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Report: Six Consumer Packaging Trends for 2023

The economy, women's rights, and the emergence of Gen Z should influence packaging decisions in 2023.

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With 2023 fully in gear, Euromonitor International released its Top Ten Consumer Trends for 2023. Always a factor in packaging, in recent years, consumer buying habits have taken the first chair regarding how CPGs and retailers operate. Six of the trends impact the world of packaging, and as you’ll read, some could shake up entire product lines.

Authentic automation

Buying power is getting younger, with the dominant demographic now Millennials and 65 percent of the U.S. population falling between 15-64. Most consumers accept and embrace automation as part of their everyday life. Machines make convenience and speed possible, but don't underestimate the power of emotional connections. Consumers want to interact with humans and machines for different reasons and at specific points in the path to purchase. CPGs must focus on improving the buyer’s journey, offering curated packages that reflect customers’ preferences. For OEMs, that means CPGs require investment in automation to reduce costs, optimize operations and maximize efficiencies. 

Budgeteers

Breaking news: Economic shocks, record-high inflation, and supply shortages continue to drive up the cost of living. The “when to spend vs. when to save” is a dilemma facing most consumers, often pushing brand loyalty aside. Private-label and “store-brand” products will rise in use, stealing market share from traditional category leaders.

In 2022, the number one reason buyers shopped online was overwhelming to get the best price. E-commerce continues to grow even more, with consumers turning to online shopping to reduce personal transportation expenses. CPGs also feel the pinch as shrinking profit margins lead to SKU rationalization, updated pricing strategies, and supply chain optimization. CPGs will seek new formulations of product bundles and direct-to-consumer models to help deliver savings while retaining customers.

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