Catalina seeks to improve new product success rates
Catalina, a firm specialized in shopper intelligence and personalized engagement, on Tuesday announced the introduction of Catalina New Product Accelerator, a solution that gives brands the ability to predict, track and accelerate sales performance across a scaled network of national retailers.
“During the first three to six months of a launch, marketers are flying blind when it comes to meaningful insights into how new products are performing. They have no way to make smart, data-driven decisions that can improve results," Jennifer Burke, president established brands for Catalina, said. "Our New Product Accelerator is a brand’s best asset in increasing new product launch success by providing actionable intelligence from day one.”
The new offering debuted at the Food Marketing Institute’s Midwinter Executive Conference. Catalina’s New Product Accelerator increases the success rate of new product launches with an end-to-end solution combining real-time forecasts of new product sales potential, real-time reporting of actual sales results and the ability to efficiently target and activate shoppers with omnichannel media to accelerate sales performance.
“Studies show that only 2% of new products achieve sales of more than $50 million in year one,” Burke said. “The Catalina New Product Accelerator leverages our shopper intelligence, scaled real-time data, and optimized media activation to fundamentally change the way brands address the challenges of launching new products.”
Catalina developed this solution to give brands unmatched pre-and post-launch performance insights and control over shopper engagement to drive sales, given that an estimated 85% of new product launches fail within the first year, the firm stated.
Based on the analysis of more than 15,000 previous new product launch campaigns, Catalina New Product Accelerator provides marketers visibility to understand buyer profiles and view the behaviors that are driving sales, track distribution and consumption, predict full-year performance results and enable the activation of course-correcting media to ignite sales with the right shoppers.
Working with New Product Accelerator, brands benefit from Catalina’s proprietary algorithms to predict and precisely target marketing campaigns to drive trial and awareness with the right consumers. It then executes their campaigns as product distribution expands to new stores within Catalina’s nationwide retail network and database of 505 million shopper IDs nationwide.
“During the first three to six months of a launch, marketers are flying blind when it comes to meaningful insights into how new products are performing. They have no way to make smart, data-driven decisions that can improve results," Jennifer Burke, president established brands for Catalina, said. "Our New Product Accelerator is a brand’s best asset in increasing new product launch success by providing actionable intelligence from day one.”
The new offering debuted at the Food Marketing Institute’s Midwinter Executive Conference. Catalina’s New Product Accelerator increases the success rate of new product launches with an end-to-end solution combining real-time forecasts of new product sales potential, real-time reporting of actual sales results and the ability to efficiently target and activate shoppers with omnichannel media to accelerate sales performance.
“Studies show that only 2% of new products achieve sales of more than $50 million in year one,” Burke said. “The Catalina New Product Accelerator leverages our shopper intelligence, scaled real-time data, and optimized media activation to fundamentally change the way brands address the challenges of launching new products.”
Catalina developed this solution to give brands unmatched pre-and post-launch performance insights and control over shopper engagement to drive sales, given that an estimated 85% of new product launches fail within the first year, the firm stated.
Based on the analysis of more than 15,000 previous new product launch campaigns, Catalina New Product Accelerator provides marketers visibility to understand buyer profiles and view the behaviors that are driving sales, track distribution and consumption, predict full-year performance results and enable the activation of course-correcting media to ignite sales with the right shoppers.
Working with New Product Accelerator, brands benefit from Catalina’s proprietary algorithms to predict and precisely target marketing campaigns to drive trial and awareness with the right consumers. It then executes their campaigns as product distribution expands to new stores within Catalina’s nationwide retail network and database of 505 million shopper IDs nationwide.