CHICAGO & WASHINGTON — IRI® has announced last year’s most successful consumer packaged goods launches in its 2015 New Product Pacesetters™ report, an industry-recognized benchmark analysis of exceptional first-year CPG sales success for newly launched products. Thousands of new brands hit retail shelves during 2015, with 54 percent of all new product launches hailing from the food and beverage aisles, while the remaining 46 percent came from the non-food realm. The top-selling 200 new brands captured cumulative year-one sales of more than $6.5 billion across IRI’s multi-outlet geography.
“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 CPG marketplace,” said Susan Viamari, vice president, Thought Leadership, IRI. “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. CPGs need to recognize which CPG categories compete for each occasion. It varies by mind-set, daypart, channel and shopper, so the days of one-size-fits-all strategies are gone forever.”
“The good news is that technology and analytic know-how play a huge role in creating an understanding about market trends and consumers’ needs and wants, and how those factors impact the way consumers make purchase decisions,” added Larry Levin, executive vice president, Business Development, IRI. “CPG marketers must harness that knowledge to understand sources of volume and incrementality for each of their brands across usage occasions — in other words, know where your sales are coming from. Ultimately, marketers are looking to get the full pool of potential consumers to buy more, rather than just shifting dollars from one brand within the portfolio to another.”
Food and Beverage Launches Capture $19.6 Million in Median Year-One Sales
For the top 100 food and beverage champions, median year-one dollar sales were $19.6 million, down from $22.9 million in 2014. These top-performing products provide much-needed indulgence and offer an experience that brings excitement into the kitchen.
| 2015 New Product Pacesetters: Top 10 Food and Beverage Brands | ||
| ($ Millions) | ||
|
(Total Year-One Dollar Sales, Multi-Outlet) |
||
| 1. McCafé® | $172.7 | |
| 2. Oscar Mayer® Deli Fresh™ BOLD | $146.2 | |
| 3. Dannon® Oikos® Triple Zero | $108.0 | |
| 4. fairlife® | $87.1 | |
| 5. Yoplait® Greek 100 Whips!® | $83.6 | |
| 6. Chili's® At Home | $78.9 | |
| 7. Simply Juice Drinks™ | $70.5 | |
| 8. Breyers® Gelato Indulgences™ | $66.9 | |
| 9. Cobblestone Bread Co.™ | $60.2 | |
| 10. Cheerios® Protein | $49.8 | |
Source: IRI Market Advantage™
Exciting and high-end attributes are found in the top-ranking products and are in line with what consumers are saying they want from new food products. According to IRI’s 2016 New Product Survey, 29 percent want to indulge without paying restaurant prices; 24 percent want to add excitement to their daily diet; and 21 percent seek options that are truly new and different.
Consumers definitely want flavor excitement to spice up their daily diets, as well as healthier-for-you solutions. For instance, fairlife milk uses a new, patented filtration process that concentrates some of milk’s natural nutrients, while filtering out lactose and reducing sugars. And loads of flavor is found in crossover brands from restaurants and other realms, such as Chili’s® At Home frozen dinners and McCafé® coffee.
“To be successful, marketers must have a clear, comprehensive and consistent understanding of their competitive set, despite rapidly changing market conditions and fickle consumer attitudes and behaviors,” concludes Viamari. “These insights will help CPGs address white space innovation opportunities that meet the needs of high-potential consumer segments. This knowledge will also support development of highly accurate sales forecasting and brand development programs that will minimize launch failure and maximize market potential.”
About the Report
The IRI “2015 New Product Pacesetters” report is available exclusively from IRI, the global leader in innovative solutions and services for consumer, retail and over-the-counter health care companies. The findings of this report were compiled based on insights from IRI’s New Product Innovation Practice’s powerful suite of analytical and decision-making tools as well as the 2016 IRI New Product Survey. To download the full report, visit: http://www.iriworldwide.com/en-US/insights/Publications/New-Product-Pacesetters-2016.
About the IRI Partner Ecosystem
IRI fundamentally believes that delivering differentiated growth for clients requires deep, highly integrated partnering with a variety of best-of-breed companies. As such, IRI works closely with a broad range of industry leaders to create innovative joint solutions, services and access to capabilities to help its clients more effectively compete in their various markets and exceed their growth objectives. IRI is committed to its partnership philosophy and continues to actively enhance its ecosystem of partners through alliances, joint ventures, acquisitions and affiliations. The IRI Partner Ecosystem includes such companies as Adobe, The Boston Consulting Group, comScore, Experian, GfK, Gigwalk, GuestMetrics, Ipsos, Kantar, MasterCard Advisors, MaxPoint, Microsoft, Millward Brown Digital, Mu Sigma, Oracle, SPINS, Univision and others.
About IRI
IRI is a leading provider of big data, predictive analytics and forward-looking insights that help CPG, OTC health care organizations, retailers and media companies grow their businesses. With the largest repository of purchase, media, social, causal and loyalty data, all integrated on an on-demand, cloud-based technology platform, IRI helps to guide its more than 5,000 clients around the world in their quests to remain relentlessly relevant, capture market share, connect with consumers and deliver market-leading growth. A confluence of major external events — a revolution in consumer buying, big data coming into its own, advanced analytics and automated consumer activation — is leading to a seismic shift in drivers of success in all industries. Ensure your business can leverage data at www.iriworldwide.com.
Source: IRI
