Most major food manufacturers are developing new products based along three strategic platforms:
- Health & Wellness
As a buyer, these platforms should be prioritized to your business. For example, if your clientele is older & more affluent, new products that deliver strong health & wellness benefits are probably key to driving category sales & profits. Conversely, if you have younger, more time pressed clientele, new products that provide enhancements in convenience are going to deliver better results. Indulgence or intensely flavored products tend to do well in accounts that cater to a large ethnic population. Just remember – great taste is the ante to any successful new product
“How to Spot Blue Chip New Products?” series…
- Part 1 – What do best in class manufacturers do to develop winning new products?
- Part 2 – What should I be looking for in a new product?
- Part 3 – What should I delist to make room for new products?
- Part 4 – How can I get manufacturers to bring innovation to my Private Label business?