Although it says, ‘Don’t judge the book by its cover’, well, this theory does not work for business. Apart from manufacturing goods, another vital aspect of every single business is the packaging. It is a type of task that provides completeness to the manufactured goods and enhances the attraction of buyers. The final impression of the company majorly depends upon how the packaging of the product.
Many prominent business entities do often complain that they have to spend a huge amount of money on packaging. For this reason, it has become impossible for them to lower down the price of the goods. Undeniably, business is strongly associated with trading loans either from investors or direct lenders for bad credit. To secure profit, there is a requirement of a high price tag.
Unfortunately, buyers pay the slightest attention to this reason of high expenditure. It is because most of them want to pay low and enjoy good quality products. Therefore, there is no other option left to stay within the competition instead of minimizing the price range. We suggest not worrying as there are some extraordinary ways to diminish packaging cost and enhance profit margin.
5 easy & attractive ways to save money while packaging products
1. Reduce the size of the box:
One of the primary ways to save money on packaging can be done by reducing the size of the box. It is such a slight chance that it is hard to recognize. The scope of saving money on the packaging is easily achieved due to curtailing down the size. By reducing size, a company can also curtail down the quantity of the product. It opens up additional savings on manufacturing.
Moreover, the company can enjoy reducing transportation costs as comparatively small boxes are easy to fit into one truck. Therefore, double transporting cost comes down to single expenditure. For instance, if a frozen food company uses the same method of reducing the size of packaging boxes by curtailing the quantity of food, it will save expenses and help to earn profit.
2. Restructure in the interior of boxes:
Another easy way to curtail down expenses on the packaging is by restructuring those existing boxes. Applying the tertiary packaging method can help in restructuring. If there is a scope of pouring more than 5 products in a single package, it will decrease the cost.
For instance, it is not at all uncommon that many cosmetic manufacturing companies used to fit into one box more than 5 products in such a way so that they may stay diversified from one another. Besides, such packaging style attracts buyers due to remodeling of old packaging type. Just imagine how strategically you can reduce costs and attract consumers.
3. Change materials:
Another helpful way to reduce expenses on the packaging is changing materials. While manufacturing the box, a company needs to pay a good amount of money due to high-quality raw materials. It may be easy to reduce if you transform the type of materials from polythene to paper. Besides, putting extra glue will not ensure security inside the box.
Instead, using only the required quantity is enough to ensure harmless delivery. Sometimes it has been observed that, while wrapping up large boxes, it uses lots of wrapping papers. Thus, you need to ensure that materials used for completing the entire packaging won’t exhaust unnecessarily.
4. By ‘Going Green’:
Going Green project is something that focuses upon the increasing usage of environmentally friendly packaging. It initiates the usage of recyclable and biodegradable materials. The concept has become more popular, and many companies are joining hands on this project.
According to a recent statistical survey, companies that use biodegradable packaging methods have achieved more than 6% growth between 2016 and 2021. One of the possible causes of such a level of growth is, reducing cost.
Environment-friendly materials are not cost-effective and easy to make. For this reason, if you also apply this packaging strategy, it will help increase the profit margin.
5. Using good quality box:
To reduce the cost, one should maintain the quality of the box. Using bad-quality packing boxes can cost you even higher as there is a chance of product damage during transportation. Therefore, it is better to restructure the box and use only the necessary quantity of raw materials to create the box, but the bad quality box is not acceptable.
Importance of packaging
Above mentioned last way of minimizing cost on packaging raises the topic of the importance of good packing. As discussed, packaging plays an integral role in attracting consumers. While attractive packaging may attract consumers, careless one will drive out buyers. So, it plays a vital role in securing the revenue of the business.
1. It protects goods:
Each and every buyer expects a certain level of protection after ordering products from a company. Buyers do not want to see their ordered products in broken condition or in an unprotected situation. For this reason, good packaging is essential. The primary purpose of packaging is to protect against outward damages.
2. It safeguards the product:
The safety of the ordered product is the ultimate necessity that every buyer desires. A product may contain essential and confidential thing which requires the safety of the goods. Even the delivery boy should be unaware of what is inside the box. Therefore, without using a secure packaging method, it is impossible to maintain confidentiality.
3. Holds the attraction of buyers:
Another important aspect of using good packaging is its point of attraction. Packing wrappers that look good always attract people. For this reason, experts of package designers used to examine different types of designs to attract consumers and provide the comfort of carrying products while on the move.
The method of packaging has evolved to a great extent. Nowadays, packages are designed in different ways, like, adding a little handle, restructuring the size of the box, which is easy to carry within the handbags, and many more. Every company should remember that, without innovative packaging ideas, it is impossible to attract consumers, and if unable, then revenue generation will face hindrance.