An average of 120 references are launched on the European consumer market every day. However, according to Nielsen Bases' Breakthrough Innovation Report, in the first half of this year, coinciding with the lockdown, the average increased by 46% to 175.
According to Celine Grena, the director of Nielsen Bases Europe, “the lockdown has had an impact on consumers. The bans on travel and entertainment away from home, in addition to the stress of the pandemic, created the perfect scenario for trying new products, as novelties have been one of the few things available to treat yourself."
Nielsen's report (based on their results between August 2018 and July 2020), confirms that the most successful novelties were references that consumers linked to pampering themselves, helping brands grow, and partake in a new category.
Likewise, almost half of them are products within the premium segment, which has been growing rapidly for some time. However, Nielsen has warned about what's coming in the current most vulnerable period, where it will be crucial to listen and be flexible in the face of changes in consumer habits.
The other great architect of the most successful launches was the so-called mindfulness. Thus, there is a growing trend among consumers to seek products of plant origin, vegan and sustainable; a concern that also extends to packaging. In fact, already 55% of Spanish consumers say that they check out if a product is eco, organic, or natural. More than 50% of the winning innovations comply with the maxim of a healthier lifestyle; in the previous report, it was only one in four.
This year's Breakthrough Innovation process reviewed more than 50,000 product launches in the European market in the last two years (August 2018-July 2020).
Source: revistaaral.com
