shopping trends « SymphonyIRI Group CPG Blog

Posts Tagged ‘shopping trends’

2011 New Product Pacesetters: Learning from the Top CPG Launches

Tuesday, April 24th, 2012

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.

Tags: consumer rituals, Consumers, cpg, CPG trends, Eating Habits, economy, health options, manufacturers, niche, retail innovation, sales, shopper behavior, shopping trends, SymphonyIRI, year-one
Posted in New Products | No Comments »

Getting the Big Picture

Friday, March 25th, 2011

By Joe Sakach, Director of Next Generation Analytics & Practices, Campbell Soup

It’s safe to say most of us don’t give much weight to a statistic when we realize the study involved a small number of people from the same region and of the same age. Why? Because, we know that the data retrieved by a study like that is anecdotal at best. It’s not widespread enough to represent an accurate account of a real population.

This idea is no different when evaluating the price increases and decreases in the CPG and retail industries. Methods often employed by marketers only evaluate a short period of price impacts and changes. The issue with this model is that the statistics it returns may not present the complete picture; the evaluated sample is simply not broad enough to understand true trends and consumer reactions.

During the Summit 2011 breakout session, “Measuring the ‘Carryover’ Effects of Pricing Using Dynamic Demand Modeling,” I will join Joy Joseph from SymphonyIRI to further examine best practices in product research, and we will explain why it is imperative for CPG and retail companies to move away from the current short-term price evaluation strategy. In doing so, organizations will be able to gain a more thorough understanding of consumer reaction and habits.

Joe Sakach and Joy Joseph will be presenting their session on Wednesday, March 30 at 2 p.m. in Glimmer 2. Check out the calendar for this year so you can plan your time at Summit!

Tags: Campbell’s Soup, cpg, Marketing, merchandising, pricing, Retail Solutions, Sales Leadership, shopper attitudes, shopper behavior, shopping trends, Summit, SymphonyIRI
Posted in Summit | 2 Comments »

New Approaches in a Seemingly New Industry

Wednesday, March 23rd, 2011

At a time where shoppers remain cautious in their spending habits, it is even more critical for retailers to understand what a shopper is looking for the moment they enter the store. As one might imagine, taking on this task is no easy feat. The big question remains: how can anyone understand what each individual customer is looking for when each shopper brings different characteristics to the table, from background, age and dietary preferences to marital status and grocery budgets?

Manufacturers are facing this challenge head-on by considering “customized trip missions” to better understand how shoppers interact with various product categories and the results they hope to attain.

During the Summit 2011 breakout session, “Using Customized Trip Missions to Enhance Merchandising Strategy,” I will join Christina Sung, director of shopper analytics, SymphonyIRI, to discuss the importance of employing new tactics and measures to understanding the shopper in an unpredictable industry.

By attending our session, you’ll learn about opportunities retailers and manufacturers can take in developing key merchandising strategies that will attract, influence and maintain loyal customers. I hope to see you there!

Rob Chumley will be presenting his session on Tuesday, March 29 at 2 p.m. in Glimmer 1. Check out the calendar for this year so you can plan your time at Summit!

Rob Chumley, Vice President, Merchandising, 7-Eleven

Tags: 7-Eleven, cpg, Customized Trip Mission, Marketing, merchandising, pricing, Retail Solutions, Sales Leadership, shopper attitudes, shopper behavior, shopping trends, Summit, SymphonyIRI
Posted in Summit | 2 Comments »

Let’s Get Creative: Shaping Digital Campaigns that Sell

Tuesday, March 22nd, 2011

Being able to measure the total impact of one’s marketing efforts is an important aspect of any marketing plan, and digital certainly isn’t exempt. CPG manufacturers are at the forefront of digital advertising effectiveness measurement, asking important questions, requiring deep insights and adjusting campaigns in-flight to maximize ROI. Yet, there is still a huge opportunity for CPG marketers to get more out of their online marketing investments by doing what traditional CPG marketers have done for years by testing the quality of their ad’s creative before it goes to market.

At this year’s Summit, I’ll be presenting a session where we will explore ways to get the most out of these ad placements by evaluating the quality of creative in advance of a campaign’s launch. We’ll discuss digital-copy testing, strategic creative elements and the best way to get across your messages about price and promotions. Through this discussion, we’ll be able to identify what’s working and what’s not and then use that information to make sure your future campaigns turn even more heads.

Ashley Grace will be presenting his session on Tuesday, March 29 at 4:30 p.m. in Glimmer 5. Check out the calendar for this year so you can plan your time at Summit!

By Ashley Grace, comScore

Tags: comScore, Copy Testing, cpg, Digital, Marketing, Retail Solutions, ROI, shopping trends, Summit, SymphonyIRI
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Maintaining a Competitive Edge in 2011

Monday, March 21st, 2011

By Tycho Ferrigni, SymphonyIRI

With the reduced cost of data storage and the introduction of frequent shopping programs, retailers are collecting data about their shoppers at a pace and breadth that has never been seen before. SymphonyIRI has the tools that will turn these data assets into future cash flows for both retailers and manufacturers.

While each retailer has specific information about what a shopper does within their firm, SymphonyIRI understands the shopper independent of where they shop. We have taken robust and reliable analytical capabilities from data rich industries and engineered them to work within the CPG space. Our models predict things like where a shopper is likely to shop, what they are likely to purchase as well as estimate their inherent health and wellness needs based on their risk for serious and chronic disease. All of this insight is calibrated by leveraging our “full market view” provided by our National Consumer Panel.

By leveraging a targeted direct-to-consumer capability, retailers and manufacturers will be able to increase the relevance of their offers, the returns on the marketing spend and increase the number of programs they launch in market. Offering gas points or bonus rewards coupons can be a clever way to temporarily induce customers to open their wallets, but it often takes more than that to keep customers coming back. SymphonyIRI’s Shopper Marketing Analytical Services Group is tackling this problem head on and is focused on gaining a better understanding of what it takes to attract and retain today’s consumer.

A key component of our study has been exploring the gap between the retailer and the manufacturer. By partnering, both organizations are able to identify and capitalize on key products and services that maximize the value to shoppers and create a win-win for the retailer and manufacturer alike.

By attending Summit 2011’s breakout session, “Leveraging Analytics to Target the Highest Opportunity Shoppers,” you’ll gain clear insight as to how utilizing the analytical insights and information from our Shopper Marketing Analytical Services Group will strongly assist in the attraction and maintenance of key shoppers, time and time again.

Visit www.sigsummit.com for more information and to register. Don’t forget to follow us on twitter at (@SymphIRI and #SIGSummit) for continued updates and information. See you in Miami!

Tycho Ferrigni will be presenting his session on Wednesday, March 30 at 2 p.m. in Glimmer 3. Check out the calendar for this year so you can plan your time at Summit!

Tags: cpg, Marketing, merchandising, pricing, Retail Solutions, Sales Leadership, shopper attitudes, shopper behavior, Shopper Marketing Analytical Services Group, shopping trends, Summit, SymphonyIRI
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New Products That Prosper

Friday, March 18th, 2011

New Products: The Final Frontier. These are the voyages of successful manufacturers from across the CPG galaxy. Their one-year mission is to explore strange new markets, to seek out new categories and consumers, and to boldly go where no CPG product has gone before.

Introducing a successful new product into a thriving market is an arduous task, but doing this during a down economy with a frugal consumer marketplace is more like Star Trek’s Kobayashi Maru—a no-win scenario. In the past few year, though, despite one of the worst U.S. economies on record, some products were able to accomplish their mission, carving out growth in a down economy!

Come on board during Summit 2011 for our session, “New Product Pacesetters: Trailblazers in Search of a New Galaxy.” This session will travel back in time to share best-of-the-best learnings from CPG captains across more than 15 years of SymphonyIRI’s New Product Pacesetters. The journey will continue into 2010, highlighting 2010’s most successful new product launches, revealing best practices in black hole avoidance.

So, bring your notepads, laptops, tricoders—er, I mean tablets—and join us as we journey into a new CPG macrocosm!

Visit www.sigsummit.com for more information and to register. Don’t forget to follow us on twitter at (@SymphIRI and #SIGSummit) for continued updates and information.

Susan Viamari and Larry Levin will present this session on Tuesday, March 29 at 4:30 p.m. in Glimmer 6/7. Use this year’s calendar to help you plan Summit!

By Susan Viamari, Editor of Times & Trends, SymphonyIRI

Tags: 15 Years, Brand Growth, cpg, Going Pro, Indulgence, innovation, Market Growth, Marketing, New Product Pacesetters, New Products, Retail Solutions, shopper attitudes, shopping trends, Star Trek, Summit, SymphonyIRI, Wellness
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Finding New Niches Through Market Analysis

Tuesday, March 8th, 2011

By Mike Duffy and Lisa Maas, SymphonyIRI

In today’s competitive environment, it seems that everyone is looking for an edge—an undiscovered opportunity—that will drive profitable brand growth or store sales. Exploring these opportunities can be problematic for companies, with high hurdles for new products and changing customer behavior.

It would be much less risky if companies were able to identify and explore these possibilities with a safety net to gauge product potential before entering the market. SymphonyIRI prides itself on providing its manufacturer and retailer partners with the tools that make their businesses successful, and to fill this need, SymphonyIRI Hendry has worked closely with manufacturers to identify actionable market insights that will act as a roadmap leading to profitable growth.

At Summit 2011, we’ll discuss this approach and how it can be used to identify white space opportunities, recognize ways to extend your brand profitably and anticipate possible competitive moves. Through market simulations it’s not only possible to size the opportunity of filling a gap, but it will also help you prioritize innovation and optimize your brand spending.

Visit www.sigsummit.com for more information and to register. Don’t forget to follow us on twitter at (@SymphIRI and #SIGSummit) for continued updates and information. See you in Miami!

Mike Duffy and Lisa Maas will be presenting their session on Tuesday, March 29 at 3:15pm in Glimmer 2. Check out the calendar for this year so you can plan your time at Summit!

Tags: cpg, innovation, Marketing, merchandising, pricing, Retail Solutions, shopping trends, Summit, SymphonyIRI, SymphonyIRI Hendry, white space opportunities
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Industry Insights

Thursday, February 24th, 2011

In Track F: Latest Innovation and Solutions from SymphonyIRI Group, we want to share our latest innovations and solutions. Our goal is to create insight-driven solutions that complement the sales person’s knowledge and help build stronger retail trading relationships.

In working towards positive solutions for the industry, we have noted a major shift toward the mobile market. To meet this market demand, we are currently working on our SymphonyIRI Liquid Data mobile application prototype. This shift creates an opportunity to open discussion, invite feedback and enhance existing mobile platforms.

Additionally, we are becoming more aware of repeat shoppers’ needs. In this session, SymphonyIRI’s Shopper Marketing Analytical Services Group will reveal its latest technology on attracting those shoppers back into the store based on the products and/or services they are most likely to purchase.

Today, companies are looking to establish their own niche. Regional brands are looking to obtain wide-spread success by becoming national brands. SymphonyIRI will also present Market Advantage, a tool that will help brands achieve that goal. We will present a case study of one company’s success in obtaining drastic brand recognition on a much larger scale.

Mark Peiser, vice president of Marketing Research for News America Marketing, will join us to address the challenging question: How do you measure the media value of in-store marketing? While measuring this type of ad-value has long been a frustrating task, News America Marketing, Kantar and SymphonyIRI partnered to create a new tool that will help quantify the success of marketing initiatives.

Rounding out our final session, EmSense and SymphonyIRI will present their new technology that allows you to get into the mind of a shopper. You’ll be able to answer key questions, including what drives a shopping to select a certain item, or what motivates a shopper to choose a certain brand?

We are excited to share our latest innovations and solutions with Summit attendees, and we hope these tools and tactics will help each company strengthen its presence nationwide.

Visit www.sigsummit.com for more information and to register. Don’t forget to follow us on twitter at (@SymphIRI and #SIGSummit) for continued updates and information. See you in Miami Beach!

Tags: cpg, Market Advantage, Marketing, merchandising, pricing, Retail Solutions, shopper attitudes, shopper behavior, Shopper Marketing Analytical Services Group, shopping trends, Summit, SymphonyIRI, SymphonyIRI Liquid Data
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Staying Ahead of the Competition

Wednesday, February 23rd, 2011

In an industry as competitive as retail, companies are forced to do all they can to set themselves apart in order to maintain market share. It is a day-to-day battle, and as an organization, you need to go into battle armed with the right information and tactics.

At Summit’s Track E: “Winning at Retail: How to Compete Successfully” breakout sessions, you’ll hear how a few well-known companies have managed to stay one step ahead of the curve in this ever-challenging market. Featured speakers will include:

Cara Bernosky, president and co-founder for IMC Licensing: Cara will address creative approaches restaurants have taken during the recession, such as contributing to licensing activity in this sector to supplement for recent lower foot traffic and gradually drive in traffic as the economy increases.
Dan Strunk, Category Management Association and Center for Sales Leadership of DePaul University: Dan will introduce the importance of evaluating point-of-sale data scanners as a means to improving sales.
Joe Sakach, director for Campbell Soup: Joe will explain how to break out of the cycle of short-term price evaluation and understand the true “carryover” effect of pricing and promotion activity.
Kevin Durkee of Delhaize America: Kevin will present the next generation of category business planning, offering a new technology that will support an efficient and reasonable business plan called “CMI” for companies.

These forward-thinking companies have a plethora of insights to share. Don’t miss out on how you can stay ahead of the curve and identify the next step toward evaluating and maintaining success.

Visit www.sigsummit.com for more information and to register. Don’t forget to follow us on twitter at (@SymphIRI and #SIGSummit) for continued updates and information. See you in Miami Beach!

Tags: Campbell Soup, cpg, Delhaize America, DePaul University, IMC Licensing, Marketing, merchandising, pricing, Retail Solutions, Sales Leadership, shopper attitudes, shopper behavior, shopping trends, Summit, SymphonyIRI
Posted in Summit | No Comments »

Who is Shopper Jane Doe?

Tuesday, February 22nd, 2011

During the past few years, we’ve all become creative in our spending habits. Whether it’s been carpooling, cutting back on vacations or shopping more cautiously, the current economy has made us all aware of our wallets. And hey, who doesn’t want to save some cash whenever possible?

These adopted saving habits have created a new challenge in the retail industry: newly unpredictable shopper behavior. CPG and retail marketers are facing the challenge head on by developing and implementing strategies that will provide retailers an insight into today’s consumer.

At Summit, we are addressing this concern through Track D: “Shopper-Centric Retailer-Manufacturer Collaboration.” Industry experts and thought leaders will join us to discuss the importance of new technology that assists category incrementality, and ways to ensure that you’ve stocked the right product at the right price point in the right place at the right time to satisfy today’s shopper.

We will also be addressing effective category management strategies in the store as one of the most important tactics in response to the changed spending habits.

By attending this track, you’ll be able to identify what is driving your customer’s choices and how you can best cater to them from the moment they walk in the door. While getting reacquainted with our target audience seems like a difficult task to take on, gaining a fresh perspective for your organization will become a win-win for retailers and customers.

Visit www.sigsummit.com for more information and to register. Don’t forget to follow us on twitter at (@SymphIRI and #SIGSummit) for continued updates and information. See you in Miami Beach!

Tags: cpg, Marketing, merchandising, pricing, Retail Solutions, shopper attitudes, shopper behavior, shopping trends, Summit, SymphonyIRI
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Posts Tagged ‘shopping trends’

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