Blast out of the starting blocks with your hot new product at high ACV distribution and pile in the promotional cash, and you’ve got a fighting chance of reaching that magic $100m in year one sales. You’re innovation dynamite: an IRI new product pacesetter.
Consumers are becoming less interested in mid-market products, and are trading down for basic groceries and trading up for premium brands that matter most from an emotional and social perspective, says a new report from Rabobank.
From 2000 to 2007, around 34-36m Americans were classified by the government as ‘food insecure’. In 2008, that figure shot up to 49m, where it has stayed, stubbornly, ever since. And almost 17m of them are children.
Industry efforts to reduce and/or remove trans fats from food products have led to progress, but this progress is slowing, and the industry must continue its effort to reformulate, says a new report from Harvard School of Public Health.
From Nike’s Bill Bowerman being inspired by a waffle iron, to studying the behavior of herding cows for the redevelopment of Times Square, cross-pollination of ideas from different fields can generate big rewards.
While four out of 10 consumers say they are trying to avoid or reduce intakes of certain fats and oils, cholesterol, sodium and sugar, only one in 10 actually looks for this kind of information on menus when dining out, according to NPD Group.