IRI Announces New Product Pacesetters for 2006
TMCnet - The World's Largest Communications and Technology Community
TMC Launches New Sites ::  NGC  |  4GWE  |  Green Tech  |  Satellite  |  IT |  ITEXPO  |  Healthcare  |  Smart Grid  |  M2M  |  Smart Products  |  AstriCon News  |  SATCON News
Share
TMCnews
[March 19, 2007]

IRI Announces New Product Pacesetters for 2006

CHICAGO --(Business Wire)-- IRI, the world's leading global provider of consumer, shopper, and retail market intelligence and insights for the consumer packaged goods (CPG), healthcare and retail industries, announced today the highly anticipated "2006 New Product Pacesetters" ranking of the year's most successful new CPG brands in its latest Times & Trends report. Now in its twelfth year, the annual Pacesetters report celebrates new brands achieving breakthrough success.



"These brands truly beat the odds, since less than one quarter of new brands exceed the $7.5 million hurdle for year-one sales that is required to earn Pacesetter status," explains Sunny Garga, president, IRI Business and Consumer Insights. "The Pacesetter report provides a detailed assessment of this year's winners to reveal the product benefits that resonated with consumers, the trends to watch for future new product opportunities and sales benchmarks to consider when evaluating new product introductions."

This past year was one of the most active in recent history for CPG new product introductions. Success rates, however, have changed little during the past decade, with less than 5 percent of new brands reaching $50 million or more in year-one sales.



Top 10 Food & Beverage Brands

This year's leading new food and beverage brands perfectly reflect consumers' evolving health focus from pure weight management to total health and wellness, with several making it easier to eat healthier without sacrificing taste and convenience. For instance, while the blockbuster Kraft South Beach diet line offers weight management benefits, there is also a heavy focus on nutrition, including whole grains and "good fats" in brand marketing.

Other highly successful new brands, including Dreyer's/Edy's Slow Churned Ice Cream, Coke Zero, Sara Lee Soft and Smooth bread and Stouffer's Lean Cuisine Paninis offer consumers healthier options without sacrificing familiar tastes.

2005-2006 New Product Pacesetters: Top 10 Food & Beverage Brands

(Total Year One Dollar Sales Across Food, Drug, Mass Channels,
Excluding Wal-Mart)
1. Kraft South Beach multi-category line $231 (Mil $)
2. Dreyer's/Edy's Slow Churned ice cream $229
3. Breyer's Double Churned ice cream $135
4. Dannon Activia yogurt with probiotics $128
5. Coke Zero carbonated soft drink $121
6. Gatorade Rain sports drink $120
7. Black Cherry Vanilla Coke carbonated soft drink $83
8. Sara Lee Soft & Smooth whole grain bread $81
9. Stouffer's Lean Cuisine Paninis frozen entrees $78
10. Stouffer's Corner Bistro frozen entrees $77
Source: IRI InfoScan(R) Reviews



"Clearly, a number of trends will impact new product development focus and opportunity next year, ranging from a rising number of gourmet consumers to a growing demand for eco-friendly packaging," adds Garga. "However, consumers' drive to incorporate more nutritious food and beverages into their diets will be the dominant force by far. The multiple dimensions of nutrition that are likely to drive significant opportunity for the next several years include convenient nutrition, kids' nutrition, functional nutrition that provides specific health benefits, such as protection from cancer and heart disease, and nutrition that delivers beauty benefits from the inside out."

Top 10 Non-Food Brands

Enhanced performance landed several of this year's top 10 onto the list, including two new razors from Gillette -- Gillette Fusion and Gillette Venus, which offer a closer shave. Others with performance benefits include Zantac 150, which delivers faster relief of heartburn and Huggies Pull-Ups with wetness liners that ease the potty training process. Tide with Febreze offers the performance benefits of two mega-brands in one to deliver a whole new scent experience.

2005-2006 New Product Pacesetters: Top 10 Non-Food Brands

(Total Year One Dollar Sales Across Food, Drug, Mass Channels,
Excluding Wal-Mart)
1. Gillette Fusion men's shaving products $191 (Mil $)
2. Tide with Febreze laundry detergent $138
3. Scott Extra Soft toilet tissue $109
4. Tide Coldwater laundry detergent $93
5. all small & mighty concentrated laundry detergent $57
6. Huggies Pull-Ups with Wetness Liner training pants $55
7. Jergens Natural Glow moisturizer$54
8. Zantac 150 antacid tablets $53
9. Pantene Pro V Expressions hair care $50
10. Gillette Venus Vibrance & Disposables women's razors $49
Source: IRI InfoScan(R) Reviews



"There are a number of trends likely to influence new non-food product development during the next few years, including customization," adds Garga. "For instance, we may not be far away from offering a base hair care product with add-ins for specific hair conditions that consumers can mix in themselves, a la syrups at coffee shops. Both anti-aging supplements and food and beverages with anti-aging benefits, such as acai and Vitamin C also have tremendous potential."

Focus on eco-friendly benefits is expected to grow significantly as a rising number of consumers seek environmentally-friendly products (biodegradable, non-toxic, chlorine-free and petroleum-free) and packaging (biodegradable, re-usable or made from recycled materials). Finally, premium products will strike a chord with baby boomers who will likely spend their discretionary income not only on premium food and beverages, but also on premium non-foods including healthcare and cleaning products.

About the Report

Findings presented in Times & Trends: "2006 New Product Pacesetters" are based on extensive analysis of scanner-based sales information from IRI InfoScan(R) Reviews. To qualify as a 2006 New Product Pacesetter, a brand must have been introduced between February 2005 and December 2006 and must have achieved at least $7.5 million in first-year retail sales across food, drug, mass channels excluding Wal-Mart (FDMx). Datasets and summaries of each year's Pacesetters are available for purchase from IRI. For an in-depth view of the full Times & Trends report, click on http://us.infores.com/page/news/times_and_trends.

About IRI

IRI is the world's leading provider of consumer, shopper, and retail market intelligence and insights supporting 95 percent of the FORTUNE Global 500 consumer packaged goods (CPG), retail and healthcare companies. Only IRI offers the unique combination of integrated market information, automated and predictive analytics, innovative enabling technologies, and domain expertise. With IRI, leading retailers and manufacturers are able to quickly discover breakthrough insights driving smarter decisions and actions across the enterprise for breakthrough results. Companies around the world depend on IRI for improved productivity, stronger brands, and dramatic revenue growth. For more information, visit http://us.infores.com.

[ Back To TMCnet.com's Homepage ]


Discussions:
Be the first to post a comment on this page!
 
By  
TMCnet
Featured White Papers
Top Stories
Related VoIP News

Today @ TMC
Upcoming Events
ITEXPO East 2010
January 20-22, 2010
Miami Beach Convention Center
Miami, FL
4G Wireless Evolution Conference
January 20-22, 2010
Miami Beach Convention Center
Miami, FL
Subscribe FREE to all of TMC's monthly magazines. Click here now.