INNOVATION BEFORE THE “NEW NORMAL”
By Joan Driggs and Larry Levin, IRI
Each year, the top food and nonfood CPG brands – known as the IRI New Product Pacesetters™ – spotlight which innovations are resonating with shoppers, as well as how these products evolve from product development through to in-store merchandising.
This year’s report comes at a historical moment for the consumer packaged goods industry and for IRI. As of this writing, CPG manufacturers, retailers and consumers are trying to navigate through the COVID-19 pandemic. This year also marks the 25th anniversary of New Product Pacesetters, which has now recognized a total of 5,000 innovative and successful products.
For this list of the top innovations, consumers showed that they were willing to embrace a range of product types and attributes, and the most successful new product launches were from both large and small companies, as well as from well-known and upstart brands.
The 2019 list of Pacesetters also demonstrates that $100 million-plus launches are not a thing of the past, with ten products in multi-outlet channels achieving this milestone, including six food and beverage brands and four brands in non-food categories.
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