The boom in Greek yogurt sales may be leveling off, but Americans remain interested in new varieties, based on the fact that four of the 10 bestselling new food and beverage products last year were Greek yogurt SKUs. That’s one of the revelations found in the just-released IRI New Product Pacesetters report by Information Resources Inc.
The Chicago-based research firm tracks the popularity and sale of consumer packaged goods in US supermarkets, convenience stores, drugstores and mass discounters, with its latest annual report looking at CPG sales in 2014.
Oscar Mayer’s Lunchables Uploaded sub-brand, which introduced new menu items such as pizza and sub sandwiches for the Kraft-owned brand, was the No. 1 first-year product in the New Product Pacesetters, with 2014 sales of $143 million.
Cottonelle Ultra Comfort Care toilet paper by Kimberly-Clark, a new variety, was the No. 1 product in the top 10 non-food brands.
IRI noted that the US CPG marketplace has seen significantly slower growth since the recession ended in 2009, underscoring the Pacesetters’ achievement in being able to successfully break through the slump.
“They effectively embraced the 4 Ps of marketing to capture significant sales dollars in a very conservative marketplace,” said Larry Levin, EVP of mid-market for IRI. “Revenue is just one piece of the pie. These marketers also did a phenomenal job in building brand equity and excitement in the marketplace, catalyzing growth that stations them ahead of the competition.”
Chobani Simply 100, with first-year sales of $121 million, landed at No. 3 as the top-ranking Greek yogurt Pacesetter. Activia Greek yogurt followed at No. 5, with Chobani Flip at No. 6 and Yoplait Greek Blended at No. 10, with $69 million in sales.
Meanwhile, Procter & Gamble “transformed routine personal care into an opportunity to stand out from the crowd” with two new Old Spice lines: Wild Collection, which landed at No. 7 on the list, and Re-Fresh.
“Today’s consumers expect more from their favorite CPG brands,” stated Susan Viamari, editor of thought leadership for IRI. “They want products that save time and energy, products that offer better and longer-lasting results. CPG manufacturers that highlighted and delivered on the expectations for bold and authentic taste and top-notch power and performance were rewarded with sizeable launch-year returns.”
Among other findings by IRI at the year’s top CPG products and trends:
• Seventeen percent of consumers are new product enthusiasts – meaning they identify themselves as people who are always on the lookout to try the latest and greatest products.
• Thirty-two percent (first place) of new product enthusiasts are in the category of food while beverages are tied for third place at 17 percent.
• From 2009 to 2014, there has been on average 2.2 more benefits (38 percent rise) per consumer packaged good.
• Sixty-one percent of food enthusiasts claim the primary driver of new product purchases was indulgence without having to pay restaurant prices
• Fifty-seven percent of beverage enthusiasts say that options which are truly new and unique are their drivers for purchase.
• In 2014, 53 percent of new brand entries came from food and beverage, driven by the quickly changing pace of consumers’ palates.
• Sixty to 80 percent of new product launches fail.
• Eighty-five percent of American household needs are consistently filled with the same 150 items.
2014 New Product Pacesetters: Top 10 Food and Beverage Brands:
Lunchables Uploaded ($143.2 million in year-one sales across multi-outlet)
Bud Light Lime Straw-Ber-Rita ($128.6 million)
Chobani Simply 100 ($120.9 million)
DiGiorno pizzeria! ($90.2 million)
Activia Greek ($86.5 million)
Chobani Flip ($83.2 million)
Red Bull Editions ($83 million)
SkinnyPop ($76.4 million)
Redd’s Apple Ale ($75.1 million)
Yoplait Greek Blended ($69.4 million)
2014 New Product Pacesetters: Top 10 Non-Food Brands:
Cottonelle Ultra Comfort Care ($269.6 million in year-one sales across multi-outlet)
Gain Flings! ($169.9 million)
Nasacort Allergy 24HR ($139.2 million)
Arm & Hammer Clump & Seal ($103.5 million)
DayQuil/NyQuil SEVERE ($91.9 million)
Tidy Cats with Glade ($81.4 million)
Old Spice Wild Collection ($72.4 million)
Duracell Quantum ($72 million)
Cascade Platinum ($64.4 million)
Tidy Cats LightWeight ($62.5 million)
Source: IRI Market Advantage