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IRI Announces Most Successful Consumer Packaged Goods Brands of 2014Information Resources, Inc. (IRI), announced today the most successful consumer packaged goods (CPG) launches of 2014 in its 2014 New Product Pacesetters report, an industry-recognized benchmark analysis of exceptional first-year CPG sales success for newly launched products. Thousands of new brands hit retail shelves during 2014, yet only 200 achieved best-of-the-best IRI New Product Pacesetter status. These products captured cumulative year-one sales of more than $7 billion. "The innovators behind this year's New Product Pacesetters are truly remarkable for the ways they effectively embraced the '4 Ps' of marketing to capture significant sales dollars in a very conservative marketplace," says Larry Levin, executive vice president, Mid-Market, IRI. "The most successful CPG launches of 2014 brought in big dollar sales, but revenue is just one piece of the pie. These marketers also did a phenomenal job in building brand equity and excitement in the marketplace, catalyzing growth that stations them ahead of the competition." "During the past year, successful innovation has relied heavily on the clear communication of benefits," observes Susan Viamari, editor, Thought Leadership, IRI. "Today's consumers expect more from their favorite CPG brands. They want products that save time and energy; products that offer better and longer-lasting results. CPG manufacturers that highlighted and delivered on the expectations for bold and authentic taste and top-notch power and performance were rewarded with sizable launch-year returns." Food and Beverage Launches Capture $35 Million in Year-One Sales on Average For the top 100 food and beverage champions, average year-one dollar sales were $35 million. Not surprisingly, products catered to consumers' need to meet nutritional goals, while satisfying their desire to indulge. The strongest food and beverage launches of the year really underscore consumers' passions for bold and authentic flavors, homemade or hand-crafted quality and, of course, solutions that are quick, easy and portable.
Source (News - Alert): IRI Market Advantage™ Greek yogurt launches continue to reap sizable year-one sales, capturing four top-10 spots. Top performers also demonstrated an ongoing appetite for restaurant brands crossing over to the CPG aisles, empowering the untrained to serve restaurant-quality cuisine in the comfort of their homes without the restaurant price tag (News - Alert). In 2014, five restaurant crossovers achieved New Product Pacesetter status, including Starbucks Discoveries and Starbucks Iced Coffee, Olive Garden Signature Salad Dressing, Red Lobster Cheddar Bay Biscuit Mix and Dunkin' Donuts coffee creamer. Non-Food Champions Secure $34 Million in Year-One Sales on Average In the non-food arena, average year-one dollar sales for the top 100 new brands were $34 million. The marketers behind these launches of 2014 are capturing consumers' attention and affections with solutions that simplify mundane daily tasks and put the power of professionals into the hands of ordinary folks. Procter & Gamble transformed routine personal care into an opportunity to stand out from the crowd with two new Old Spice lines: Old Spice Wild Collection, which landed a top-10 spot, and Old Spice Re-Fresh. Sensory stimulation brings new excitement to home care, proven by the average $46 million in year-one sales earned by 2014's air freshener and candle Pacesetters. With nine new launches offering professional quality solutions for beloved furry friends, 2014 was also a big year for pets. Three new dog and cat litter brands achieved top-10 status, capitalizing on opportunities around bringing convenience, power and simplicity to one of life's less pleasant household chores.
Source: IRI Market Advantage™ Top Launches Capture Average $123 Million in First-Year Sales in Convenience Stores In the convenience-store arena, average year-one sales across the top 10 IRI New Product Pacesetters were an astounding $123 million, driven by five brands that surpassed $100 million in year-one revenue. Consumers are clearly continuing to turn to the convenience store channel for everyday indulgences, and c-store innovators are rising to the occasion, delivering exciting experiences in convenient packages.
Source: IRI Market Advantage™ "Despite market challenges, best practice innovation strategies are allowing CPG marketers to break through," concludes Viamari. "Careful execution throughout the product development cycle produces consumer-centric products that are engaging and exciting to consumers. These products will spur volume growth without sacrificing margin, and they will protect and grow brand equity today and in the future." About the Report The IRI "2014 New Product Pacesetters" report is available exclusively from IRI, the global leader in innovative solutions and services for consumer, retail and over-the-counter healthcare companies. The findings of this report were compiled based on insights from the suite of tools offered by IRI's Innovation Center of Excellence, including Market Advantage™, New Product Profiler™ and the 2014 IRI New Product Survey. To download the full report, visit: http://www.iriworldwide.com/Insights/Publications/NewProductPacesetters.aspx. About the IRI Partner Ecosystem IRI fundamentally believes that delivering differentiated growth for clients requires deep, highly integrated partnering with a variety of best-of-breed companies. As such, IRI works closely with a broad range of industry leaders to create innovative joint solutions, services and access to capabilities to help its clients more effectively compete in their various markets and exceed their growth objectives. IRI is committed to its partnership philosophy and continues to actively enhance its ecosystem of partners through alliances, joint ventures, acquisitions and affiliations. The IRI Partner Ecosystem includes such companies as The Boston Consulting Group, comScore, Datalogix (an Oracle Co.), Experian, GfK, Intage, Ipsos, Kantar, MasterCard (News - Alert) Advisors, MaxPoint, Millward Brown Digital, Oracle Data Cloud, Rentrak, SPINS, Univision and others. About IRI: IRI is a leader in delivering powerful market, consumer and media exposure information, predictive analytics and the foresight that leads to action. We go beyond the data to ignite extraordinary growth for our clients in the CPG, retail and over-the-counter health care industries by pinpointing what matters and illuminating how it can impact their businesses. Move your business forward at www.iriworldwide.com.
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