Study: Large percentage of brand owners will spend more on packaging
A full 90% of brand owners say packaging is critical to their brand's success.
Many brands are planning to spend significantly more on packaging in coming months, according to “2019 Brand Owner Packaging Study,” released by L.E.K. Consulting, Boston. In a survey of 250 brand owners across the consumer packaged goods (CPG) spectrum, 75% say they expect to increase packaging spending over the next year. Nearly a third of them will do so by more than 10%. That's a big jump from both 2018 and 2017, when 65% and 40%, respectively, expected to increase spending.
Why the even greater emphasis on packaging? A full 90% of brand owners say packaging is critical to their brand's success – a way to adapt to industry pressures, including fast-changing consumer tastes and preferences.