More new products were added to supermarket shelves than almost ever before, but many are cannibalizing sales of old product lines rather than expanding the market.
In 2007, 6,472 food, beverage and personal care packaged products debuted, up from 3,825 in 2006 and 3,408 in 2005, according to Mintel global new products database. That computes to almost 70 percent more new products over the past year. But sales have risen just 4.7 percent over the same period.
Chris Meredith, Leading Edge consultancy, who has advised multinational conglomerates in the food, mobile phone and banking sectors, s ...