What new product brands in 2013 made the biggest sales splashes
Which product benefits appeal to consumers? Which categories have grown the fastest in recent years due to new product launches?
The answers to these questions and more, were explored in the recently released, IRi New Product Pacesetters report, High-Octane Fuel for Growth Engines. Here are some of the key insights:
Among the Top 10 sellers for new products whose first full year of sales ended in 2013, the top three were:
* Dannon Light & Fit Greek, $144.9 million in multi-outlet sales, yogurt category.
* Yoplait Greek 100, $135.1 million sales, yogurt category.
* Kellogg’s Special K Pastry Crisps, $100.6 million sales, snack bars/granola bars category.
"Healthy" was also important for food and beverage products launched in 2013. Seven of the Top 10, as well as 73 of the Top 100, had a healthier-for-you benefit, according to IRI Market Advantage data. For example, the three yogurt lines within the Top 10 appeal to consumers seeking healthful and convenient items to help them stay or become lighter and fitter.
In addition, many new products provided nutritional benefits by using better ingredients. For example, customers could find new products that promoted: added/high fiber or whole/multi-grain, more natural/organic, products with real fruit and fruit health benefits; products enriched with vitamins or calcium and a push for products with real vegetables, vegetable health benefits. CPG also pushes better-for-you position with fewer less-desirable ingredients in new items. Data showed that most commonly seen was: less/reduced calories/sugar-free, and less/reduced fat/fat-free.
The biggest takeaway from this report, is consumers are looking for healthier, better for you products. The new products that really made a splash were the ones that had noted nutritional benefits and promoted a better for you lifestyle.
Happy Memorial Day weekend! The Lempert Report will be back on Tuesday May 27th.