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Picture this, some companies have retail packages that cost more than the product inside. Confusing! Right? Many cannot help but wonder why a business would choose to spend more on retail packaging. Retail packaging has a lot of effect on sales.
People perceive a well-packaged product as a quality product. You’ve also most likely bought a lot of stuff just because they came in an attractive package. The package informs that first impression of customers on the product. If they don’t like it, they most likely even not pick up the product to check what it contains.
Businesses have understood the psychology of humans. To many humans, if the eyes like it, it must be good. That’s regardless of what that product is. Take for instance colognes and deodorants, you should know the quality of the product by the fragrance, and how well it sits on your clothes and skin respectively. Well, a lot of people buy these products just because of the package they come in.
One the package creates a great impression on someone, they will easily overlook some other factors that might have hindered them from buying it.
Competition on Package Convenience
Businesses that produce the same products have resulted in competing on the basis of the convenience of their retail packages. Businesses are striving every day to come up with packages that make it easy for customers to use their product.
In the midst of conducting research and doing experiments, these businesses are ending up spending more on the packages, than they spent on making the product. In fact, retail packaging is a big industry today. They are businesses that are purely dealing with designing and manufacturing the best packages for other companies.
Keep in mind that retail packages have to be branded. They also have to carry all essential information about the product, which is a requirement of law in many countries. This makes the costs of the package even higher.
Retail packaging is indeed costly, but it is worth it. As a business, you should not be afraid of investing in great retail packages. They will help your products fly off the shelf much faster. Combine your high-quality product, with an equally high-quality and attractive package and your product, will be irresistible to shoppers. You can win big if you can provide as much convenience as possible with the package as well.