Packaging in times of recession
2020 has seen a turbulent economy, with some sectors winning considerable new business and other sectors losing out.
'Regardless of what's happening to the economy so far in 2020, online spending has increased and presumedly will stay that way. Brands appreciate the increase in online shopping when other options are still questionable. Still, many brands are feeling a disconnect from their customers who are only enjoying a brand experience through the website interface. Extending the online branding experience to delivery and unboxing will likely be a priority. Printers and converters that can offer fixed solutions for folding carton, shipping, and subscription boxes may well see increased demand. This is good news for supply chain partners that offer litho lamination solutions,' explains Wendy Cross, New Business Development Director, AR Metallizing.
'During a recession, consumers set stricter priorities and reduce their unnecessary spending.
The slam-on-the-brakes segment of consumers are more likely to swap out brands that they have been loyal to for a while in search of alternatives. Any time we see large numbers of consumers looking to consider new products and new brands, we do see valuable opportunities for brands that are positioned to capitalize on them,' says Rosa Lin, Sales Manager, AR Metallizing.
'In this respect, opportunity remains for brands to gain new market share through their packaging. Especially in beauty and cosmetics where packaging is utilized to communicate with their clients. Brand owners utilize packaging to show they use high quality ingredients or commitments to their consumers. Symbols are utilized to validate that products are produced cruelty free or contain sustainable packaging. Great packaging will persuade consumers to purchase if the design and look speak to them and reinforce the idea of a quality product,' says Lindsey Barbee, National Account Manager, AR Metallizing.