A unique trial comparing the same everyday products with the only change being their associated packaging has recently been conducted. The results are startling!
Products were rated 35% better overall simply down to the packaging. Consumers rated perfume smelling 60% nicer and wine tasted 53% better purely down to the quality of the packaging! It means that the part packaging plays in adding quality and value to a product can not be underestimated.
Six everyday items were chosen for the trial. Biscuits, chocolates, perfume, wine, a t-shirt, and a set of wine glasses to understand how packaging could influence price and the perceived quality of the products. These identical items were shown to 100 consumers with half being wrapped in value/ low-end packaging and the other half in luxury packaging. It showed that consumers were willing to pay up to 3 times more, on average, for an identical product, 4 times more for the chocolates!
So the packaging seemed to influence how things tasted and the trial demonstrated that the trial participants were willing to pay 7 times more for biscuits when they were presented in a trendy canister pack, for example, rather than a basic simple cellophane wrap.
73% agreed that their perception of the packaging played a massive role in understanding or sign-posting if the product was premium or low value and was a huge influence in choosing a product. The quality of the packaging was also a key factor in deciding on purchasing an item as a gift, even if the product itself was inferior. If the packaging resonated with them and looked luxurious, they would still buy the product.
It is clear that packaging plays an integral role in the decision making process and drives consumer understanding of premium or low value brands. Being able to charge more for a product purely based on packaging alone means that retailers need to be incredibly tactical with the packaging associated with their brand.
If you require help in in ensuring you can command premium prices for your products – get in touch with the team at Acopia. We can design your packaging for optimal consumer spend!
Trial conducted by Packaging Innovations London