Abstract
As the global product packaging market is predicted to soar to $1.1 trillion in 2024, the challenge for retail marketers is “How I can make my packaging stand out on a retail shelf?” 1 And a related question, relevant for all packaged products, is “Can my packaging help not only increase customer acceptance, but also a customer’s willingness to pay?”, implying that the product can command a premium. Recent research by Lan Anh N. Ton, Rosanna K. Smith, and Julio Sevilla suggests that for most product categories, packaging simplicity enhances a customer’s willingness to pay, as it emphasizes perceptions of quality, purity or other benefits.2 However, the research also uncovered an exception to the rule: consumer-indulgent products. This essay provides cues for marketers, branding managers, market researchers and senior sales managers who want to enhance customer perceptions and improve their price premium.
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