Manufacturers recoil from innovation but consumers want it | WARC | The Feed
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Manufacturers recoil from innovation but consumers want it
Successful new product launches help companies expand existing brand portfolios, create new ones and cross categories, but a study shows a clear decline in the number of new FMCG products being launched.
That's according to Circanca's May 2023 report, Uncovering Europe’s Innovation Pacesetters.
Why innovation matters
New product development has always been a core part of the product strategy for FMCG manufacturers and retailers. While replacing a strong-selling core range product with a new launch on the shelf can feel like a gamble, there is no doubt that it can add immense value.
Still in the grip of...
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