Luxury packaging. For too long, it’s been out of the reach of many brands. But the reality is very different. Not only is luxury packaging more accessible than ever, but it can make a significant difference to your bottom line. Keep reading to find out how…
What is luxury packaging?
Luxury packaging – as the name suggests – is packaging that has been researched, designed, and manufactured to convey a feel and sense of luxuriousness upon a product (and the brand providing that product).
This type of packaging uses premium materials and finishes that are rarely, if ever, found in standard packaging. These materials include luxury board, sleek foiling, embossed logos, spot UV finishes and more.
These materials are combined into a design which distinguishes the packaging from run-of-the-mill packaging.
Why is luxury packaging important?
As brands like Apple have quickly realised, packaging is a crucial element in creating and sustaining a premium, luxury brand.
Packaging has a significant impact upon product, and brand, perception. Reams of research shows that consumers are willing to spend more on products if the packaging looks luxurious.
Aside from having this ‘shelf appeal’, luxury packaging also plays two other significant roles; it provides protection and security to the product contained within, and it also acts as an identifier. Think again of Apple – the brand’s pure white packaging is immediately recognisable.
So, luxury packaging matters. Especially if you’re building a luxury brand.
How luxury packaging can boost your product sales
Okay, so now you hopefully have a clearer idea of what luxury packaging is, and why it’s important.
But, is it the right packaging option for your brand? As we’re about to demonstrate, if you’re looking to build a luxury brand and improve your product sales, then the answer is almost certainly yes.
Luxury packaging can influence your pricing
One of the most overlooked points about luxury packaging is that it can not only increase your product sales, but can also help you charge more for each individual product – thus boosting your profitability.
As Uche Okonkwo described in their book Luxury Fashion Branding: Trends, Tactics, Techniques, consumers are willing to spend more on products that are contained within luxury packaging.
Therefore, whilst luxury packaging may require more of an investment than standard packaging, you can reap the significant benefit of being able to price your products at a higher price point.
Luxury packaging can differentiate your brand
These days, the majority of retail verticals are highly commodified – meaning there isn’t a huge amount of difference between one product and another.
Luxury packaging can help you differentiate from competitors. This is particularly important if your products aren’t hugely different from others on the market, and you’re looking for a cost-effective way of standing out.
Luxury packaging can help retain customers
Competition for repeat custom is fiercer than ever. Luxury packaging can help you win this fight and retain more of your customers.
How? Well, research shows that customers that receive products in luxury packaging are 52% more likely to purchase something from that brand again.
Luxury packaging can lead to secondary marketing
Have you watched something on YouTube during the past week? The chances are you answered ‘yes’.
In that case, you’ll no doubt be familiar with the phenomenon of ‘unboxing videos’, whereby consumers film themselves opening their purchases.
If your packaging is of sufficient quality – and provides a wonderful sensory experience – then it can lead to just these sorts of secondary marketing opportunities, where consumers film themselves opening their purchase, or post images or short clips of the packaging on Instagram or TikTok.
In essence, by using luxury packaging, you can open up free marketing opportunities for your brand – potentially gaining exposure worldwide.
Luxury packaging can be a product in its own right
Hit the sweet spot with your luxury packaging – using the very best materials, design, box shape and colours – and you can find that your packaging becomes a sought-after product in its own right!
Perhaps the best example of this is Hermes of Paris, the luxury fashion wear brand for men and women.
The brand’s iconic orange boxes have become sought-after products in their own right – with a thriving market for them existing on online marketplaces like eBay.
Even more impressive are the much sought after boxes which are used to package Patek Philippe watches, which regularly change hands for thousands of pounds.
As you can see, luxury packaging can be that important to the appeal of a brand.
Luxury packaging protects your products
When someone is willing to spend a considerable sum of money on a product, they’re going to expect it to turn up in premium packaging.
Remember – first impressions count – so you’re going to want your packaging to reflect the luxurious, premium nature of your product.
Luxury packaging uses premium materials, meaning that this type of packaging can be far more robust than cheaper packaging – acting as an excellent ‘first line of defence’ against any knocks or drops that may occur during transit.
Luxury packaging increases product security
Just as luxury packaging can provide more protection to your products, it can also provide more security. This especially true if the packaging consists of strong, tamper resistant luxury board, robust box construction and more.
Because of this, luxury packaging can provide better product security, reducing tampering, shrinkage and loss (which is especially important if your products are going to be sitting on a shelf in a brick and mortar retail store).
Luxury packaging increases your brand appeal – and sales
Finally, and most importantly, luxury packaging can increase your brand’s appeal – resulting in far more sales.
Think of it from your own perspective…
Are you going to choose that beautifully packaged product, or the one that comes in a plain old boring box (especially if the product is a high ticket item)?
Make your packaging as attractive as your product (if not more so!), then you’ll be on track to achieve sales success.
Step up your packaging game with Prest Group
Is it time to refresh your product packaging and add a touch of luxury? Then speak to the Prest Group today.
We are a high-end printed packaging service, that specialises in creating luxury packaging for a range of industries.
Our multifaceted service covers everything required to create head-turning packaging that’ll make your product truly stand out from the rest.