New Product Pacesetters: Carving Out Growth in a Down Economy

March 2011
Executive Overview

SymphonyIRI's Times & Trends highlights new developments and critical events across all major CPG categories and channels, providing powerful benchmarking data to help guide your strategic decisions. This report reveals the most successful CPG product launches of 2010, and provides insights into the secrets of their success.

Introduction

New product innovation is the lifeblood of the CPG industry. New products breathe new life into core brands, and they bring fresh news into the CPG environment. But, bringing to market new products is not an easy task, even in the best of times.

Prolonged economic instability has served to make this task even more difficult and daunting during the past several years. Amazingly, some products have been able to beat the odds and make a splash in the CPG world despite today’s less-than-ideal market conditions.

These products are SymphonyIRI’s 2010 New Product Pacesetters. In 2010, the most successful product launches drove to satisfy consumers’ health and wellness objectives, brought excitement to home-based eating and drinking, and raised the bar on expectations around in-home health, beauty and personal care.

And, perhaps equally as important, these brands demonstrate that, even in difficult times, taking risks can reap substantial rewards, and underscore the fact that successful new launches don’t have to come from huge CPG manufacturers.

Select Findings

Food and beverage innovation has slowed in recent years in response to a difficult economy and conservative consumer behavior. Successful new launches deliver against rituals adopted in response to this environment, including home-based eating with a flair and convenience. Innovation around breakfast solutions, salty snacks, coffee and teas, and juices/waters/milks was particularly strong in 2010.

Non-foods innovation has escalated in recent years, as manufacturers embrace technological advances to bring to market solutions that capitalize on opportunities around home-based and self-administered care. Innovation across health, beauty and personal care segments was well-received in 2010, accounting for about three-quarters of dollar sales across successful non-foods launches.

See the complete report in the "New Product Pacesetters: Carving Out Growth in a Down Economy" pdf.