Posted by Filipa Silverio on Apr 13, 2021
What drives new product success and which competitors is it most likely to impact? These are first two topics.
Our third subject this week is the continued development of the premium sector even in 2020.
- There is a very close relationship between the value of a new product and the number of buyers that the launch attracts. Clearly tracking trial is critical in any launch phase and numbers of buyers should be a key part of target setting.
- In general new brand launches impact other brands and similarly new Private Label products impact other Private Labels – important insights when planning new launches.
- Compared with increases in the long term, the number of premium brands remained stable in 2020 but share for the sector continued to increase.