Innovation for a Post-Pandemic World

SUMMARY

INNOVATION FOR A POST-PANDEMIC WORLD

The pandemic has changed the CPG retail landscape and is fueling unprecedented growth, which remains up more than 10% in February 2021 compared to year-ago levels. The industry was transformed in 2020, but what will happen this year?

IRI’s report, “Innovation for a Post-Pandemic World,” examines innovation opportunities in self-care, convenience and indulgence that reflect consumer behavior for now and the future.

Current Innovation Trends:

• Product innovation progressed at nearly a level pace in 2020, but line extensions were down.
• National and private/store brand product innovation leveraged many existing trends, including self-care and societal care, indulgence and convenience.

Innovation Opportunities:

• Current trends, including plant-based, premium, and health and wellness will continue in 2021. Innovation opportunities are especially strong in self- and societal care, indulgence and convenience.
• With growth of online shopping, consumers are searching for attributes focused on product origins, societal care, lifestyle diets and self-care.

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