Businesses have been advised to adopt new trends in packaging if they are to appeal to the 21st-century consumer; whose consumption behaviour has been influenced by technology advancement.
The call was made by Mr Walter Wafula, the business unit head-PR, Brainchild Burson-Marsteller, at the inaugural edition of the Innovation Series at Hotel Africana today.
“A package, just like a brand name, is the face of any product or service. How well it resonates with your customers, is key in influencing them to either buy your product or that of competition. Therefore changing demographics and purchasing behaviours make it crucial for today’s businesses to understand and capitalise on key consumer insights that identify emerging trends,” Wafula told the hundreds of participants that included government technocrats, businessmen, policy makers and the media.
“Millennials hold huge buying power in today’s market and are expected to spend more than $200 billion in 2017 alone. In order to successfully reach Millennials, it’s important for brands to understand what influences their purchasing,” he added.
Innovation Series is a new thought leadership event aimed at promoting Innovation in business and public service. This event is designed to address critical issues that affect the growth of businesses and organization due to the lack of innovation.
Wafula said innovation in business and public service is important today because it’s a source of competitive advantage and growth for not only businesses but economies.
The edition of the Innovation Series aimed at empowering businessmen with better ways of presenting their products to today’s dynamic and demanding consumers, thus the theme - Packaging Products for the 21st Century Consumer.
The multi-faceted, interactive events will bring together business leaders, managers, policy makers, government technocrats and the media under one roof to discuss and demonstrate innovation in business, to drive strategic growth of businesses, and by extension, the economy.
This year, the Global Innovation Index report by the World Intellectual Property Organisation, Cornell University and INSEAD, ranked Uganda number 102, out of 127 countries in the world.
“Through the Innovation Series, brainchild Burson-Marsteller and partners seek to bridge the current innovation gap in the country by inspiring business owners to invent and seek new solutions to their challenges and those of their consumers,” he said.
The panellists included; Uganda Export Promotions Board CEO Elly Twineyo Kamugisha, Jakana Foods Managing Director Meg Hilbert Jaquay, Deputy Executive Director, Standards, UNBS Patricia Bageine Ejalu, and Carolyne Kirabo, the Investment Director East Africa, Yunus Social Business while sessions were moderated by Iga Zinunula, the managing director, IRIS Consulting and Training.
The Innovation Series is supported by Centenary Bank, Riley Media, EasyTicket, and Seamless Events.
