The importance of packaging in the cannabis industry
The cannabis industry, being among the most swiftly growing and regulated sectors, offers significant opportunities. Brands have been transitioning from a black-market-style branding to refined marketing strategies.
However, amidst the strategic chaos, the importance of product packaging is often downplayed. It silently urges customers to purchase, presenting the cost, value, benefits, and brand identity. In fact, according to a 2018 Ipsos survey, 72% of US consumers claim packaging design influences their buying decision. The survey says that the following demographics are far more likely to report that their buying decisions often take into account both the packaging design and materials:
- Young adults 18-34
- Individuals with higher levels of education
- Those earning $50,000 or more per year
Despite different packaging and labeling rules across states, professional packaging can provide a competitive advantage. Consistency is vital – from the brand-specific fonts, images, and colors to the innovative design and material of the container itself. Being innovative and incorporating your core values and brand stories in your packaging can significantly impact customer satisfaction and loyalty. Additionally, a commitment to eco-friendly packaging resonates with the sustainability-conscious consumers of today.
With cannabis remaining a Schedule 1 drug federally, its regulation, even in legal states, is stringent. Regulations cover various aspects, from acceptable cannabis terms to company contact details. These rules are essential to deter counterfeit products and illicit market sellers.
Therefore, brands need to adhere to these regulations and strive for more than the bare minimum to stand out in this competitive market. So, next time, while strategizing, don’t overlook the packaging design process. Ensure regulatory compliance, consistency in visual design, innovative thinking, and incorporate sustainability.
