Luxury and specialty packaging is the design, research, development, and manufacturing of packaging, displays, and for luxury brands. The packaging of a luxury product is part of the brand’s image and research shows consumers are willing to spend more on products if the packaging looks appealing and luxurious.[1]
As well as adding to the value of the product, luxury packaging fulfils various other roles; it enhances the image of the brand, increases consumer engagement through personalised packaging, performs a function, creates appeal and diversifies the product.[2]
Globally, the luxury packaging market continues to grow, driven by global trends of personalised packaging, attention to sustainability issues, and economic and demographic drivers. The luxury packaging market is forecast to grow by 4.4% to 2019, reaching $17.6 billion, and consumption will reach 9.9 billion tons with growth of 3.1%.[3]
- ^ Okonkwo, Uché (2007). Luxury Fashion Branding: Trends, Tactics, Techniques. Palgrave Macmillan. ISBN 978-0230590885. Retrieved 2015-01-08.
- ^ Bergman, Robert (2011-12-12). "A New Year: A New Definition Of Luxury". Branding Magazine. Retrieved 2015-01-08.
- ^ "The Future of Luxury Packaging to 2019". Smithers Pira. Retrieved 2015-01-08.