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Mintel says new products to play on the familiar, updated for today’s shopper
What will the breakthrough new products of next year be? Most likely something recognisable… with a twist. The trend experts at Mintel release their 2010 global Consumer Packaged Goods (CPG) predictions, saying next year’s new products will recreate the familiar.
“Post-recession, we don’t expect manufacturers to reinvent the wheel. Instead, we predict 2010’s new products will give shoppers something familiar paired with something new to better satisfy their needs,”states David Jago, Director of Trends and Innovation at Mintel. ” on retail store shelves, we expect today’s familiar megatrends – health and wellness, convenience, sustainability – to get a fresh, new makeover for 2010. “
Next year, Mintel predicts seven core trends will impact global new product development as manufacturers try to pique interest in new launches while keeping shoppers comfortable.
1. Symbol overload: Consumers are hungry for nutrition facts. However, people feel confused and sceptical about different companies’ nutrition symbols – indeed, in the UK nearly half (45%) of consumers find nutritional labels too cluttered. In response, more manufacturers will opt for clean, clear facts on front-of-pack statements in 2010.
2. Sodium reduction: Poised as the next major health movement, sodium reduction is finally ready to take hold. Indeed, 35% of UK consumers now consider low salt content when buying food. The key difference, says David Jago, is that “sodium reduction is being pushed by food companies and health organisations, not by consumers. “This could mean slow adoption of the “less salt”mantra by shoppers, even as the food industry moves ahead.
3. Local gets stretched: In today’s society, for many shoppers buying only local goods is a pipe dream. However, people still want products with recognisable origins and those that haven’t been shipped too far. In the UK 46% of consumers buy products from their own country when they can and 43% of US consumers claim they buy local when possible. In 2010, the definition of “local”will expand, becoming more practical for major companies to use and for mainstream shoppers to purchase.
4. Simple made special: Ready to get a kick out of buying ” ordinary”products like soap and juice? Well in 2010, chic packaging and premium positioning will turn today’s grudge purchases into enjoyable events. The recent trend towards boutique-inspired packaging highlights how manufacturers will make the mundane a little more special next year.
5. Colour coding for convenience: Cluttered supermarket shelves make it hard to find your favourite cereal flavour or shampoo variety? Not anymore. To help shoppers make faster choices, more manufacturers will colour-code their products in 2010. In the UK, 45% of consumers claim to compare products by their labels often and nearly two-thirds of Americans (64%) say they want colour-coded packaging, which also helps brands stand out.
6. Iconic budget brands: Private label “brands” are starting to look a lot more like brands. As consumers cut spending because of the recession, smart marketers ramped up promotions for their private label lines. Many shoppers now equate private labels with national brands and value them as such. In 2010, low cost, high quality private labels will thrive.
7. Gen Y cleans up: Generation Y (born between 1977 and 1994) consumers now make up 21% of the global population. While they grew up with tried and trusted established brands, this generation is now calling out for products of their own. Looking at the cleaning sector, there aren’t a wealth of Gen Y-focused cleaners on the market at present – but expect that to change in 2010. New products will highlight simplicity of use and quick, easy results to appeal to younger shoppers.
Mintel forecast 14 additional consumer packaged good trends for 2010. To receive the complete list, contact press@mintel.com or call Mintel’s press office on 020 7600 5703.