When we get price quotations for influencer packaging, our first instinct is to assess the price per quantity. That strategy is insufficient in the bespoke PR packaging market. Choosing a vendor simply on price per quantity is risky because there are numerous elements that influence the quality and value contained in a standard price quote. Here are a few key factors we examine when assessing a pricing quote for packaging, particularly when comparing quotes from several providers.
Product Price Per Quantity
This is the most obvious. If you acquire a few additional items, a vendor may offer you a significant price reduction. Make sure to find out where each vendor’s “sweet spot” is. You might be shocked to learn that simply ordering an extra thousand or even a hundred units can result in a significantly lower unit price. And, of course, when comparing various vendors’ quotes, make certain that the quantity they are quoting is the same.
Influencer Packaging Material
A pricing quote should always include the material type, thickness, coloring, coatings, and so on. This is especially true when comparing quotations from different vendors. A lower price may imply that inferior materials are employed. For example, suppose you are looking for a bespoke folding carton and obtain three bids from different vendors; two of the quotes are almost the same price, but one is significantly less. Examine the materials. If you didn’t specify, you’ll often find that one vendor offered a different material since it’s the most widely used material in their plant or they just wanted to be your lowest price.
Printing Methods
If your influencer packaging requires bespoke printing, make sure you understand the type of printing the manufacturer will employ. When comparing price quotes, printing methods drastically alter the pricing structure, yet each printing method has advantages and disadvantages, as well as price fluctuations.
Lead Time
Lead Time is the average projected time it will take the vendor to complete manufacturing; it does not include any proofreading, sampling, or freight time. It only covers “production,” which lasts from the time all proofs are authorized to the day it ships or is ready for pickup. Most price quotes should include a standard lead time, but if not, be sure to inquire. Depending on where the manufacturing takes place, lead times can be several months!
Reputation of the Packaging Manufacturer
Despite the fact that the name of the packaging company is listed on the pricing quote, we do not always know what their reputation is. And we often don’t know how terrific a manufacturer is until we use them. Even the best manufacturers may have a bad day. If I knew a certain company had a good reputation and they were more expensive than another company about which I knew nothing, that would influence my decision. And, depending on the circumstances, I might gladly go with the more expensive company if I felt more confident in their ability to execute a good job.
Valid Date for Quote
The price of raw materials used by packaging makers fluctuates often. For manufacturers, raw materials prices can alter between the time of the quote and the time you actually make a purchase. They often do not apply the updated costs to you unless they reach a certain threshold and are no longer able to bear the cost of the rise.
Price quotes are frequently only valid for 30 days. Don’t be shocked if the unit cost has increased after this period and until you submit your order. Even if you intend to reorder the same package every few months, you may obtain a new price quote that is either higher or lower. So, if you anticipate a high volume of reorders, it may be useful to have a “blanket” purchase order, in which the unit cost is locked in for a set length of time, say a year, and supplies are acquired in bulk and kept exclusively for your orders.
