Dannon Light & Fit Greek Yogurt, Tide Pods and Monster Energy Ultra were recognized as New Product Pacesetters this week as Information Resources (IRI) unveiled the best new products of 2013 at its annual summit.
IRI recognized the top 10 products in three categories, food and beverage, nonfood and convenience store. The “Pacesetter” distinction is impressive given new product launches continue to experience a stubbornly high failure rate. For example, last year IRI said there were 190,000 new UPCs and 9,500 new brand launches at retail. The Pacesetter report offers a look at the best of the best new products that went on to experience exceptional first year sales.
“Manufacturers are always striving to create breakthrough innovation, and our impressive list of the 2013 Pacesetters, which earned an average of $35 million in their first year, is no exception, as these products fuel accelerated growth and serve as catalysts for excitement in the CPG arena,” said Larry Levin, EVP and practice leader at IRI. “New product innovation is more important than just dollars, though. It builds excitement, buzz and competitive advantage. Successful new products can establish and protect category leadership, as well as help companies break into entirely new categories. In short, they are game changers for CPG companies and consumers alike.”
Click here to view the top 10 products in each of the three categories and the full Pacesetter report.