How the Pandemic is Affecting Businesses and the Packaging Industry in 2020

How the Pandemic is Affecting Businesses and the Packaging Industry in 2020

by admin

Posted: July 09, 2020

Ever since the World Health Organization declared COVID-19 a pandemic, the world has gone into a hibernation mode. It is an uncertain time with lots of unknown and new challenges. Nobody was prepared for any uncertainty like this. This pandemic has affected the whole economy, the business, small or big, because the market strategies were different for the year.

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As a result, people are trying to figure out new ways to run their business, but it is taking more time than anticipated. Making new strategies for business & economy is a struggle that will go a long way.

Let’s take a look at how this pandemic has affected the business market.

·         Impact on Small Businesses

A report by McKinsey suggests small businesses account for a rough 48% of the US economy and employ an estimated 60 million people in the US. Most small businesses lack the cash reserves to weather a month-long interruption.

Reports indicate more than two million workers could lose their jobs in just one week as a result of the coronavirus pandemic. There is also a chance of a “startup depression,” where new companies don’t enter the job market because of the pandemic.

An Analogy:

Small businesses are like toddlers to business owners. They take care of it, invest their savings into it, put their time into it, plan new strategies, and expect to reap benefits in the long run. The pandemic has turned everything upside down. Most businesses have shut down due to the failure in market conditions. And those who are in running position face a lot of difficulties.

Not a Big Issue, humph!

Small businesses, these days, are usually run by a single business owner. They don’t have bigger teams or many employees, so they don’t have to bear the bigger loss as compared to big businesses. They don’t have to pay a large number of people. So they don’t have to worry about this, nor they have to bear a plethora of hefty expenses.

For these small businesses, it will take some time for them to stand on their own if and only if they don’t lose hope and work smartly. They are learning from experienced people and research on the internet about business strategies. 

·         Impact on Big-Scale Businesses

It takes so many years and hard work to take the business to a high peak, and the current pandemic is currently toying with those businesses. CNBC has reported that large retailers and companies such as Nike and Apple have been anxious about their sales due to COVID-19.

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FILE – In this March 22, 2017, file photo, the Nike logo appears above the post where it trades on the floor of the New York Stock Exchange. Nike lost $790 million in the fourth quarter, as soaring digital sales couldn’t make up for the loss of revenue from shuttered stores in most of the world. The world’s largest sports apparel maker said Thursday, June 25, 2020, that its revenue fell 38% to $6.3 billion in the three-month period ending May 31. (AP Photo/Richard Drew, File)

Big scale businesses have a big PR team, and it depends on what kind of business it is. Usually, big scale business depends on small scale business. They have a bigger number of employees to pay. And due to this pandemic, they are all in a pause situation as everything has come to a halt. No amount of profit or capital is being raised, hence failing to bring benefits.

With much to say about the pandemic affecting businesses and the packaging industry, how can we eradicate these issues and help packaging businesses? The answer is simple, to reinvent old techniques, i.e., product packaging. Before delving into the details, let’s talk about why product packaging is important.

Here’s Why Your Product Needs Custom Packaging

When we talk about custom packaging, the first thing to know is what it means. For starters, anything that is “custom made” is leagues ahead of standard products as it has been tailored to the users’ needs. With a custom product, you can specify not only the dimensions but also the color, theme, design, purpose, and functionality, and that is what makes the product stand out from the rest.

Let’s dive a little deeper into how your business can benefit from customized packaging.

·         Individuality

It is a known fact that human beings are very visual creatures; our decision-making skills are highly dependent on what we see, especially when it comes to choosing between objects. Even the most excellent products get left behind in the competition simply because they come in a generic box.

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Give the same product a touch of color, your logo, and a personality, and you’ll begin to see an increase in the number of interest people show in your product. It is important to understand that while your product may be flawless, the first thing that your customer will see is the packaging it comes in, and that is your chance to make them fall in love with it at first sight.

·         Product Protection

We know how hard you’ve worked to perfect your product, and we want to make sure that it reaches your customers safely. The last thing that you want is your product getting damaged during the shipping process, resulting in unhappy customer experience. Custom packaging allows you to alter the box to your specific needs. A perfect box with the right fit and padding goes a long way.

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·         Boost Your Marketing

Not only will your product garner more attention, but it can also be used as a marketing tactic. A very good example would be Coca Cola’s “Share a Coke” campaign, wherein they printed common names, even nicknames, in certain regions on the bottle to replace their logo.

Since the consumer market recognizes the company’s aesthetics and design, they knew it was the same product, but sales shot upwards as people felt a connection between them and the product.

·         Better Customer Experience

As mentioned before, better packaging leads to better customer experience. Packaging helps brands maintain a connection with their consumer base and tailors the product to make it feel more personalized.

People tend to go back to what they know they can rely on, and if your business ensures that the product reaching the customer is up to standards, there’s a stronger chance of repeating customers, and it also increases brand value.

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Furthermore, if you are about to launch a new product, worry not! We will tell you what is in trend and what needs to be done.

·         Custom Printed Retail Packaging

Be it any product, whether wholesale or retail; it requires beautiful packaging. From a frail product that requires sturdy packaging to a luxury product that requires rigidity, retail packaging will never go out of style.

·         Printing and Packaging Boxes

Other than the packaging, printing is a trait that will never outdate. If you are opting for printing services to give a boost to your product, you are in the right direction. Printing gives a tactile appeal to your product, hence resulting in achieving big sales for your product.

It is a proven fact that your product will fail to get more sales if it dulls in design. To fetch a myriad of sales, opt for packaging that is minimal in design and appeals to the eye.

·         Custom Cosmetic Boxes

Are you looking to try your luck in the cosmetic business? Well, you are in luck. As of January 2020, the United States has the following statistics to share:

  • North America shares 24% of the cosmetics market worldwide.
    • The United States shares 40% of the cosmetic market worldwide.
    • The forecasted value of skincare products is 145.2 USD.

Source: Statista, Cosmetics Industry – Statistics & Facts

With these mind-blowing stats, facts, and figures, the future is all set and secure for the cosmetic industry. So, if you have your mind set up, go for it.

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·         Custom Display Boxes

Another trend you can follow for your product to showcase its class is through custom display boxes. Imagine yourself in a scenario where you are walking down your favorite supermarket’s aisle, and you come across a product that’s not on your list, but you still put it in your basket. Why?

The packaging and its display.

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·         Custom Food Boxes

If you are in the food business or if you are trying to be in one, custom food packaging is the way to go. If you monitor the big brands such as KFC, they market their products through yummy-looking packaging and printing.

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Other than their good food pictures on the box, they also implement logos to market their brand. The key to successful packaging is not only showcasing a brilliant design but also using it as a tool to market one’s brand.

·         Ecofriendly Boxes Packaging

To promote a green and eco-friendly environment, Kraft paper should be used to equip the power of packaging fully. It does not only warrants the safety of the environment, but it also brings a sense of responsibility to the citizens. Since the Kraft paper is already recycled, it cannot harm the environment in any way. When you throw it away in the streets or water, it will dissolve itself.

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·         Custom Medicine Boxes

Amid the pandemic outbreak, one of the most crucial, yet oddly satisfying, marketing technique is to cash in on occasion to provide budget-friendly medicine boxes. It will not only elevate your brand but also put your customers’ trust in your company for the foreseeable future.

·         Custom Vape Cartridge Boxes

Being a quasi-legal product in the United States, CBD and vape go hand in hand with one another. The emerging CBD market proves a testimony of the fact that custom vape cartridge boxes will play a vital role in the coming years. So, while you are at it, get your premium products within no numbered days at your closest packaging company.

·         Custom Candle Boxes

Be it a normal candle or a scented candle; it will require packaging one way or another. So, if you are torn between choosing either, go for both because they will reap benefits. The candle boxes have been in trend with other standard packaging boxes, and that is something that will never go out of style.

·         Custom CBD Boxes

A product as delicate and premium as CBD requires packaging that delivers perfection. It is not a product that can be used daily by every person. To obtain custom CBD boxes, the right information should be printed on the box. Above all, the color and gradients should be well-balanced to evade a cliché touch. You can also use paper bags for them.

·         Custom Mailer Boxes

If you want to deliver a product to your loved one or if you want your product to give itself a luxurious touch, mailer boxes are here at your disposal. Mailer packaging boxes have been advertising themselves for a well-known period, and they have been extending their services since the advent of packaging. You are always safe and secure with this option.

·         Custom Rigid Boxes Wholesale

Rigid boxes give a luxurious touch to your boxes and give rigidness to the content of the product. If you are in dire need to give your product an elegant look with the durability intact, rigid boxes should be your go-to option.

·         Custom Printed Sleeve Boxes

To slide your product in and out of the box like a magic trick, sleeve boxes will do it and bring the magic to life. By combining some of the most intricate design techniques, you can let your product hover on top through a decent sleeve box.

·         Custom Soap Boxes

If you are stuck in the constant and same loop of unhealthy packaging, it is time to switch. By choosing a high-quality soap box, your customers will gain confidence in your products, hence allowing a margin for hefty sales.

·         Custom Bath Bomb Boxes

If you are weighing to pull the trigger in the cosmetic business, bath bomb boxes should be your ultimate option.They are not only in trend, but they also sell in a high number as compared to other packaging products.

These are just some of the many ways in which your brand can benefit from customized packaging. In summation, if you’re a business owner looking to spruce up your products and give them a whole new makeover, custom packaging is going to be your best friend.

Rather than just giving your products the protection they need, custom packaging helps you build a connection with your customers and an overall better user experience.

Looking for Something Outside the box?

For custom projects of large quantity of Custom Boxes or Custom Printed Boxes, Dodo Packaging is offering die cuts, litho, special finishes, additional styles and more.

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