KANSAS CITY — Each year, more than 10,000 new products hit retail shelves, and fewer than 10 launches capture more than $100 million in sales in the first year, according to Information Resources, Inc., Chicago.
“The key to launching a successful new product today is not only understanding your core and target shoppers but also how these shoppers view the C.P.G. (consumer packaged goods) marketplace,” said Susan Viamari, vice-president, Thought Leadership, I.R.I. “Their viewpoint is very different from manufacturers’ and retailers’. Consumers think about satisfying needs in terms of eating occasions, drinking occasions and product usage occasions. C.P.G.s need to recognize which C.P.G. categories compete for each occasion. It varies by mindset, day part, channel and shopper, so the days of one-size-fits-all strategies are gone forever.”
Products introduced this year by leading food and beverage companies address changing consumer preferences, with a number of launches touting simple ingredients or free from top food allergens. While many new items appeal to health-conscious consumers, others, such as new Hostess Deep Fried Twinkies from Hostess Brands, are unapologetically indulgent.
Read on for a recap of innovation from PepsiCo, General Mills, Campbell Soup and more.