Capitalizing on a Burgeoning Gift Economy
China is a country with a deep respect for tradition and etiquette, so the exchange of gifts has long been deeply entrenched in Chinese custom. Across the world, this ritual is an important part of networking. The strong influence of tradition means that Chinese people tend to exchange premium gifts. This is what is driving the prosperity of the gift market and stimulating the emergence of numerous opportunities for gift box packaging companies.
In the 1990s, people paid minimal attention to packaging tea they sent as a gift. They simply wrapped the tea into a square parcel and bound it with hemp rope. Such shabby packaging is not good enough for today’s consumer. Functional factory packaging now only serves as a sub-container in which to initially wrap products.
The old Chinese saying: “Fine feathers make fine birds. Fine packaging makes a fine gift”, clearly illustrates this point. For products to sell well, they need attractive packaging to make them more appealing. Commodity gift boxes are highly popular as: the more attractive the gift box, the more premium its price. Even for common gifts like tea and moon cakes, or high quality farm produce like eggs, dried pork and rice are also packaged in attractive boxes. The products then look more classic and, by extension, become more appealing to customers. Because attractive packaging stimulates sales, multiple varieties of gift box have been developed to meet booming market demand.
According to data from the National Bureau of Statistics, total consumption in China maintained rapid growth in 2010. Popular products helped to raise total retail sale volume to RMB 154.5 million (USD 24.5 million), 18.4 percent higher than in 2009. This huge consumption has had a knock-on effect on the gift packaging market, giving folding carton manufacturers the chance to earn higher profits for re-investment in their own development.
SinoFoldingCarton, is China’s leading trade event for the folding carton industry. Every year, this trade show brings together numerous manufacturers of high-end gift boxes with material suppliers and key buyers. Among this year’s exhibitors will be Japanese company Fuchu Shiko, Dongguan Hongming, Xinhuiyuan, Kangli, Xinwei, Jingang, Jinyada and Lujia. Each company will present its latest gift box processing solutions to thousands of trade visitors.
SinoFoldingCarton 2012 will run from April 11 to April 13 at Guangdong Modern International Exhibition Center in Dongguan. Visitors will be able to assess the latest gift box processing technologies and gain a deeper understanding of the current gift box packaging market on-site.
For more information, please visit www.sino-foldingcarton.com
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