Launching a new food or beverage product is a complex and challenging endeavor that requires careful planning, innovative thinking, and a deep understanding of consumer needs and market trends. In today’s competitive landscape, where new products are introduced to the market every week, cutting through the noise and capturing consumers’ attention is harder than ever.
According to Gareth Turner, director of FMCG marketing firm Big Black Door, the food and beverage industry is facing numerous challenges, including climate change-induced spikes in commodity prices, geopolitical unrest impacting energy costs, trade disruptions caused by policies like Trump’s tariffs, and regulatory changes such as EUDR and CSDDD leading to reformulation and supply-chain shifts. This dynamic environment makes new product development a risky proposition for manufacturers, emphasizing the importance of getting it right and avoiding common mistakes.
One of the biggest mistakes that food and beverage brands make is innovating for innovation’s sake, without considering whether the product meets a real consumer need or adds value to the category. Turner emphasizes the importance of balancing creativity with commerciality and ensuring that the product solves a genuine problem for consumers.
Another common mistake is a lack of collaboration among relevant departments, such as R&D, supply chain, marketing, and finance, which can hinder the development and launch of a new product. Effective teamwork is essential to ensure a smooth and successful product development process.
Getting the product right is also crucial, as brands often design products that are more suited for the boardroom than for the retailer, shopper, or consumer. Turner warns against overcomplicating the product proposition, using language that consumers don’t understand, or pushing claims that don’t resonate with shoppers. It’s essential to create products that fit easily into consumers’ lives and meet their needs without requiring excessive education or explanation.
Successful brands, such as Finnish brand Lonkero and non-alcoholic beverage brand Lucky Saint, have demonstrated innovation by introducing original products that resonate with consumers and stand out in crowded markets. These brands have focused on creating aspirational and desirable products that redefine innovation in their respective categories.
Investing in a product’s success is another critical factor that many brands overlook. Building brand and product reputation takes time, consistency, and investment, and brands must be prepared to invest in seeding and scaling new products to ensure long-term success in the market.
To get a new product launch right, Turner advises being obsessed with the details and understanding consumer needs, the product’s fit in consumers’ lives, and the value it adds to retailers. Success often comes from persistence, experience, and resilience, as brands navigate the challenges of bringing a new product to market and establishing a strong presence.
In conclusion, launching a new food or beverage product in today’s competitive and challenging market requires careful planning, collaboration, innovation, and a deep understanding of consumer needs. By avoiding common mistakes, investing in success, and focusing on the details, brands can increase their chances of launching successful products that resonate with consumers and stand out in the marketplace.
