Summary
In this episode, Evan J. Cholfin interviews Michael E. Salemi, COO of The Packaging Company, discussing the evolution of custom packaging solutions, the unique approach to premium packaging, and the challenges faced by cosmetic brands. Michael shares insights on sustainability trends, employee retention, and the importance of perceived value in packaging. The conversation also covers the company's growth targets, technical innovations, and the future of the packaging industry.
Takeaways
The Packaging Company focuses on helping customers become viable in the industry.
Their approach emphasizes service over sales, ensuring customer needs are met.
Sustainability is a key trend, with a shift towards mono materials and refillable options.
The company has patents for child-resistant medical products, showcasing their innovation.
Employee retention is a challenge due to high turnover rates in California.
Navigating tariffs and supply chain issues is crucial for maintaining business.
The demand for eco-friendly packaging is growing, with a focus on glass and tin.
Perceived value plays a significant role in consumer purchasing decisions.
The company aims for continuous innovation to stay ahead in the market.
Building relationships with medium-sized brands is preferred over large corporations.
Soundbites
"We have zero defects in our airless line."
"People buy on perceived value."
"We just gotta learn to hang out there."
Chapters
00:00 The Evolution of Custom Packaging
03:09 Unique Approaches to Premium Packaging
04:02 Challenges in Cosmetic Packaging
06:59 Impact of Tariffs on Packaging Solutions
08:50 Technical Innovations in Packaging
10:00 Navigating Manufacturing Realities
12:16 Employee Retention Challenges
13:20 Sustainability in Packaging
14:13 Supply Chain Management
17:09 Growth Targets in Premium Packaging
19:07 Building Relationships with Luxury Brands
20:53 Opportunities for Brand Outreach
22:32 Exciting Trends in Premium Packaging
23:06 Preparing for Industry Changes
26:01 Looking Ahead: Success in the Coming Year
Video
https://youtu.be/Ed5yLvGTJis
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