With two-three years worth of NPDs hitting shelves simultaneously, how do you prioritise?

You follow the odds

This is a breakdown of each NPD’s sales in year two when compared to year one – are they growing, or shrinking?

NPD Survival Rates: Y2 performance, Total Grocery

Kantar FMCG Purchase panel, Year 2/3 Survival Rates Analysis based on 5 years of data up to 18th April 2021
Dead = <10% of Y1 sales value, Dying = 10-50% of Y1 sales value, Declining = 50-99%, Growing = 100-199%, Flourishing = >200%

Questions you should ask when considering NPD

The key behind any NPD’s success is for a manufacturer to have a clear objective in mind before it even comes to ideation. The answer to each of the below questions are critical to any NPD development:

What is the role of my NPD? Is it to generate long-term growth or a short-term win?

Am I trying to grow my share, the category, or just share of attention?

Am I innovating in a market ripe for growth?

Have I identified a specific person’s need or a changing consumer context I am addressing with this?

How is it meaningfully different to the competition?

Am I innovating in a connected way? Does it build upon my brand?

Finally, thinking about limited editions? With 2022 looking likely to be a bumper year for NPD, expect limited editions to take a back seat – there’s no need for new news products when there are a dozen more potential core SKUs waiting in the wings.