The Flexible Packaging Association (FPA) has released a new Brand Value Study that evaluates the impact of flexible packaging on brand owners.
When asked if they agreed with the statement that “packaging has an influence on my brand’s value”, a surprisingly low percentage (57 percent) of brand owners strongly agreed. It’s even harder to reconcile the fact 20 percent of brand owners reported that they “disagreed” or “strongly disagreed” with the statement. It’s impossible to understand how one-fifth of brand owners feel the packaging of a product does not have an influence on its value — perceived or otherwise — to consumers.
In terms of consumers, it appears that the appeal for flexible packaging lies heavily in convenience. A third of consumers prefer flexible packaging because it is easy to store, offers the ability to reseal and is easy to open. The FBA survey revealed that consumers would happily pay premiums for such convenience.
Flexible packaging’s environmental benefits such as reusability, recyclability and the ability to extend product life were mentioned just less than half the time by consumers. When it comes to flexible packaging, clearly in the eyes of consumers, convenience is king. However, generationally, that appears to be changing as younger survey respondents place a higher value on environmental attributes than do older respondents.
The survey also shows the extent to which packaging catches the attention of consumers. More than 80 percent of consumers said they notice when a product appears in new or different packaging. Forty percent of consumers said they actually buy a product specifically because of new or different packaging.