The survey of 2,000 UK adults, carried out by marketing agency Five By Five, found that more than a third of consumers (35%) had heard about a new grocery product only to be unable to find it in the store. Three-quarters of those polled said they were excited about trying new products, but only 28% could name a product launch they remembered. However, 10% of consumers said they had waited in line at the grocer or supermarket to buy a new food or drink product.
“The appetite for new products and services is clear for all to see, especially in the FMCG world, and a great launch should be the springboard for success,” said managing director of Five by Five, Jo White. “However, the fact that so few have been truly memorable shows there’s a huge opportunity for brands in this area. There’s also a concern when brands put time and effort into their launches but the sought-after new products then can’t be found in the store.”
Two-thirds (67%) of those surveyed said were more likely to buy a new grocery item if they had tried it first, with 45% saying they were encouraged to buy something new due to special offers and promotions. But existing trust in food and drink brands was important too, with 24% of respondents saying they tried new products coming from brands they already liked.
The research found that consumers liked seeing the revival of old brands, like the relaunch of Cadbury’s Wispa chocolate bar in the UK, for example – but 9% said these relaunches were poorly executed. The survey found that one in five consumers saw them as “cynical attempts to cash in on nostalgia”.
Most people decided whether to buy a new product based on whether they needed it, rather than how it made them feel, and women were more likely than men to take this approach.