P&G, L'Oreal demonstrate knack for intros.
NEW YORK -- New products remain the lifeblood of chain drug retailing as recently introduced items revitalize a wide range of categories, drawing shoppers into stores from coast to coast.
Industry executives emphasize that new products are often among the best-selling items in the drug store trade class.
Market research shows that more than 30,000 new products are introduced into the marketplace every year, but only a small percentage are successful. And as retailers across the country scale back the number of SKUs that they stock in each category, more of the winning new products are coming from the largest suppliers.
For instance, recent sales data from Information Resources Inc. (IRI) shows that Procter & Gamble Co. has 18 of the 50 best-selling new items, while L'Oreal and its Gamier unit had eight of the 50 top-selling new products.
By far the most popular new products over the 13 weeks tracked by IRI were antiaging and wrinkle. fighting skin care formulas. Eleven of the 50 best-selling items fell into that category, including three of the top 10 sellers.
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|Title Annotation:||Procter & Gamble Co.|
|Comment:||P&G, L'Oreal demonstrate knack for intros.(Procter & Gamble Co.)|
|Publication:||Chain Drug Review|
|Article Type:||Brief article|
|Date:||May 25, 2009|
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