Despite the recession, there is no shortage of new products being introduced. In the consumer packaged goods industry, new products accounted for revenues in excess of $21 billion. According to Facts, Figures and the Future, the segments with the largest numbers of new product launches last year included:
- Snacks 3,619 (products or extensions)
- Office/School supplies 8,136
- Candy 5,133
- Paper products 4,274
Each of these new products should have been accompanied by an ad campaign or marketing update. Review the rest of the list and then meet with your retailers, distributors or manufacturers operating in these segments and discuss how they are planning to market products in 2009.
[Source: Facts, Figures and the Future, February 2009]