How to measure innovation success beyond sales?
Sales alone are not the sole measure of success when a brand launches a new product. To truly understand the value of innovation, we need to understand its category impact—and that means measuring incremental innovation.
That’s what we did in our new thought leadership release Innovating for growth. The publication highlights that of the 107, 968 product launches that have been in the market for at least a year, only 1,825 have made it to the top, achieving a market penetration of 1% or reached 500,000 households. Of these “top launches”, just 43% had a positive impact on category sales, indicating how difficult it is for launches to be successful.
Below shows the country comparison of positive versus negative launches across the countries evaluated for this study:
Within this report, we analysed 1,825 “top launches” to find out what successful product innovations have in common and how these can be a growth lever for brands. We also go through the different innovation drivers with plenty of case studies and some country-specific examples including Vietnam that brands aiming to grow through incremental innovation will find very useful.
Discover all the findings in our webinar hosted last month or download the report by clicking on the link in the right of this page.
Let's stay tuned for the Innovation report for Vietnam exclusively, where we will share more inspirational innovations from FMCG brands and what makes their success in the coming months.