Don't Let Shrinkflation Hurt Your Customer Experience
Shrinkflation or Skimpflation can hurt CPG brands more than help. In fact, 62% of consumers say they would stop buying from brands that skimp on quality to save on cash. A downturn in the economy can make even loyal customers fickle. When inflation begins to rise, it’s not just consumers that feel the pinch. CPG brands can face some tough decisions to keep their COGS from blowing up with it.
So, how do you save money without decreasing your product’s quality? Cut the right corners.
Here are 3 ways you can reimagine your packaging design to save on costs and provide exceptional customer experiences.
Double Duty
Reducing your packaging SKUs is an easy way to save on costs. 2 in 1 designs allow you to increase your overall order volume and lower your unit cost. Plus, a versatile structure allows you to reallocate inventory to accommodate changes in sales.
We helped Alice Mushrooms design a double duty insert for 1pk and 2pk kits. The insert tidily nestles a single tin on one side, and with a quick flip, you can pack 2 on the opposite side.
Consolidating packaging SKUs can also help out your procurement team. You can reallocate inventory to accommodate changes in sales projections.
Minimize Cost - Maximize Branding
Making the switch from full coverage digital print to 1-color flexo can create significant cost savings. But, it doesn’t have to be a downgrade!
Aplos’ art team created an elegant and impactful design with a touch of magic.
Simple, sophisticated branding is a hallmark of luxury brands. Big players in the space are condensing their branding in favor of streamlined and refined imagery. Don’t worry, it’s not trend chasing. Creating a more succinct branding experience is an evolutionary step for many brands.
Shrink Your Packaging - Not Your Quality
Don’t leave extra room for improvement. If your packaging has extra room for branding moments, was based on a stock size that was almost just right, or simply never optimized to your product, a structural redesign could help you save big.
We resized MMMLY’s outer cartons to cut material costs significantly. It’s not only a thrifty solution, reducing material usage also shrinks your brand’s carbon foot print.
We Can Help!
If you’re looking for ways to reduce your COGS without damaging your customer experience, our team can help. Whether you want to make a few tweaks, overhaul your packaging solutions, or just looking for some expert insight, we’ve got you covered!
