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US Data Shows New Food Product Introductions Declined In 2009, Private Label Gains

May 24, 2010: 03:29 AM EST
After a 23% increase in new product introductions for the US between 2006 and 2008, Mintel International Group reported a 20% drop in 2009. The decline in brand new products is driven by SKU reductions on the part of retailers and a decline in new product launches from smaller manufacturers. Notably, while private label launches also fell last year, they did so at a slower rate than those for brands. Mintel highlighted PL’s increasing share of new food products, which has jumped from 16.6% in 2006 to 24.7% in 2009. Lynn Dornblaser, director, CPG Trend Insight, Mintel International Group, points to PL’s growing power: “There's less loyalty to brands, because benefit loyalty is replacing brand loyalty. Consumers want their needs met. If PL can respond, consumers are less likely to go back to brands.”
DAVID ORGEL Editor-in-Chief david.orgel@penton.com , "How Private Label Gains in New Products Contest", Supermarket News, May 24, 2010, © Penton Media, Inc.
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