Commercial Director for DuckerFrontier’s Industrial practice, Dan Ward will be attending WestPack 2020, the West Coast’s largest packaging trade show on February 11-13, 2020. Dan will be on-site following some of the latest key trends driving innovation and growth within the packaging industry. Below are several key areas that we will be monitoring to help provide the insights executives need to execute on successful strategies within the packaging industry:
- Industry 4.0 – The impact of technology within the packaging segment has been heavily influenced by online connectivity, virtual diagnostics, and the drive to produce equipment with servicing capabilities highly valued by equipment consumers. Manufacturers are achieving margin improvements, lower maintenance costs, and reduced production down-time as they continue to incorporate changes brought upon by advances in monitoring technology. Producers also continue to drive capabilities of predictive maintenance as sensor development and tracking platforms continue to evolve and are adopted throughout every stage of the packaging line.
- eCommerce Packaging Evolution – Likely the single most influential platform in the modern consumer market is the impact of online purchasing trends in the e-commerce sector. Growing internet retail sales and consumer purchasing habits are changing the historical methods retailers use to ship goods to the consumer. Lightweighting, packaging size and shapes, and protection of products coupled with constantly changing marketing campaigns are critical factors driving trends in this subsegment.
- Sustainability and Environmentally Friendly Packaging Materials – The once valued “throwaway society” established many decades ago has long become the largest challenge for the packaging materials industry. The blight of landfills marking landscapes and largely negative impacts on our environment have driven consumer trends to adopt purchasing habits supporting environmentally friendly and sustainable materials. The correlation between strong economic factors globally and increasing consumer purchasing continues to put a strain on the industry but presents many opportunities for business strategies focused on developing products that reduce their overall impact on the environment.
DuckerFrontier’s Industrials experts are at the forefront of key trends impacting the industry. Our goal is to help clients deliver growth solutions to support critical decisions and growth strategies. How can we help you deliver better outcomes for your business? Contact us to connect with a team member.