The Nielsen Company monitors and analyses the launch and growth of new products, including food, in the USA Fast Moving Consumer Goods (FMCG) market. Their report for 2007 is out and shows that there were more than 122 000 new Stock Taking Units (STK) in the year.
from: The Nielsen Company
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The interesting thing is that of these only 3% of these were able to generate $ 1 million turnover a year, a very small “success rate”. From the other viewpoint, new food & beverage products did generate $ 9.8 billion of new sales in a sector turning over $ 600 billion / year.
The report notes that 9 of the top 10 products were “brand extensions” ie products that although they were new and different were linked to an already established brand.
