Winning brands 2019-2023 – Part 2
A closer look at their innovation activity
Brands that have lost share since 2019 continued to launch new products
The vast majority of brands introduced new products and/or new variants between 2019 and 2023. Surprisingly the brands that lost share over that period launched more new SKUs than the top winning brands – both in terms of new brands/sub-brands and new variants.
Brands that have lost share since 2019 continued to rely on new products
Not only did most brands introduce new products and/or new variants between 2019 and 2023, they also relied on these launches – sales of products in the first 12 months after their launch typically accounted for more than 10% of yearly brand sales. This was just as true of losing as well as winning brands.
Brands that have gained share since 2019 got more from their new products
The key difference between winning and losing brand launches is that winners gained more share per introduction. This was especially the case for the more major introductions (index 1.5) but also was true for the more minor new variants (index 1.2). Rather than churning out new SKUs it seems worthwhile to make sure these new products provide meaningful benefits to shoppers.
