Happi Staff06.01.20
IRI has released its 2019 New Product Pacesetters, the 25th annual report highlighting the most successful new product launches across multiple sectors.
Both large and small companies were successful in 2019, thanks to consumers’ willingness to embrace an expanded range of product types and attributes, says the report. However, the big story of 2019 was the return of the blockbuster product launch. Four nonfood new product pacesetters earned more than $100 million in multioutlet channels.
“If only one thing is true about New Product Pacesetters year in and year out, it’s that the formula for a winning product, no matter the size of the company, is having the right product in the right place at the right time for the right consumer,” said Driggs. “This year’s New Product Pacesetters stand true to that testament, with both small and large brands achieving success thanks to smart distribution strategies and personalized targeted marketing initiatives.”
Delivering Products with the Right Attributes to the Right Consumer
One trend documented in the report is better-for-you attributes despite higher price points. Two of the top 10 and 25 of the top 100 in nonfood tout natural/simple ingredients, with products including Johnson's CottonTouch bath products, Downy Nature Blends and Pampers Pure Collection of diapers and wipes.
The Top 10 Non-Food Pacesetters includes:
“Only time will tell how consumers’ behaviors will change from the pre-COVID-19 world to the one we are living in today, but brands that want to thrive will need to adjust their strategies, sometimes dramatically, to reflect the new normal,” said Larry Levin, executive vice president, Market and Shopper Intelligence and Thought Leadership, IRI. “When we look at how new products were developed and distributed during a similar economic period, the Great Recession, we see ample opportunity for manufacturers and retailers to adjust their innovation strategies in order to keep winning.”
Both large and small companies were successful in 2019, thanks to consumers’ willingness to embrace an expanded range of product types and attributes, says the report. However, the big story of 2019 was the return of the blockbuster product launch. Four nonfood new product pacesetters earned more than $100 million in multioutlet channels.
“If only one thing is true about New Product Pacesetters year in and year out, it’s that the formula for a winning product, no matter the size of the company, is having the right product in the right place at the right time for the right consumer,” said Driggs. “This year’s New Product Pacesetters stand true to that testament, with both small and large brands achieving success thanks to smart distribution strategies and personalized targeted marketing initiatives.”
Delivering Products with the Right Attributes to the Right Consumer
One trend documented in the report is better-for-you attributes despite higher price points. Two of the top 10 and 25 of the top 100 in nonfood tout natural/simple ingredients, with products including Johnson's CottonTouch bath products, Downy Nature Blends and Pampers Pure Collection of diapers and wipes.
The Top 10 Non-Food Pacesetters includes:
- Colgate Total SF
- Scott ComfortPlus
- Harry’s
- Pampers Pure Collection
- Crest Gum Collection
- Fresh Step Clean Paws
- Lumify
- Theraworx Relief
“Only time will tell how consumers’ behaviors will change from the pre-COVID-19 world to the one we are living in today, but brands that want to thrive will need to adjust their strategies, sometimes dramatically, to reflect the new normal,” said Larry Levin, executive vice president, Market and Shopper Intelligence and Thought Leadership, IRI. “When we look at how new products were developed and distributed during a similar economic period, the Great Recession, we see ample opportunity for manufacturers and retailers to adjust their innovation strategies in order to keep winning.”
