New products have little impact on consumers

By Sarah Hills

- Last updated on GMT

Related tags: Brand, Retailing

The majority of consumers can’t remember any new products that have been launched in the last year and appear unwilling to risk their money on trying something new, survey results showed.

Americans are less aware of recent launches than ever before as 69 percent of respondents could not remember a single new product launched in 2008, according Most Memorable New Product Launch Survey (MMNPL), conducted by Schneider Associates, Mintel International and IRI.

The survey respondents were given a list of 50 new grocery, personal and beauty care, technology and toy products from 2008. However, of the products most frequently remembered, five were new twists on familiar food and drink.

They were Bud Light Lime (remembered by 15 percent or respondents), McDonald's Southern Style Chicken Biscuit & Sandwich (14 percent), Kraft Mac & Cheese Crackers (13 percent), Gatorade G2 (11 percent) and Yoplait Fiber One (11 percent).

Julie Hall, Vice President, Schneider Associates, said: “Consumers recalled new product launches from brands they know and love. McDonald’s, Kraft and Bud Light are trusted brands that gave people a new variation on something familiar.”

Familiarity wins

The analysts concluded that the consumer habit of “sticking to what they know”​ explained the prevalence of familiar food and drink brands on the survey winners list.

Char Partelow, senior vice president, Panel Consulting Group at IRI, said: “Because many people can only afford the basics, they’re sticking to what they know, products and services that bring them comfort.

“We found that ‘a trusted brand name’ ranked as the number one quality respondents looked for when buying new products.

“Many Americans are simply less interested in ‘risking it’ on a new product.”

The seventh annual Most Memorable New Product Launch Survey was conducted online among 1,000 adults during September.

Mintel International is a global supplier of consumer, product and media intelligence. Schneider Associates is a marketing communications agency and Information Resources, Inc. (IRI) provides consumer, shopper, and retail market information.

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