Would you buy the product if not for the look?
Antrepo, a design consultancy conducts several experiments and one of them caught my eye very effectively. They conducted an experiment called the Minimalist effect where they repackaged some very large brand products to be specific to the brand name. This got me thinking, how important IS the packaging to a customer? And I realized, very. Why? Because of the mere fact that colors attract people, fancy, over the top and out there packaging stands out and catches attention. I would always go for the product which stands out and whose packaging I like compared to the one that just has the brand name on it. Packaging is how a product is recognized and admired and that is the reason why packaging is important.
However, over the years, it has been noticed that brands have been using the minimalist technique to make their brand name simpler and to the point. For example, the apple logo used to be so much more brighter and out there and now it is simpler. Personally I would choose the rainbow one out of the transitions shown below.