Innovation Barometer
by BASES
The Innovation Barometer, powered by BASES Innovation Measurement, quickly identifies, categorizes, and measures innovations, to bring you a monthly update on the most active players in CPG innovation, what’s up, what’s down, who’s winning, who’s losing and more.
July 2023 edition
What is the current state of innovation in the CPG industry?
BASES Innovation Barometer uses NIQ sales data to give you an overview of innovation activity and performance across six key super-categories: food, confectionary and snacks, beverages, alcoholic beverages, home care and personal care.
In our latest update, we see a drastic decrease across the total market with over 1500 less innovations launched compared to our previous update. When looking into individual categories, we see that innovations are down across the board compared to 12 weeks and a year ago – with Food, Confectionery & Snacks and Non-Alcoholic Beverages being the only categories showing increases.
Source: BASES Innovation Measurement, United States past 12 weeks until May 20th, 2023
When looking at the highest number of innovations sold on promotion, Non-Alcoholic Beverages once again holds the top spot in our latest update. Personal Care is showing the highest innovation average in velocity while Home Care continues to have the highest innovation contribution to total sales between all categories.
Category with highest number of innovations sold on promotion
Category where innovations have the highest average velocity
Highest innovation sales contribution to total value sales
Non-Alcohol Beverages
Personal Care
Home Care
Source: BASES Innovation Measurement, total innovations launched by brand owner. United States past 12 weeks until May 20th, 2023
Innovations have contributed to 7.2% of total sales between all six key super-categories, which is a slight decrease from our last update. We must also highlight Home Care for the fifth consecutive month as the category where innovations have contributed to over double the industry average at 17%.
Looking at Innovation Sales on Promotion, between all the categories, 27.5% of total innovation sales came from promotional pricing. This is an increase from our last update.
Source: BASES Innovation Measurement, total innovations launched by brand owner. United States past 12 weeks until May 20th, 2023
Looking at the most active brand owners in innovation over the past 12 weeks, Mars has overtaken Procter & Gamble for the top spot with 138 innovations launched. PepsiCo and Church & Dwight enter the top 5 of active brand owners in this month’s update.
5 most innovation active brand owners
138
Food + Confectionery & Snacks
Mars
121
Home Care + Personal Care
Procter & Gamble
106
Confectionery & Snacks
Mondelez International
103
Non-Alcoholic Beverages + Food
PepsiCo
72
Home Care
Church & Dwight Co., Inc.
Source: BASES Innovation Measurement, total innovations launched by brand owner. United States past 12 weeks until May 20th, 2023
Innovation market at a glance
Source: BASES Innovation Measurement ,total innovations launched by brand owner. United States past 36 weeks until March 2023
Overall, in comparison to the previous quarter, consumers are spending less on consumer-packaged goods with decreases in total sales by 4.1% and innovation sales at 11.8%.
The total number of products available in the market across all categories dropped in this update at a rate of 1.6%, while innovations saw an 1.5% increase in product availability.
The average eq price, in both total market and innovations, has seen a slight increase in Q1 at 0.4% and 0.1% respectively.
Overall, average item velocity and innovation item velocity both showed decreases this update at 1.6% and 6.8%.
Would you like to know more about how your category is performing?
Download previous month’s update
BASES
Success in today’s marketplace requires dynamic insights that give a complete understanding of the consumer—what they say, how they think, what they will do—in a quick, agile, and adaptable way.
BASES Innovation Measurement
Employ data-driven decisions using post-launch NIQ measurement technology to remain relevant with market trends throughout the development process while tracking and managing launch performance and investments at scale.