Fishwife isn’t a tinned fish company. It’s a packaging company.
That’s not necessarily a bad thing.
Tinned fish purveyor Fishwife has done an incredible job with their branding and packaging. It’s fun. It’s distinctive. It feels true to the category while also fresh and premium.
Unfortunately, their products are also horrifically overpriced. On the Fishwife website, you can pay $32 plus $9.50 shipping and $3.69 tax for 3 tins of sardines. I have no doubt the quality of the sardines is incredible. But is it $45-for-sardines incredible?
This isn’t a fish company. It’s a packaging company. And it’s not the only one.
There are hundreds of chocolate brands that charge a multiple versus competitors via standout packaging and storytelling. Fragrances, too. And candles. So many candles. Sure, Diptyque candles have better scents than your run of the mill wax candle. But is a Diptyque scent really worth 10X the price of a normal candle?
Well, yes, sometimes.
Fancy-packaging-as-a-strategy works when the product is delivered in a social context. Perfume, chocolate, candles, wine… these are all gifts. Sure I could give somebody a cheap unbranded candle as a housewarming gift. But what would that convey? The value in a fancy brand of candle or chocolate isn’t in the commodity price of the wax and the cocoa beans. It’s in the presentation of the gift and showing somebody that you care.
Fishwife smartly took a dusty category (canned fish), and made it sexy. The abhorrent price is part of the proposition. Imagine: you come to my home for dinner and I serve you a $1.60 tin of fish that you’ve only previously seen merchandised at the bottom of the grocery shelf. No thanks. But serving hors d’oeuvres out of gorgeous packaging that also happens to be partnering with all the trendiest restaurants, and charging $13 a tin? Don’t mind if I do.
Designing giftable packaging doesn’t need to cost a fortune. You can develop. standout packaging specifically for gift sets by hiring a freelancer on a platform like Fiverr.
How to apply the packaging strategy:
It’s easy to look down on packaging-focused brands. It’s just branding! blah! But they’re adding value to certain occasions, and bringing new customers into the category.
So, a note to brand managers: If you’re selling a product that is used as a gift or presented in a social setting, don’t skimp on the packaging. This is a place to invest.
And if you’re entrepreneur looking for ideas, consider low-cost categories that don’t have a ton of social cachet, like tinned fish or canned beans. Add some beautiful packaging, partner with glossy influencers and restaurants, and you too can have a high-margin packaging business.
If salt can become a kitchen counter flex — where’s the limit?
