Emerging trends on display at Esko World 2023

EskoWorld 2023 took place from May 23 to 25 at the Gaylord Palms Resort and Convention Center. Amid the information shared throughout more than 150 educational sessions, seven main themes emerged at the show.

Automation, sustainability and consumer preferences
First and foremost, the trifecta of automation, sustainability and consumer preferences were evident. An overwhelming 73 percent of label and packaging suppliers expressed belief in automation as the key to revolutionizing packaging. Similarly, 71 percent of consumers and nearly 90 percent of brands recognized the importance of sustainable packaging. Consumers’ willingness to pay a premium for environmentally friendly packaging indicates a major shift towards eco-consciousness across the industry.

A key statistic revealed at Esko World showed 58 percent of brand owners surveyed believe packaging waste, plastic regulations and environmental claims will make the most impact on packaging and labeling companies in 2023.

As the printing and packaging world veers toward a more sustainable future, emerging technologies and consumer behaviors will be the driving forces to moving the needle. Noting that, the second takeaway cements technology and the cloud as indispensable allies in the industry.

The convergence of technology and packaging is apparent, as 48 percent of brand owners are turning to cloud systems to minimize costs and stay competitive in this cutthroat market.

Brands to go digital
Moreover, the importance of the unboxing experience and digital twin technology emerged. As online shopping continues to dominate retail, the act of unboxing has become a trend. It is reported that 62 percent of consumers who watch unboxing videos plan to purchase the product, signaling a massive opportunity for brands. In line with that, the advent of ‘digital twin technology’ aims to bridge the gap between digital and physical product representations, ensuring consumers’ online and offline experiences align seamlessly.

Esko’s session on its Store Visualizer tool aimed to help bridge that digital gap, as well. The virtual reality tool allows customers to virtually enter a retail environment, test the visual impact of its designs and determine the best shelf placement from various vantage points. The tool uses VR and eye-tracking technology to record a research participant’s journey in the virtual store, and heat maps to help identify the areas where the participant has gazed at a brand’s product packaging. This information helps brands determine if their packaging is effective at leading to a purchase.

Personalization gaining ground
Another key takeaway was the emphasis on personalization. A NerdWallet survey showed 37 percent of Americans say they purchase from small businesses to receive a more personal experience. Meanwhile, Mintel suggests that in the next half-decade, brands will focus on their dedicated customer base’s unique characteristics. Rather than big-name brands trying to appeal to everyone, they’ll likely break into smaller, more specific segments that cater to their customers’ individual tastes and needs.

Consumers want to shop local, vintage
More consumers are showing their support for small businesses, and making deliberate choices over hasty ones. Companies that succeed in highlighting their roots and sustainability efforts are likely to gain a competitive edge. According to the NerdWallet survey, about a third of shoppers are ready to spend more money to shop locally. The same percentage is also patient enough to endure longer wait times at smaller establishments as compared to big box stores or chains.

Finally, on a lighter note, retro and vintage packaging has made a comeback. Packaging designs that evoke nostalgia and transport consumers back to simpler times are gaining immense popularity. Retro designs now captivate consumers, reinforcing a brand’s longevity and commitment to tradition.

Overall, Esko World focused on addressing the pressing challenges that businesses currently face and strategizing for future obstacles. On top of these key takeaway themes, other challenges facing business owners today include the energy crisis, material shortages, labor and skills deficits and eroding profit margins.

Melissa Plemen, senior director of inside sales and marketing at Esko says: ‘Visitors to EskoWorld were not just attending, but were actively engaging in lively discussions on how their own businesses can and must evolve – and how advances in technology can make
that happen.’

For a video recapping our trip to EskoWorld 2023,
visit: https://bit.ly/3NQoCKO