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New Product Introductions

There is a steady stream of new product introductions. The surge in online shopping has added to the influx of new products vying for consumer attention. It is easier than ever to introduce a product to the public through turnkey websites and online marketplaces. Along with home-based businesses and entrepreneurs, national and international companies are also constantly introducing new products.

eBay, Esty, and other online portals gave a platform to homemade, handmade, and small business products. These online marketplaces attract thousands of shoppers per hour supplying potential sales for products that would never be seen in the past.

The Staggering Numbers of New Products

According to NielsenIQ, “The consumer-packaged-goods (CPG) market is bursting with new products. Incredibly, an average of 30,000 new products launch each year.”  Along with the introduction of new products by national and international brands, they repackage older products and reintroduce them as new. “New and improved” are advertising catchphrases used to attract consumers to try a product again or reignite their interest in an old stalwart. 

As more startups receive crowdfunding and angel investor funding, they are able to launch products on a regional basis. The hope is that the product will catch on with consumers in a certain geographic area, receive rave reviews and pave the path to wider distribution. 

Reshaping New Product Launches

This method of introducing new products is a rehash of an old marketing strategy used by companies for decades. Product launches by major brands would never be seen throughout the nation. Companies would release products in a favorite “test” market city or region. 

A favorite test city in the days of the Admen, late 1950s to 1960s was Peoria, IL. In the hallways of Madison Ave. ad agencies, the motto was, “if it sells in Peoria, it will sell anywhere.” Consumers in Texas, California, New Hampshire, or anywhere else would never see products that failed in Peoria.

In the age of social media, the “Peoria” for new products is a diversified marketplace represented by online consumers. Reviews by consumers and going viral means “success” for a new product. 

To try to elicit a viral response, manufacturers, producers, and brands both large and small were willing to give free products to influencers. The hope was that the influencer would post a rave review and spark interest in the new product.

Everyone is a New Product Influencer

In the early days of social media advertising and marketing agencies and departments would search out those with the largest number of followers and get their new product into their hands. This new way of introducing products was a success. Influencers gained power and prestige and began signing exclusive deals with brands. 

In life and business, the circle goes unbroken. The democratization of new product introductions fell by the wayside. Companies with the most financial assets could buy the biggest influencers, leaving new product introductions out in the cold. Gathr is giving a voice to new products. Members of Gathr receive free samples of new products in exchange for their reviews. Boxes of free curated sample products are sent based on demographic information and interests of the Members. Everyone at Gathr is an influencer for new products.