Information Resources, Inc. (IRI) has revealed its 2013 New Product Pacesetters report, an industry-recognized benchmark analysis of exceptional first-year CPG sales success for newly launched products. With 190,000 new UPCs and 9,500 new brand launches in 2013, new products are certainly high-octane fuel for CPG growth engines, according to IRI.
“Manufacturers are always striving to create breakthrough innovation, and our impressive list of the 2013 Pacesetters, which earned an average of $35 million in their first year, is no exception, as these products fuel accelerated growth and serve as catalysts for excitement in the CPG arena,” said Larry Levin, executive vice president and practice leader, IRI. “New product innovation is more important than just dollars, though. It builds excitement, buzz and competitive advantage. Successful new products can establish and protect category leadership, as well as help companies break into entirely new categories. In short, they are game changers for CPG companies and consumers alike.”
In the non-food area, average year-one dollar sales for the top 100 brands were $34 million. The best-selling launches of 2013 demonstrate the power of promising healthier, worry-free expectations and experiences, as well as of providing economical options, according to IRI.
Earning $2 billion in aggregate year-one launch sales, 48 out of the top 100 non-food Pacesetters deliver wellness. And, for the first time in recent Pacesetter history, three home care products achieved top-10 status, including Tide Pods, Ajax Triple Action and Downy Infusions. Hair care marketers are also “going big” with results, experiences and value, with L’Oréal’s Advanced Haircare and Vidal Sassoon Pro Series securing top spots (see chart on page 12 for a list of products).
More info: www.iriworldwide.com/Insights/Publications/NewProductPacesetters.aspx