Make luxury affordable with packaging premiumisation!

There are two main factors brand owners take into account when they seek out a ‘premium’ appeal. The first is that any packaging change is vital, constant, and should ensure success in the Dual Ovenable Lidding Films Market. The second is premium packaging i.e. a product presentation that is over and above customer expectations with a touch of luxury. This makes a world of difference in cementing brand loyalty. However, the characteristics that define ‘premium’ have altered through the years with changing customer tastes and preferences. It has been observed that premium packaging is not only synonymous with heavy-duty materials, but also with convenience and environmental sustainability. As brand owners seek to lure consumers with ‘everyday luxury’ offered by premium packaging, they should also pay attention to modern consumer trends to strengthen their position in the Dual Ovenable Lidding Films Market by exploiting the correct material formats. By working in tandem with suppliers, companies will be able to profit from a continuous stream of new innovations in containers, materials, printing capacity, and the equipment to handle all of these effectively.

The economic downturn of the last decade made the packaging industry seek out different approaches. To entice customers and make innovative product packages when the general consumer perception has been ‘save and not spend’, brands are reinvigorating affordable yet high-quality products by using luxury packaging. People expect day-to-day luxuries to adhere to a certain standard while adjusting their spending to the ‘new normal’ accordingly. This situation is no different in the packaging industry. For e.g., ready-to-eat foodstuffs are quite popular for dual-income families that may not have the time to prepare their meals. A product that was once seen as a low-cost commodity has been transformed as demand boomed on account of economic reasons. Seeing the immense potential in this, brands have created premium packages that make the quick meal very attractive to look at. As a result, modern day quick meals are scarcely recognisable as simple dinners that save time. Premium packaging elements such as compartmentalised containers and ceramic pots enhance the experience and give the feeling of having a ‘home-cooked’ meal.

Advancements in current packaging formats are allowing generic products to thrive on store shelves. Another example is the stand-up pouch that focusses on premium positioning by way of product differentiation. Converted features and pouch fitments such as pour spouts have increased the package utility. In addition to this, the microwaveable structure expansion helps make the stand-up pouch design even more convenient. The very concept of everyday products with a unique, exclusive look through premium packaging helps form a customer experience that imparts quality and luxury without any compromise in customer wallets. The emerging idea that ‘something need not be expensive to be special’ is slowly but surely responsible for this growing trend.

Aesthetics are not the sole USP in the market as functionality is equally important in brand representation. In terms of packaging, consumer packaging goods typically aim to enhance the overall experience instead of focussing on the packaging exclusively. The experience begins as soon as the customer sees a product that ‘stands out’ from the competition on store shelves. Package construction is essential to product differentiation and it plays a key role in the elevation of the package positioning from ordinary to premium. An important area is easy-to-open packages. Consumers have limited time nowadays and need on-the-go convenience. This calls for packages that open fuss-free in the office, at lunch, a sports game, or even in the car.

With the surge in millennials who continually demand a great deal from their products, packaging suited to an on-the-go lifestyle has become very popular amongst younger consumers. Initially, smaller packages were considered ‘mini’ versions, but now they are simply more personalised and quite distinct from the regular ‘family’ offerings. A number of food manufacturers are looking at ways to package their single-serve products as their flagship offering. These portion sizes are expected to demonstrate functionality and quality.

The concept of premium packaging supporting the product is particularly important with respect to the demand for healthy products. Experts believe that the lifestyle packaging trend is intricately linked to the number of wellness products that have flooded the market now. Consumers expect that necessary information must be on the package as this can provide a unique connection to the product. In addition, brands are also able to improve the buying experience and cultivate greater brand loyalty. No matter the market, premium packaging can go a long way in attracting and retaining customer attention, thereby boosting sales. It is definitely possible to convey a sense of affordable luxury with enhanced packaging designs. Companies are thus advised to take note of and make the best of this!

Shambhu Nath Jha

Shambhu Nath Jha with an experience nearing a decade, has helped over 50 large and medium to small business enterprise to foray into new markets, increase footprint in the existing bucket and understand the nature of the beast. These beasts are the companies that have been primarily engaged in chemicals, material or packaging activities, and encountering challenge either in maintain P&L or staying ahead of their competitors. He has authored over 300 industry research papers consisting critical information such as market growth, total addressable market, serviceable addressable market, market size, forecast, player strategies, market share estimates and winning imperatives along with recommendations. He is also the pioneer of “three slope distributor/off-taker evaluation model” used by several multinational companies to track the performance of channel partners. A consultant by profession, writer by mood and explorer by desire, Shambhu Nath is currently employed with a London based market research and consulting firm as a full time consultant. A few of the industry verticals where he demonstrated his skill includes water and wastewater treatment chemicals, high purity alumina, water purifiers, activated carbon, chloramine filters, bio-based bioplastics, water purifiers, textile chemicals etc.