By Simon Callender, creative planning director at Initials2021-04-28T09:19:00+01:00
Source: Unsplash
With the prospect of better times ahead, there will likely be an avalanche of new product launches in 2021
The pandemic has had a marked impact on product launches, with budgets cut, briefs slashed and NPD projects stymied.
With the prospect of better times ahead, there will likely be an avalanche of new product launches in 2021. But as competition increases, so too does failure. According to Nielsen, 76% of all fmcg brand launches flop.
At the same time, how, when and where we shop has fundamentally changed.
McKinsey has shown 36% of consumers are actively trying new brands, while shoppers spent £1bn more with supermarket brands in January 2021 than they did in January 2020.