CPGs Focus (Cont’d from Page 1) in the first quarter of 2019, L.E.K. Consulting conduct- ed its second annual Brand Owner Packaging Study with 250 brand owners across the CPG spectrum, in- cluding food, beverage, pet products, healthcare and personal care. The analysis of the study — called Packaging Cuts Through the Clutter — was written by Thilo Henkes and Jeff Cloetingh, Managing Directors, and Amanda Davis Winters, Senior Engagement Manager, in L.E.K. Consulting’s Paper & Packaging practice. The findings underscore the growing significance of packaging:A full 90 percent of brand owners say that packaging is important to their brand’s success. In fact, they rate the importance of packaging at 5.7 out of 7, with 7 being “very important,” up from 5.5 in 2018. Reflecting their belief in the central role of packag- ing, brand owners are planning to open their wallets.
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Three-quarters (75 percent) anticipate an uptick in packaging spend next year — up from 40 percent who predicted an increase in 2017 and 65 percent in 2018. Of those who plan to raise spending, nearly a third (32 percent) expect to do so by more than 10 percent. To get a deeper understanding of the environment in which packaging decisions are made and why brand owners see packaging as a critical element of their brand’s strategy, L.E.K. asked them to choose both the top three growth drivers and top three barriers to their business. Respondents were also asked to peer into the future and say how they believe these drivers will shift and what impact they will have on packag- ing. The study’s findings reveal six consumer trends with particular importance for packaging. 1. Convenience Is King If there is one thing that characterizes today’s con- sumer, particularly the increasingly important millen- nial consumer, it might be the phrase “I want it now.” Brand owners say that over the past two years, de- mand for more convenient and “on the go” products has been a top driver of brand growth. Brand owners in the pet and household categories were significantly more likely than those in beauty and personal care to
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