Introducing product innovation to retailers typically means taking away from existing portfolio for the brand. To prepare for a successful NPD launch, the marketing team at a leading FMCG brand in personal care turned to our category analytics team for support.
With our RichMix data analytics solution, we helped this team analyse their portfolio by brand and segment to provide a current performance baseline. We determined these values by channel to further customise the insights.
Once a baseline was set, multiple potential scenarios were modelled quickly and at scale to identify how their NPD would perform within each format, and pinpoint the biggest sales growth opportunities.
The NPD analysis demonstrated the strength of their overall portfolio as well as new product. It also provided accurate growth scenarios that justified taking space from competitors rather than the brand’s own existing portfolio (as typically expected).
The marketing team was able to provide custom assortment plans that led to growth for their brands and the category. Their brand outperformed the competition across 3 out of 4 formats in terms of incremental value.
They also gained a more in-depth understanding of their overall portfolio performance and were able to loop in feedback to their future innovation roadmap, which helped them better prioritise for growth through NPD.
NPD entry scenarios:
- 2 x NPD: Predicted nearly €1M Supplier growth above trend
- 3 x NPD: Predicted €2M Supplier growth above trend