Nexium 24HR tops IRI's 2015 New Product Pacesetters list
CHICAGO – Nexium 24HR topped IRI's 2015 New Product Pacesetters for non-food products, taking in $270.6 million in first-year sales. The top-selling 200 new brands captured cumulative year-one sales of more than $6.5 billion across IRI’s multi-outlet geography.
“The key to launching a successful new product today is not only understanding your core and target shoppers but also how these shoppers view the CPG marketplace,” stated Susan Viamari, VP thought leadership, IRI. “Their viewpoint is very different from manufacturers and retailers. Consumers think about satisfying needs in terms of eating occasions, drinking occasions and product usage occasions. CPGs need to recognize which CPG categories compete for each occasion. It varies by mind-set, daypart, channel and shopper, so the days of one-size-fits-all strategies are gone forever.”
“The good news is that technology and analytic know-how play a huge role in creating an understanding about market trends and consumers’ needs and wants, and how those factors impact the way consumers make purchase decisions,” added Larry Levin, EVP business development, IRI. “CPG marketers must harness that knowledge to understand sources of volume and incrementality for each of their brands across usage occasions — in other words, know where your sales are coming from. Ultimately, marketers are looking to get the full pool of potential consumers to buy more, rather than just shifting dollars from one brand within the portfolio to another.”
When it comes to non-food products, 20% of consumers actively seek new home care products that are good for the environment, and 17% look for beauty products that offer anti-aging benefits, according to survey results. This is an important lesson in new product innovation: Everyone has different needs, wants and priorities. And today’s shoppers want CPG solutions that recognize this fact. This is abundantly clear across the wide range of 100 top-performing non-food brands, which had median year-one dollar sales of $26.5 million.
2015 New Product Pacesetters: Top 10 Non-Food Brands
Nexium 24HR $270.6 million;
Air Wick Life Scents $172.5 million;
Tide Simply Clean and Fresh $167.5 million;
Always Discreet $133 million;
Amopé Pedi Perfect $128.1 million;
Purina Beyond $108 million;
Sally Hansen Miracle Gel $98 million;
Gillette Fusion ProGlide with FlexBall Technology $86.6 million;
Gillette Venus Swirl $74.1 million; and
Glad OdorShield with Febreze Freshness & Gain $70.4 million.
Source: IRI Market Advantage
CPG innovators are helping consumers express their individuality by offering a variety of olfactory experiences. The largest olfactory launch of 2015 was Air Wick Life Scents, which fills the home with continuous, fresh fragrance for up to 60 days and also allows consumers to select their desired fragrance level. Unique and exciting scent experiences also can be found in the kitchen with Glad OdorShield with Febreze Freshness & Gain.
For the top 100 food and beverage champions, median year-one dollar sales were $19.6 million, down from $22.9 million in 2014. These top-performing products provide much-needed indulgence and offer an experience that brings excitement into the kitchen.
2015 New Product Pacesetters: Top 10 Food and Beverage Brands
McCafé $172.7 million;
Oscar Mayer Deli Fresh BOLD $146.2 million;
Dannon Oikos Triple Zero $108 million;
fairlife $87.1 million;
Yoplait Greek 100 Whips! $83.6 million;
Chili's At Home $78.9 million;
Simply Juice Drinks $70.5 million;
Breyers Gelato Indulgences $66.9 million;
Cobblestone Bread Co. $60.2 million; and
Cheerios Protein $49.8 million.
Source: IRI Market Advantage
Exciting and high-end attributes are found in the top-ranking products and are in line with what consumers are saying they want from new food products. According to IRI’s 2016 New Product Survey, 29% want to indulge without paying restaurant prices; 24% want to add excitement to their daily diet; and 21% seek options that are truly new and different.