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If you are a business owner, you very likely know that keeping your costs low is essential for financial stability and growth. And with growing economic uncertainty becoming more common across the globe, there is no better time to embrace a robust fiscal mindset than now.
Yet while many businesses consider economizing on product materials or labor management, one often forgotten alternative is trying to save on how your product is packaged. This is because knowing how to make your packaging budget as efficient as possible is not an easy task, especially if you need it to ensure a safe delivery of your products.
Fortunately, packaging expenses can be made more efficient if done in a smart and measured way. In this article, we have identified six methods that can help your business safely reduce packaging costs without jeopardizing your product’s quality nor your customer’s experience. Read on to find out more!
The first step to keeping packaging costs low is to be mindful of the size of your packages. Not only does reducing the size of your packages lower the quantity of materials you will need, but it can also help lower the weight and size of your packaging, particularly useful if your courier uses dimensional weight shipping.
In some certain cases, packages simply cannot be made any smaller, especially if they are already snugly fit around your product. That said, there are a surprising number of instances where a package could be made smaller and therefore more economical.
Consider the following tips that can help you downsize your packaging:
As well as changing how you ship your items, you can also reassess your choice of packaging supplier. If you are interested in looking for a new supplier, consider researching what incentives they are able to offer you.
The most common incentives to switch suppliers include cheaper prices for the same type of packaging material or a better rate for bulk purchases, allowing you to capitalize on economies of scale. But remember, while cheaper materials can provide a temporary fix for your budgetary needs, they can be short-lived and may change.
Ultimately, the most valuable incentive a packaging supplier can demonstrate is a dedication to innovation. As many market leaders know, innovation is a powerful driver for better efficiency, and therefore lower costs. Conducting a thorough review of the packaging market can help you identify the best packaging suppliers that closely align with not only your budget, but also with your long-term business goals.
Here at Crownhill Packaging for example, we offer a wide range of innovative packaging products and processes for our clients, including on-demand packaging. Our work to drive innovation in the packaging industry has not gone unnoticed, as our latest achievements and awards demonstrate.
If you have limited experience with packaging materials, it can be very easy to go overboard with the wrong materials. Strike the right balance by prioritizing and optimizing what packaging materials you use.
As a starting point, reassess what type of void fill you use to cushion your products based on how you use it and when it is needed. There is a good chance that you can optimize your package with a different type of void fill. For instance, you might find using crinkled paper to be a more affordable replacement to custom foam or plastic inserts, especially if your product is fairly robust and can withstand minor knocks.
When replacing any packaging material, be sure to consult a packaging expert or company who can help you optimize your packages. Saving on packaging is definitely important, but it will only be effective if it meets the level of your protection your product needs. In fact, downgrading materials could have negative consequences on your buyer’s experience if the product’s package is more susceptible to damage, ultimately harming your finances.
Are you packing highly fragile items? Downsizing or cutting down on void fill may not be the best option for you. However, you can still save money by making sure your fragile items are packaged efficiently and effectively. Learn how to package fragile items here.
Making a business and its operations more environmentally friendly has long been seen as an ambitious but expensive decision. As a result, many owners are hesitant to transition to a greener model because they worry it will affect their bottom line.
But the reality is that going green is becoming more affordable each day, especially where packaging is concerned. Compostable packaging peanuts are just one example of this. Being made from natural corn and vegetable starches, this void fill can be manufactured locally and sold at an affordable, consistent pricing. Compare this to the traditional packaging peanut made from polystyrene, which is not only toxic to the environment but is also becoming increasingly expensive due to the volatile price of oil needed to produce and manufacture it.
Opting for compostable or recyclable packaging reduces your business’ dependence on non-renewable materials and could consequently keep costs low for both the short and long-term future.
As well as reducing the package itself, you can also consider adjusting your printing budget and expenses. There are many ways to do this, including finding cheaper ink supplies, reducing the amount of ink needed on a package, or adopting digital printing technologies to make your printing materials do more with less.
When evaluating how to adjust your printing expenses, it is a wise idea to work alongside a packaging consultant or company. This is because they can not only source the right solutions for you, but they also know what works best for your type of product and its consumer, potentially helping you from making any unnecessary or costly missteps.
Securing a successful dispatch and delivery of your product is critical for quality customer service and therefore your revenue.
Overpackaging is common when sellers are not familiar with efficient packaging practices. They may be concerned about their products’ security during shipping and wrap layers and layers of tape around a box filled with void fill. Others might add some excessive decorative frills, like decorative tape, which may not be necessary or could be made optional to the customer during the checkout.
Due to the unique nature of your product, business and industry, there is no one-size-fits-all approach to reducing your packaging. Consulting an experienced packaging company or expert is an excellent way to ensure your packaging expenses are efficiently managed. A good packaging consultant should be able to not only advise you on how to cut down on unnecessary packaging, but also introduce you to the very latest packaging technologies and systems that can reduce your packaging costs for the long term.
Evolving your packaging strategy is a big undertaking but, with the right assistance, it can reap significant benefits for your products, your buyers and most importantly, your bottom line.
If you are looking for packaging solutions that are both affordable and innovative, contact Crownhill Packaging today. We believe in the power of innovation and its ability to benefit our clients, particularly when it comes to making packaging cost-effective, efficient and environmentally responsible.
To learn more about our range of packaging products and solutions, get in touch with our team today.