IRi: 1-in-5 people always looking for new products
CHICAGO — Americans may have been on a roller coaster ride with the U.S. economy over the past few years, but that doesn’t mean they don’t want to try new products, noted IRi in its recently released 2012 IRi New Product Pacesetters report.
According to IRi’s 2012 new products survey, 20% of consumers are “always” looking for new products to try. And consumer packaged goods companies are doing their best to oblige. In 2011-2012, nearly 1,900 new CPG brands hit retail shelves across U.S. multi-outlets. IRi New Product Pacesetters averaged $39.5 million in annualized sales, reaching a combined $7.9 billion in year-one total sales. A total of 40 brands captured more than $50 million in sales during their first year, and 11 brands soared past $100 million.
Some key highlights: 15 new pet care banners achieved IRi New Product Pacesetter status in 2012; anti-aging remains a big focus in personal care, with skin care brands like Garnier Skin Renew BB Cream and RoC Multi Correxion; the year’s most successful healthcare launches tell a story of proactive health care and the power of nature and new technologies, such as Centrum ProNutrients and Vicks Nature Fusion, formulated with real honey in place of artificial flavors and dyes.
To view the full report, click here.