HUNKERING DOWN, YET STILL HANKERING FOR NEW
By IRI's Joan Driggs and Larry Levin
Every year, IRI analyzes the top food and nonfood CPG brand launches. These IRI New Product Pacesetters™ provide a glimpse into what is resonating most with consumers and the trends CPG manufacturers and retailers should watch for success moving forward.
The latest report – representing 2020 new product launches – shows what consumers cared about while grocery shopping during the chaos of the COVID-19 pandemic. While product plans from CPGs were well underway long before the pandemic, the vast majority of Pacesetters launched into a retail atmosphere unmatched in history yet overcame substantial hurdles to achieve success with consumers and in the market. This year’s list of top innovations and its consumer attitudes survey about new products tell a story of people cocooning at home while still very much desiring products and brands that made them feel comfortable and indulged.
Despite the fact that manufacturers and retailers were forced to abandon promotional schedules because of COVID-19, faced significant supply chain demands and dealt with dramatic out-of-stocks from the stock-up frenzy of mid-March 2020, this year’s Pacesetters gave new products the attention necessary to attract consumers who were not browsing stores like they had before.
Download Top 200 IRI New Product Pacesetters
Download the Full Report
How can we help you supercharge growth and profitability?
95% of CPG, retail, and health and beauty companies in the Fortune 100 work with us.
Copyright 2022 IRI. All Rights Reserved.