Abstract
Overview
Introduction
Innovation is a major driver of growth yet statistics suggest that around
80-90% of all new products fail and industry executives are generally
disappointed in their ability to stimulate innovation. This report is designed
to help by effectively aligning NPD activity with substantive consumer trends.
It does so by identifying ' on-trend' opportunities that arise from the
convenience mega-trend.
Scope
- Identifies consumer needs and ' on-trend' product and marketing
opportunities that arise from the constantly evolving convenience consumer
mega-trend.
- Global coverage: offers examples of ' on-trend' innovation from across the
globe both within and outside of consumer packaged goods.
- Detailed recommendations and interpretation offering practical strategies
based on the trends and insights uncovered in the report.
- One of a series of six trend specific reports designed to help FMCG
companies innovate more successfully.
Highlights
One of the major problems associated with innovating successfully is capturing
consumers' imagination. The annual US based "Most Memorable New Product Launch
Survey 2007" found that even among those with strong brand names, 77% of
respondents could not name one of the top 50 new products of 2007 on an
unaided basis.
The convenience mega-trend reflects the increased time pressures, stresses and
work-life balance problems that consumers increasingly experience. A desire to
overcome the pressures of a hectic lifestyle and free up time for leisure
activities or relaxation are the main drivers for sales of goods that provide
consumers with convenient solutions.
Four core issues deal with the topical aspects of convenience for consumers,
namely: the speed which a consumer can utilize a good or service; the
locations in which it is possible to do so; the size of the product; and the
way the product is delivered to the consumer through the packaging. Successful
products deliver in many or all of these.
Reasons to Purchase
- Ideation and inspiration: spark new ideas by learning from innovative
on-trend products and marketing campaigns in the FMCG industry.
- Trend understanding: familiarize yourself with the key convenience related
sub-trends that should be driving NPD and marketing efforts.
- Understand the most pertinent opportunities to drive brand growth and NPD
investment.
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