Research: The key categories where shoppers seek innovation
As supply chain disruptions from the pandemic subside, companies are shifting focus back to product innovation to meet evolving consumer preferences. A recent edition of the Consumer Digest looks at the leading categories where shoppers want more new options, are seeking functional benefits, clean ingredients, higher protein options and more.
Product innovation – Shoppers seek innovation across many categories
While Covid created a strong focus on on-shelf and in-stock fundamentals, supply chains have largely recovered which has enabled more opportunities for innovation in the CPG space. New preferences across categories and product attributes are starting to emerge.
Shelf-stable grocery, fresh bakery, and frozen food lead as categories where shoppers would most like to see new products available
Shoppers are seeking innovation to provide functional benefits, clean ingredients and higher protein options
With financial pressures top-of-mind, price and availability remain key decision drivers when trying new items.
Percent of shoppers who are extremely concerned (T2B) about these attributes when trying new products:
62%: In-store availability
61%: On sale
55% Coupon availability
Product innovation – New item discovery and purchase decisions
Shoppers discover new items in a myriad of ways and report a higher likelihood to purchase new products when they receive a discount or coupon to drive savings. The most frequent ways that shoppers report discovering new items to try is through in-store display, product advertisements and product coupons
47%: In-store display
45%: Product advertisements
42%: Product coupons
41%: On sale/promotion
41%: In-store signage
33%: Recommended by someone
23%: Product samples
22%: Social media
20%: Retailer website
The path to the next hit product lies in the complex motivations of the modern shopper. Product innovation is top-of-mind for many shoppers today, but financial prudence remains paramount. This presents both opportunities and challenges for CPG brands hoping to deliver the next big thing. To learn more about the nuances of consumer perspectives on new product discovery and purchase triggers, be sure to check out the full Consumer Digest report. By understanding the complete picture of preferences driving consumers today, CPG companies can develop winning innovation strategies that balance excitement with affordability.
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