British Brands Group’s Post

Private Brands are becoming increasingly consumer-centric, prompting retailers to explore key areas of innovation to develop new concepts and opportunities for their product ranges.  The latest edition of the Daymon Innovation Report by Daymon International explores product concepts from previous editions that have become Private Brand items, all through the lens of Daymon's innovation pillars. If you would like to find out more about Daymon International and our services, please contact [email protected].     #Daymon #PrivateBrands #Innovation 

Private Brands are becoming increasingly consumer-centric, prompting retailers to explore key areas of innovation to develop new concepts and opportunities for their product ranges. The latest edition of Daymon International's Innovation Report explores product concepts from previous editions that have become Private Brand items, all through the lens of Daymon's innovation pillars. If you would like to find out more about Daymon International and our services, please contact [email protected]. #DaymonInternational #PrivateBrands #Innovation

🚀 The Decline Of Genuine Innovation? Mintel’s Global New Product Database (GNPD) shows that for the first five months of 2024, just 35% of global CPG launches are genuinely new products. This is the lowest proportion of innovation Mintel has recorded since it began tracking new products in 1996! Curious to learn more about this and how Mintel can help you at every stage of your innovation process? Let me know! Read the entire piece here: https://lnkd.in/e74SqAVN

🚀💡 Innovation in Retail 💡🚀 “Made in Austria” Is your Category Management up to speed with the latest consumer trends? Does private label innovation play a significant role in your category? Have you been struggling to innovate with consumer needs? Events like the #glaubandich STARTUP ACADEMY showcase the importance of collective effort to give new impulses for new product innovation in your category, as demonstrated by partnerships between #erstebank & #sparkasse together with #reweinternationalAG & #cleverclover. For 2 days, startups from the DACH region were able to leverage REWE International´s extensive network in areas such as: supply chain, packaging and design, USP evaluation, product development, go to market strategy, digital sales channels, finance, sustainability, co-creation, Food & Beverages Sales and last, but not least: #marketresearch #mintel. WHY is it important for retailers? “Real” product innovation is down in the first five months of 2024 . With 65% of all products being launched and tracked in Mintel´s Global New Product Database (GNPD) are under "renovation" i.e. are either line extensions, reformulations, new packaging or relaunches. – see full link here: rb.gy/d8g775. The challenge to “innovate” remains in 2024 but the certainty to co-create, collaborate and exchange different ideas, thoughts and concepts is omnipresent. To develop a thought into an idea, an idea into a concept we need “all hands on deck”. We are very grateful for this partnership and we are looking forward to many more years of successful implementation of consumer trends in retail. #startupevents #startupacademy #erstebank #rewe #billa #cleverclover #mintel

”The central question facing brands is how to shift their innovation mindset to long-term value creation for consumers.” This was an insightful comment on innovation among supermarket brands. The brand and retail landscape in the UK presents unique challenges, but competition is fierce everywhere. #FMCG #innovation

New product innovation growth has slowed globally in the consumer goods sector, and the U.S. has had some notable setbacks in particular. While economic fatigue caused by the COVID-19 pandemic can be partly to blame, it’s only a small piece of the puzzle, according to recent data from Mintel. Learn why, so far in 2024, just 35% of global CPG launches have been new launches while others have been line extensions, reformulations, new packaging, and relaunchings. https://ow.ly/iqZk50SKT7M #research #cpgindustry #consumergoods #innovation

Private Brands are becoming increasingly consumer-centric, prompting retailers to explore key areas of innovation to develop new concepts and opportunities for their product ranges. The latest edition of Daymon International's Innovation Report explores product concepts from previous editions that have become Private Brand items, all through the lens of Daymon's innovation pillars. If you would like to find out more about Daymon and our international services supporting global Private Brand growth, please contact [email protected]. #Daymon #PrivateBrands #Innovation

Innovation isn't just a buzzword; it's the cornerstone of success in the CPG industry. As the landscape evolves, so do consumer preferences, market dynamics, and technological advancements. That's why at Product of the Year, we understand that innovation isn't just an option—it's our driving force. Here's why fostering innovation is crucial for CPG success: 1️⃣ Meeting Evolving Consumer Demands: Today's consumers are more discerning than ever. They crave products that not only meet their needs but also align with their values. At Product of the Year, we're committed to identifying and celebrating innovative products that resonate deeply with consumers, whether it's through sustainability, health-conscious ingredients, or unmatched convenience. 2️⃣ Staying Competitive: In a crowded marketplace, differentiation is key. Innovative products set us apart from the competition, helping us capture market share and maintain our position as industry leaders. As the largest consumer-voted award for product innovation, Product of the Year recognizes and amplifies the most innovative products, giving winners a competitive edge in the market. 3️⃣ Driving Growth: Innovation fuels growth by opening doors to new revenue streams and business opportunities. Whether it's tapping into emerging trends, expanding into new markets, or leveraging cutting-edge technology, innovation is the catalyst for success. By partnering with Product of the Year, brands can showcase their innovative products to millions of consumers, driving awareness and sales. 4️⃣ Adapting to Change: The CPG industry is constantly evolving, and agility is essential for success. Innovation enables us to anticipate and respond to change proactively, ensuring we're always one step ahead. At Product of the Year, we're committed to staying at the forefront of industry trends and helping brands navigate the ever-changing landscape. Join us on our innovation journey as we continue to shape the future of CPG with Product of the Year! 💪 #Innovation #CPG #ProductoftheYear

Super interesting read from Mintel on FMCG! Innovation ambition has been declining significantly the past years. Although there were several good reasons to scale back on innovation, the outcome remains the same: Differentiation depends on Innovation. Without it, customers will be more inclined to search for cheaper alternatives. So the time to innovate is now! At Verhaert | Masters in Innovation, we are ready to listen to your innovation ambitions, give our honest view and help you turn your ambitious ideas into breakthrough innovations. Some quotes from the report "for the first five months of 2024, just 35% of global CPG launches (i.e. across food, drink, household, health, beauty, personal care and pet care) are genuinely new products. This is the lowest proportion of innovation Mintel has recorded since it began tracking new products in 1996."  "McKinsey has analysed Nielsen data to show that between 2016 and 2020, only 25% of the growth of CPG was driven by leading brands, with small and medium-sized brands capturing 45% of growth and private label, 30%." "in May 2024, almost a third (31%) of US adults admitted to buying more store brands over the past two months. Will those consumers automatically return to big brands once they feel more financially confident?" https://lnkd.in/eScMgYcJ

Anyone who works in FMCG has a story about an innovation challenge that has plagued their brand for years. 🧟 It starts as a mild frustration - maybe it was the wrong insight, poor articulation or unfavourable financials. 🤷♀️ After a while, it starts being an anchor to the brand, maybe slowing down growth or damaging brand perception. 😖 In extreme cases, the promise of cracking the innovation challenge becomes this mythical quest, passed down from one doomed team to the next, led by a new Ahab. 🐳 In other news, Brand Genetics recently helped a major FMCG manufacturer crack a challenge they had been working on for over 15 years! 🏆 Just saying! 😏 To find out how our Human-first approach can help with your innovation "White Whales" - get in touch. https://lnkd.in/eR_pFWn8 #humanfirst #innovation #fmcg