Chicago — Special K Pastry Crisps from The Kellogg Co., and Frito-Lay North America, Inc.’s Tostitos Cantina Tortilla Chips and Doritos Jacked were among the most successful product launches this past year, according to Information Resources, Inc. (IRI) 2013 New Product Pacesetters report.
With $100.6 million in sales, the Special K item was the third most successful product launch this past year, with the Tostitos item falling right behind with $100.3 million in sales, according to IRI. Doritos Jacked was the ninth most successful item introduced in c-stores during 2013, with $25.9 million in sales.
The market research firm notes the most prevalent claim made by new items in 2013 were added fiber and/or whole grains, which was found in 42 percent of products introduced.
Larry Levin, executive vice-president and practice leader, IRI, says: “Manufacturers are always striving to make breakthrough innovation, and our impressive list of the 2013 Pacesetters, which earned an average of $35 million in their first year, is no exception, as these products fuel accelerated growth and serve as catalysts for excitement in the CPG arena. New product innovation is more important than just dollars, though. It builds excitement, buzz and competitive advantage. Successful new products can establish and protect category leadership, as well as help companies break into entirely new categories.”