No matter what type of product you sell, you are most likely always in search of ways to cut costs. With reduced costs, you can either increase your profit margin or lower the price of your product and increase sales by offering a more affordable price than the competition. While some methods of cutting costs will hurt quality, particularly when it comes to packaging that protects your product, this is not always the case. The following methods will reduce your costs but maintain the same high quality standards you strive to keep.
Do Research Ahead Of Time
The average person is in the habit of doing their research before making a large purchase such as a car or home, and business owners should do the same before deciding on their packaging. In either case, this is for the same reason; you want to get the most for your money and be aware of all your options. By doing a bit of research before settling on the company you will use, the materials, or the packaging design, you are increasing your chances of getting the best service and packaging you can afford. This research may also show you a good method for cutting your costs. Perhaps, for example, there is another padding material you haven’t considered using but that is more affordable. You won’t know unless you check.
Determine Unnecessary Costs
The most obvious way to cut costs without sacrificing quality is to take the time to evaluate which things you really need to pay for. For example, do you need to include all the information you have on your box? If not, reducing the printing may reduce your costs. Similarly, limiting the colors that you use or changing to more common ones can sometimes lower costs. A common unnecessary cost many businesses don’t even think about is having an inner carton and an outer carton. While some products do require this extra protection, yours may not.
Reconsider The Dimensions
Another fairly straightforward method of reducing your costs is to see if you can make your package smaller. Smaller packaging will require fewer materials to produce, which in turn lowers your cost. You should consider factors like the size of the product and how the packaging will be stacked in store and during shipping. If you can reduce the size of your product’s packaging even slightly, this can lead to significant savings over time. Changing the shape of packaging for certain products is easier than for others, particularly if your item is a liquid. Current water bottles, for example, hold the same amount that they did years ago but some use 20 percent less plastic than they used to.
Reduce Thickness And Weight
Finally, figure out whether you can reduce the weight of your packaging. Since you will have to ship your product and shipping is determined by weight as well as size, this is another area to save money. In the past, cardboard and other packaging materials had to be thick to maintain their sturdiness, but advances mean that this is no longer the case. Just be sure to put your packaging through testing to ensure it can still withstand shipping.