CHICAGO: Almost 1,900 new consumer packaged goods products were launched in the US during 2012, with the top 200 achieving average sales of $39.5m, a new report has argued.
The 2012 New Product Pacesetters
report from IRI, the information company, looked at launches during the year, and found that 11% merited "pacesetter" status by recording more than $13m in first-year sales across all outlets.
These offerings had beaten "daunting new product odds," said Larry Levin, executive vice president, general manager, Insights and Thought Leadership, IRI.
The top 100 food and beverage launches secured an average $43.4m in sales in the first year, while the top 100 non-food brands managed to generate an average of $36.1m.
The report noted that new food and beverage brands "addressed long-standing trends around wellness, indulgence and convenience."
Dannon's Oikos yogurt was the biggest-selling new launch with $233.8m of sales, followed by Starbucks K-Cups coffee, on $198.3m, and Bud Light Platinum beer, on $162.2m.
Established trends were also evident among non-food launches. "Consumers want more results with less effort, ideally at a lower price point versus professional services, and Pacesetter non-food manufacturers really delivered in 2012," said Susan Viamari, editor of Times & Trends, IRI.
The top-selling non-food launch was Allegra, an OTC allergy drug, which recorded sales of $342.6m. Next was Colgate Optic White, a toothpaste, on $141.1m, then PetArmor on $126.4m, a flea protection medication for pets.
Viamari described the 2012 crop of New Product Pacesetters as "remarkable" products that were "leading the CPG industry into tomorrow."
They were, she said, "doing this by harnessing many and varied ingredients and technologies to deliver products that do things better with less effort; taste better, with enhanced nutritional value; and bring excitement, without breaking the bank".
Data sourced from IRI; additional content by Warc staff