packaging. One of the most important signs your packaging has become dated is if sales begin to decline. No business owner wants to deal with declining sales. You’ll often find that updating product packaging is a great way to increase public interest in a product. If retail stores are ordering less product from you, it might because these products aren’t selling well. Competition updating the designs of their products is a huge indicator it’s time to do some updating of your own. Many business owners find that updating product packaging can reduce their overall costs. A patented packaging company can help ensure your product packaging catches the eyes of every customer.