CHICAGO and LAS VEGAS, March 24, 2009 - The most successful new consumer packaged goods (CPG) brands of 2008 were released today by Information Resources, Inc. (IRI), at the 2009 IRI Reinventing CPG & Retail Summit being held at the Wynn Las Vegas. The highly anticipated IRI New Product Pacesetters™ report, now in its fourteenth year, showcases brands that used innovation to beat the new product odds and a recessionary economy.
"These brands are truly remarkable," says IRI Consumer and Shopper Insights Practice Executive Vice President Anne Berlack. "Even in the best of times, approximately 75 percent of new products fail to earn more than $7.5 million during the first year of availability. In 2008, New Product Pacesetters faced unprecedented challenges and came out on top."
Top 10 Food and Beverage Brands
In the face of mounting financial pressures, away-from-home dining activity saw sharp declines in 2008. However, despite hardships, consumers are not willing to sacrifice nutrition or convenience, and they are still seeking the occasional indulgence. The top ten food and beverage brands of 2008 are reflective of changing consumer dining rituals.
2008 New Product Pacesetters: Top 10 Food and Beverage Brands ($s in Millions)
(Total Year One Dollar Sales across Food, Drug, and Mass Channels, excluding Wal-mart) |
G2 |
$159 |
Dunkin’ Donuts Coffee |
$112 |
Healthy Choice Café Steamers |
$95 |
Progresso Light |
$75 |
Hormel Compleats |
$71 |
DiGiorno Ultimate |
$61 |
Smirnoff Ice Flavors |
$61 |
Pepsi Max |
$61 |
Tyson Any’Tizers |
$59 |
Doritos Collisions |
$58 |
Source: IRI New Product Profiler™
"In a world of economic uncertainty, consumers seek comfort and stability in small ways," adds Berlack. "Home dining occasions are proving to be an area of opportunity. Shoppers are staying with trusted brands that provide value and comfort and are diversifying their menus through brand extensions, such as chicken breasts with new flavor offerings, or ice cream with new, indulgent mix-ins."
Top 10 Non-Food Brands
For the first time in several years, non-food new product introductions outpaced food product introductions by roughly 80 products, or more than 10 percent. This shift is reflective of shoppers' stepped-up focus on self-reliance. From health care to beauty care, consumers are saving money with "do-it-yourself" strategies.
Top performers among non-food New Product Pacesetters share one of two powerful themes: self-care and improved performance. And, across a range of non-food categories, innovation centers on improving the consumer experience.
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2008 New Product Pacesetters: Top 10 Non-Food Brands ($s in Millions)
(Total Year One Dollar Sales across Food, Drug, and Mass Channels, excluding Wal-mart)
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Zyrtec
|
$316
|
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alli
|
$160
|
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Charmin Ultra Strong
|
$144
|
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Ped Egg
|
$69
|
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Secret Clinical Strength
|
$51
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MiraLAX
|
$49
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Dawn PLUS
|
$49
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CoverGirl LashBlast
|
$45
|
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Maybelline Define
|
$45
|
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Tide Pure Essentials
|
$44
|
Source: IRI New Product Profiler™
"The customer experience is at the heart of innovation today," says Berlack. "Across non-foods, technical innovation is occurring at a rapid pace, and will define product development for years to come."
About the Report
The IRI Times & Trends Report, 2008 New Product Pacesetters: The Role of Innovation in a Down Economy" is available from IRI, the leading global provider of consumer, shopper, and retail market intelligence and insights for the consumer packaged goods (CPG), retail, and healthcare industries. The findings of this report were compiled based on IRI New Product Profiler™, IRI Consumer Network™ and IRI InfoScan™ Reviews. To download the report, visit http://us.infores.com/page/news/times_and_trends.
About Information Resources, Inc.
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.
Editors Note: Information Resources, Inc., IRI, the IRI logo and the names of IRI products and services referenced herein are either trademarks or registered trademarks of Information Resources, Inc. All other trademarks are property of their respective owners.
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IRI CONTACTS:
John McIndoe
E-mail: john.mcindoe@infores.com
Phone: (312) 474-3862
Fax: (312) 726-1091
Shelley Hughes
E-mail: shelley.hughes@infores.com
Phone: (312) 474-3675
Fax: (312) 726-1091