With consumer preferences changing at a frenzied pace, understanding trends impacting consumers are key to better packaging design and innovation partnerships. Here are five overarching market trends that
we monitor and track to ensure that your product survives in today's marketplace.
we see impacting your product's packaging and your ultimate success in today's marketplace.
we consider when partnering with your brand for marketplace success.
Consumers are growing increasingly aware of how their purchases impact their bodies, their communities, and their environments. Every part of your product is a story waiting to be told, and your consumer wants to hear them. From responsible sourcing to environmentally friendly packaging options, transparency and access to information are informing and impacting purchase decisions.
Sustainably minded shoppers are expected to spend an estimated $150 billion on sustainable fast moving consumer goods (FMCG) by 2021, an almost $22 billion spending increase from today. Products with sustainable attributes make up more than one-fifth of the total store and are expected to grow to 25% of the total store by 2021. The era of the sustainable shopper is here and showing no signs of slowing anytime soon.1
More than three-quarters of US adults now own a smartphone2. That figure more than doubled since 2011. With so much content and data available 24/7, consumers want products to integrate seamlessly into their lives. Recent research from Nielsen says the majority of purchase decisions are still made in store*, yet more than half of those consumers are using a retailer's mobile app while in store to find coupons and sale items3.
Adopting technologies that can integrate your product with your consumers' digital connections enables experiences that previously just weren't an option. Consider adding a QR code to your product that allows consumers to learn more information, directs them to curated content, or encourages them to promote your product on social media. Further elevate their engagement by incorporating an immersive AR experience.
CPG companies are entering new categories and finding new places on the shelves through brand extensions and M&A activity. As competitions continues to heat up, look for brands to draw inspiration from packaging formats that have long been found in other markets. Does a pet food bag format lend itself to your single-serve pod detergent? Perhaps, not only could it stand out on the shelf, but also give your consumer a sense of familiarity.
This increased competition continues to inspire innovation4. While new product launches are happening at faster, more agile speeds, those new products are going into 7,450 less retail square footage space. Now more than ever, right-sizing your product for the appropriate distribution channel matters.
"Always on" and "always connected" create opportunities for everyday people to share, influence, and converse with the world around them. Social media enables consumers to create a highly curated existence that is uniquely and authentically "them." These consumers are seeking out products and brands with which they can identify as they are seen as an extension of one's self. This creates a unique challenge to a brand owner: finding the balance of maintaining brand identity while also considering how to collaborate with their consumers. Personalization and customization are available at all points in the product's lifecycle from the product itself to its packaging and how it’s distributed and experienced.
By 2050, over 70% of people will live in cities. With the population continuing to shift toward urban areas from rural areas, real estate costs are literally skyrocketing and causing even more competition for space. Dwelling sizes are getting smaller, and retailers are following suit by opening smaller footprint stores and choosing to stock carefully curated products that meet the needs of its neighbors.
Urbanization hints at a broader lifestyle mindset change, not just smaller spaces. Consumers are faced with an experience economy and to an extent, a minimalist existence with the rise of digitalization. Consumers are trading in cars for public transportation, cooking appliances for food delivery apps, and are looking for products with features that save them time and that fit their on-the-go lifestyles. Products that showcase convenient formats, one-handed consumption, smaller sizes, portion control, and re-close options are winning with consumers.
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