Personalised premium packaging can help convince customers that the product is worth the extra money.
Customised packaging is becoming increasingly popular among CPG companies spurred by digital and 3D printing technology, social media and consumer demand. The piece says that the global personalised packaging market is forecast to grow at a compound annual growth rate of 5.1% between 2017 and 2025.
Brands are increasingly looking at customised packaging to cater to consumers who want a more individualised shopping experience. An L.E.K. survey cited in the article says that 75% of CPG brand owners said that they are planning on increasing spending on packaging during the next year.
Personalised packaging can help brands in getting attention, enhance sales and create brand awareness. But, the piece contends that such packaging is expensive and it is not clear whether customers will be ready to pay more.
[3 minute read]