More than 1,500 new CPG products entered the market in 2011, but only 291 achieved SymphonyIRI New Product Pacesetter (NPP) status. We’re celebrating these successful product launches in SymphonyIRI’s 2011 New Product Pacesetters report, a benchmark analysis of the best-performing new CPG brands in the food and beverage and non-food categories.
Launching new products is extremely difficult, particularly in this unstable economy. Of the 15,000 CPG products introduced from 2002-2011, less than 2 percent made more than $50 million in their first year. In 2011, 81 percent of new CPG launches failed to earn $7.5 million in first-year sales. Yet, 2011 also welcomed some GREAT newcomers; an impressive 21 percent of Pacesetter products passed $50 million in their first year.
Despite ongoing economic challenges and a complex retail environment, 2011’s Pacesetters beat the new product odds, and they did so by delivering what consumers wanted: luxury and indulgence that didn’t break the bank. Some trends and success secrets from our report:
- Twelve percent of 2011’s successful food and beverage launches were restaurant inspired— double that of 10 years ago.
- Consumers sought unexpected textures and flavor combinations, and smart manufacturers met these demands with new technologies and bold ingredients. More than half of 2011’s successful food and beverage launches touted a new or unique recipe.
- Coffee and candy were big sellers. Candy and gum launches made up 19 percent of 2011 food Pacesetter dollars, nearly triple the average for the past decade, while nine coffee and tea innovations achieved New Product Pacesetter status, accounting for about half of all 2011 beverage Pacesetter dollars.
- In non-foods, consumers are skipping the salon and handling more of their beauty and personal care needs at home. Professional-quality beauty and personal care products that offer affordable, at-home luxury and indulgence really resonated with consumers.
- The most successful new household products made housekeeping easier, but also provided extras like fresh fragrances, sustainability reassurances and extended product life.
For more analysis of 2011’s New Product Pacesetters and to find 2011’s most successful brand launches, please visit our New Product Pacesetters page, where you can watch the NPP video, read the press release, replay the webinar and podcast, and download a detailed Times & Trends Report on New Product Pacesetters.
