IRI 2014 Pacesetters generate brand equity, excitement

CHICAGO  — IRI announced Tuesday the most successful consumer packaged goods 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,” said Larry Levin, EVP, 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,” noted 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.”

 

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.

 

2014 New Product Pacesetters: Top 10 Non-Food Brands:

 

Source: IRI Market Advantage

 

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.

 

2014 New Product Pacesetters: Top 10 Food and Beverage Brands:

 

Source: 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. 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.