Lopez urges MSMEs to upgrade packaging to improve product sales
By Richmond Mercurio (The Philippine Star) | Updated January 5, 2017 – 12:00am
http://www.philstar.com/business/2017/01/05/1659615/lopez-urges-msmes-upgrade-packaging-improve-product-sales
MANILA, Philippines – Trade Secretary Ramon Lopez is urging micro, small and medium enterprises (MSMEs) to shell out more money for packaging to improve the saleability of their products.
“It is all about the packaging. The packaging is your communication and the point of sale. That will be the one that will talk to the consumers as to why they should choose your product over the others,” Lopez said.
The trade chief said local MSMEs should learn from the way products in countries like Thailand, Singapore and Malaysia are being packaged and labeled.
According to Lopez, some of the country’s well-loved MSME products are still packaged today as it was a couple of decades ago.
“MSMEs right now should have that modern appeal. It’s not enough that the products are wrapped in plastic. People will not mind paying more, even if you add the cost of your packaging, as long as they see that the product is appealing,” he said.
UK-based market intelligence agency Mintel said in its “Global Packaging Trends 2017” study that consumers are looking for unique packaging structures that not only differentiate a product on the shelf, but also helps form and support brand identity.
It further said packaging is increasingly becoming a key component in creating memorable consumer experience, building on the concepts of fun, community, or authenticity to motivate purchase.
“The majority of consumers are paying attention to package format and design, and purchase drivers are either being directly related to or being communicated through packaging,” the report said.
For this year, the Department of Trade and Industry (DTI) has vowed to further enhance government support for the development of MSMEs.
