What’s the Cost of Luxury Packaging?
With all the other costs involved in running a business (product development, payroll, advertising, and so on), it’s tempting to want to skimp on packaging. As long as it protects the product reasonably well, why not get by with commodity packaging?
Luxury custom packaging, on the other hand, is uniquely tailored to fit your product. Some retailers, many in the ecommerce space, have the idea that luxury packaging is just another word for “branded packaging,” but the reality is more complicated than that.
Luxury packaging is more than just sticking on a custom label. It encompasses unique dimensions, materials, shapes, and printing effects. When it’s well done, it can be one of the smartest investments you can make.
Why Luxury Product Packaging?
First impressions create lasting impressions for consumers. Our brains make these impressions in a matter of milliseconds. Once they’ve been formed, it can take a long time to change the perception of a product or brand.
Luxury packaging is a great way to introduce and reinforce your brand while conveying a product of high quality. Over 40 percent of online shoppers said they are more likely to buy from a retailer that offers gift-like, branded, or premium packaging. With 37 percent of shoppers reporting having shared an image of custom packaging on social media, that’s a huge deal.
Major Factors That Influence the Cost of Custom Luxury Packaging
Every custom package is unique. That said, here are the most common factors that determine the cost:
The Product Itself
The most obvious consideration is the product itself. You’ll want to think about size, weight, and support requirements. Wine and spirits bottles, for instance, require sturdier packaging than a small, high-end skincare product.
Luxury packaging can also minimize expenses from product breakage and replacing damaged items. Instead of trying to force a product to fit standardized dimensions, luxury packages are tailored just right, which improves protection.
The more custom packages you need, the better price you’ll receive for your investment . You want to forecast the quantity of packaging you’ll need for your product, so you can avoid ordering smaller, more expensive shipments at a time.
Some of the most popular packaging materials, like corrugated cardboard and plastics, tend to be affordable. But, if you want to convey the image of opulence, substrates like leather, silk, wood veneer, or even canvas can enhance your product in the eyes of the consumer.
Print effects create that “wow” factor that truly separate custom packaging from all the rest.. The more coatings, varnishes, embossing /debossing, and die-cut elements needed, the greater the multi sensory experience.
A Note on Poor Quality Packaging
We’ve already touched on the temptation to skimp on packaging – and the incredible value custom packaging can bring to your brand.
With low-end packaging, the old adage holds true: you get what you pay for. Premium packaging entices consumers, and increases the likliness that they’ll buy your product.
A Value Investment
Luxury packaging holds one of a kind value. It requires more detailed planning and design, but it’s this attention to detail that draws consumers in.
Ultimately, while luxury packaging is more detail oriented, you have to consider it in the context of a value investment. That investment pays off in a first impression that captivates consumers.
Your products are unique. They deserve premium packaging that showcases them in the most attractive way possible. Partnering with the right print and packaging experts will help you make a statement while staying within your cost parameters.