The company, which creates slippery surfaces was created in 2012 by Dave Smith and Kripa Varanasi, after it won the audience choice at the MIT (Massachusetts Institute of Technology) $100K Entrepreneurship Competition.
Peanut butter
Dave Smith, CEO, LiquiGlide, told FoodProductionDaily it knew consumers hate waste, but it wanted to quantify the number to get a sense for the lengths people will go to, to get sticky products out of their packages and their willingness to try packaging that eliminates waste.
He said it randomly surveyed more than 1,000 US consumers in Q3 2014.
“One great example is squeezable peanut butter. It’s a great concept, but you don’t see it on store shelves because it’s hugely wasteful. You just can’t get the peanut butter out of the package,” added Smith.
“LiquiGlide’s technology allows viscous products like peanut butter to be sold in convenient squeeze packages without changing the viscosity or recipe to meet the packaging restraints.
“The survey results demonstrate the value of our customized slippery coatings to potential clients. They’ll see consumers hate the waste caused by current packaging, and that they’re willing to switch brands to avoid that waste.”
The survey found the top reason why people hate wasting consumer goods is wasted money (60% of respondents). When asked how much money they thought they lost annually because they couldn’t get to the last few drops of product, 60% estimated between $1 and $49, and 33% estimated $50 or more worth of product was wasted each year.
Beyond money concerns, 20% of respondents said it’s the principle of the matter they should get everything they paid for, and 16% cited environmental concerns.
Every last drop from packaging
According to Smith, people hate wasting consumer goods so much that nearly 40% of respondents say they won’t quit until they get every last drop from the packaging.
More than 60% of respondents spend more than a few minutes squeezing or scraping the last drops of product, including 15% who spend “as long as it takes.”
More than two-thirds (69%) say they hesitate to open another package when there’s still a tiny bit left in the previous one.
Almost all respondents have used at least one special method to get every last drop out, from storing bottles upside-down (84%) to adding water (68%), cutting containers open (61%), using spatulas (40%) and using centrifugal force (19%).
A few more zealous consumers admitted to buying special tools (12%) and pulling unfinished bottles from the trash (11%).
More than 50% of respondents said they have their own tricks.When asked for the “craziest way” they’ve gotten product out of its packaging, respondents admitted to smashing, heating, stepping on, licking, sucking and biting – to get the last few drops.
“Consumers hate waste so much they are even willing to switch brands for ones with packaging that allows them to easily get their products out,” said Smith.
“To date, we’ve had over 4,000 inquiries about our coatings, and we currently have more than 30 paying clients who we’re working with to develop custom coatings.”