CHICAGO — The latest report in IRI’s “Recession-Proof Your Business”series takes a closer look at common themes among the most successful new CPG product launches and how they can be applied in the current environment.
Consumers are spending less time in the store and are changing their working habits, which fuels more in-home consumption that had been targeted for out-of-home. This makes it both more challenging to introduce shoppers to new products because they aren’t strolling the aisles of stores but also opens up opportunities for new products that support new consumer regimens.
“Innovation Lessons From the Great Recession to Apply Today” features learnings from 25 years of IRI’s eminent New Product Pacesetters™ research and offers specific strategies on how to approach innovation now as we manage through the COVID-19 pandemic.
Some highlights include:
- Focus on attributes that matter
- Develop clear and impactful positioning
- Define and execute against the RIGHT distribution
- Promote effectively in year one of launch and beyond
- Set realistic sales expectations
Find out what has elevated certain CPG brands in the market over the past quarter century and how those lessons can help your brand do the same.