WANT TO IMPROVE YOUR INNOVATION SUCCESS RATE? ASK A RETAILER

When I worked for big CPG, we rarely showed our early innovation pipeline to any retailers to get their feedback. The rationale was that we didn’t want to tip our hand or often we thought it was too early to show just concepts versus actual product.

When we did bring innovation, it was ready to launch and too late for the retailer’s input.

Missed opportunity.

When our clients decide to test their innovation, or even if when it is still in concept form, we reach out to retailers in those categories on their behalf and get the retailer’s honest feedback. It’s amazing the type of practical advice and wisdom they offer which has always led to an product improvement

Here are 3 ways retailers can strengthen your innovation

1)      The whole is greater than the sum of the parts

Retailers think category first and then brands. Their main goal is to drive traffic and sales for their entire category. With a category-first lens, brands need to consider their role in the effort to drive category sales. If your innovation is just there to cannibalize other brands, it doesn’t work for the retailer. If the idea is too niche, it also probably won’t work, even if you found a sliver of the population who wants the product

2)      Packaging can make or break a new product

Often brands create packaging that tests well in focus groups, but often falls short when it sits on the shelf. Retailers can tell you early before you launch how it will be perceived on shelf when it’s in context with other brands.

Recently, our client created a new line of better-for-you snacks. They are currently the leader in the category with a strong brand block in the set. The new items were in the same package, same color pattern as the parent brand but were difficult to see their uniqueness. The retailer had two very practical suggestions to make changes to the packaging color pattern. The client agreed and we were able to pivot while still in test to make it stand out on the shelf. Just by changing the color of the packaging the shopper can quickly understand that this new product came from the iconic brand manufacturer but was something new and different – and would have a better chance of bringing in new consumers to the category.

3)      Retailers will tell you what it takes to be successful

Everyone benefits if innovation is successful, so retailers won’t hold back on what it will take to win in the category. The problem is that no one is asking! They will be forthcoming on promotion, pricing, and placement and the overall product. They often will be flexible on their margin requirements if the product is poised to bring in new users, trade consumers up, or expand consumption.

So, next time you’re working on innovation, ask the retailer their opinion early in the process- or better yet, let Mission Field ask on your behalf to improve your innovation success rate.