The role and benefits of innovation in a category has been a roller coaster journey for many suppliers and retailers.
In light of CV19, the question of ‘to go ahead or not’ is more relevant than ever.
Brands are weighing up:
- how to keep category interest for consumers and shoppers
- if shifting spend to the core to optimise hero brands will deliver a greater ROI
- the commercial benefits of keeping things operationally simple for retailers
- whether OOH volumes from innovation can be shifted to In Home channels and which shopper programmes, (bricks or clicks), can be turned on
- the wider scope of innovation and what it could look like beyond new product development.
Almost every company pursues innovation with a view to keeping shoppers engaged in the category, especially when faced with the ongoing challenges of declining brand loyalty and the rise of unconventional competitors. While innovation is key for companies to differentiate themselves from competitors, few are creating new, viable business offerings that drive value.
However, companies often neglect the fact that disproportionate innovation can actually hurt overall growth, by shifting resources away from supporting existing winning products. Those unproven solutions take resources such as marketing, visibility, promotional slots, sales team support and management attention away from proven winners.
The three principles we believe are at the heart of successful innovation are:
Optimise your hero brands:
- NPD disproportionally shifts resources (for suppliers and retailers) away from supporting existing winning products that haven’t yet reached their potential.
Innovate beyond product:
- total innovation increases the likelihood of surpassing competition. Build your organisation’s total innovation capability and include packaging, commercial propositions, ability to launch and work with customers across all functions and operational processes.
Store back innovation:
- determine what new products can win with shoppers and how many can realistically be implemented in stores. Work backwards to develop these products and solutions. This is changing faster than it ever has, so to win, re-imagine the next normal.
In your category, and business, is it ‘Innovation VERSUS the core’ or is ‘Innovation THE Core’?
News and stories
SEE ALL
Growth loves action: why movement beats perfection every time
Growth doesn’t come from perfect plans, it comes from action. Businesses that commit to progress, learn from real-world feedback and keep moving forward are better positioned to build momentum, gain clarity and achieve sustainable growth. In fast-changing markets, movement beats perfection every time.
Quantic’s guide to achieving your growth ambitions
At this time of year, many of us start to plan our personal goals and ambitions for the year ahead — more time with the family, getting super-fit or finally...
Why Joint Value Creation is the new superpower in Supplier-Customer Partnerships
Is your customer team fit for the future?
Customer teams are delivering the basics, but retailers now expect true business partners who bring ideas, anticipate change and create joint value. Quantic’s Customer Accelerator embeds experts into your team to build deeper insight, multi‑year growth plans and clear execution drivers that strengthen partnerships and deliver measurable growth.
May is the moment: stop managing. Start multiplying.
Many teams lose momentum in May. Energy dips, focus fragments, attentions turn to much needed vacations and the second half starts to drift before it begins. So here’s the question: are you setting up H2 results or quietly slowing them down? Right now, many leaders are still managing, which won’t get you where you need to be at the year end.