Highlight’s Post

As many of us our heading into launching new better-for-you products for 2024 we thought we'd share some useful tips from Brigette Wolf and Rachel Porges on #Innovation strategies for CPG brands! Watch the panel here: https://lnkd.in/ew_ehtXD Top takeaways include: --> Understand the role that innovation plays in driving growth strategies and leverage these to your advantage. --> What you must have in place to successfully pitch new innovation concepts to retailers and keep blocking shelf space. --> Top tips on de-risking product launches - early success indicators to pay attention to and not waste money on failed projects. #innovation #cpgmarketing #consumermarketing #growth #2024 #newproducts #newideas #retailmarketing

An interesting read from Jonny Forsyth and the team at Mintel, looking at how the Consumer Packaged Goods industry has moved from innovation towards renovation since 2019, how AI has lowered barriers to entry for new players, and how the Middle East, Asia and Africa are now innovation leaders in the industry.

Our Mintel Global New Product Database shows that for the first five months of 2024, just 35% of global CPG launches across food, drink, household, health, beauty, personal care and pet care industries are genuinely new products. 🛒 This is the lowest proportion of innovation Mintel has recorded since it began tracking new products in 1996.💡 Declining innovation comes at a time when big brands have just pushed through significant price increases, in many cases without offering consumers any additional benefits. 📉 This makes it easier for consumers to switch to private-label alternatives. For example, in May 2024, almost 31% of US adults admitted to buying more store brands over the past two months.🔁 Will those consumers automatically return to big brands once they feel more financially confident? Explore the decline in innovation and uncover the key drivers behind this trend ! ⤵️

Why do some new products have vitality while others fall short? 🤔 For those seeking new CPG growth opportunities, remember: it's not just about having a new product or its fancy features. It's about genuinely meeting consumer needs. 👪 Read below to unlock lasting innovation with three golden principles... and guess what? They all revolve around your consumer! #CPG #Innovation #GrowthMindset #ConsumerCentric

What are the key attributes in an investment-worthy brand in 2024? Hear the insights from Will Quartner of Prelude Growth Partners, in this special collaboration video between The Food Institute and SPINS delving into innovation and values within the CPG Industry. Watch the full video: https://lnkd.in/ex5wBKjN #cpg #foodindustry

At Groceryshop 2023, Unilever's CEO and President, Esi Eggleston Bracey, delved into how consumer diversity is driving product innovation. A standout moment was her exploration of Cardi B's unique influence in product development at Unilever. 💭 How do you think influential figures impact consumer trends and product development in your industry? Share your thoughts! 

In the food industry, innovation is key. A recent survey shows that nearly two-thirds of CPG chief executives feel their products are less innovative than competitors. To stay competitive, learn how to embrace a robust innovation pipeline, learn from challenger brands, and keep pace with evolving consumer trends — with Chief Outsiders Mike Concannon and Evan Eckman via Food Processing. https://bit.ly/3TQ37xe #CPG #BusinessStrategy #CEO

In the food industry, innovation is key. A recent survey shows that nearly two-thirds of CPG chief executives feel their products are less innovative than competitors. To stay competitive, learn how to embrace a robust innovation pipeline, learn from challenger brands, and keep pace with evolving consumer trends — with Chief Outsiders Mike Concannon and Evan Eckman via Food Processing. https://bit.ly/3TQ37xe #CPG #BusinessStrategy #CEO

An example of how diversity and innovation go hand in hand. At Groceryshop 2023, Unilever's CEO and President, Esi Eggleston Bracey speaks on driving product innovation by tapping (ahem Bronx Native) Cardi B to create Taste Combo's: a menu of delicious, nutritious and affordable recipes that incorporate veggies, lean protein and flavorful Knorr offerings, and can be prepared at home in under 30 minutes (for under $4 per serving). Not only is this team-up highlighting diversity, but they're speaking to the price (and time) conscious customer. Quick, affordable recipes that ALSO taste great. It's a win-win and a bang up collaboration if you ask me.

New reearch by Kantar provides guidance on how to innovate differently to drive business growth. The most successful innovators don’t work in a siloed way when thinking about innovation: they also think in a more connected way from the outset about the product and service, the launch advertising and the experience as part of the innovation process. Innovation experts from Kantar also recommend to focus on: — Deep human understanding — Brand centricity — Great creative that heroes your innovation — A focus on experience from the outset — Embrace technology but remember your innovation needs to connect with humans Analysis of Worldpanel by Kantar Top 10 new products of 2022 reveals the following best in class inspirational examples for successful innovation: McVitie's Blissfuls, L'Oréal Men Expert’s ‘One-Twist Hair Colour’, McDonald's, The Coca-Cola Company, Diageo's Baileys Liquor and GUINESS beer, and Pets at Home. #innovation #fmcg #cpg