IRI's New Product Pacesetters 2007

Members: For the full report, click on the attachment in Files at right.Related Image Galleries2006-2007 PacesettersRising Stars for 2008INTRODUCTIONNow in its thirteenth year, the annual IRI New Product Pacesetters report showcases the year's most successful new CPG brands. These brands truly beat the odds: less than one-quarter of new brands exceed the $7.5 million hurdle for year-one sales that is required to earn Pacesetter status.Further, with a record number of new products introduced over the past three years, competition for consumer attention and spending has become even more intense than we have seen in the past.Within this environment, new brands must rapidly become "must-have" products through the delivery of unique, high-demand benefits. The brands showcased in this report have achieved just that.Several new Pacesetters accomplished this goal by creating new markets, leveraging advanced consumer insights and new technologies. Tide Simple Pleasures, for instance, establishes mood-altering scent as a selection criterion in laundry detergent. Birds Eye Steamfresh offers a transformational new microwave steaming cooking technology that provides a quick and easy way to cook frozen vegetables while preserving taste, texture and nutrition.Other Pacesetters extended category reach into new dayparts. Gatorade A.M., for example, enters sports drinks into the morning routine.Many of this year's Pacesetters also supported brand launches with lifestyle-based marketing initiatives, which present the brand as part of a solution, not just a purchase. Campbell's highly successful Reduced Sodium soup, for instance, is positioned as one step in reducing salt intake and as a solution for the whole family -- not only those suffering from sodium-related health conditions. Dannon DanActive's immunity boosting dairy drink is marketed as a product that helps every member of the family in their daily lives.This report details the most successful new CPG brands and the consumer benefits that have made them a success. IRI New Product Pacesetters are best-practice case studies in how to beat the new product odds.EXECUTIVE SUMMARYAn exceptionally high number of new product introductions over the past three years reflects the growing importance of innovation in manufacturer growth strategies; however, less than 2% of new brands earn $50 million or greater in sales.The most successful new food and beverage brands addressed evolving consumer health and wellness needs -- not only weight management and nutrition, but also disease prevention and management; food and beverage health benefits will become increasingly specific in the coming years.Snack bars and cereal remain the most productive food and beverage categories in Pacesetter introductions, but several major categories significantly stepped up the number of qualifying introductions this year, including salty snacks, beer, ready-to-drink coffee and tea, and bottled water.A substantial number of non-food Pacesetters offered game-changing benefits and positioning this year, raising the bar for future introductions; game-changers included automated home care, aromatherapy in laundry care and hair care, and "professional-caliber" personal care. Among non-foods, hair care had a remarkable year, with every hair care category significantly increasing the number of Pacesetters, and four hair care brands making the top ten list.A growing number of both food & beverage and non-food Pacesetters offer new varieties, including products targeting specific demographic segments, health conditions and dayparts; as the breadth of varieties expands, the need for relevant assortments becomes more critical.

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