Nielsen: 76 percent of the newly introduced goods fails in the first year

Thousands of new products that are introduced to the market fail in the first year and cause losses to the manufacturers, who could make the process profitable if they would treated their innovations differently – the European report of the Nielsen consumer information and knowledge services company determines.

The “Breakthrough Innovations” study of Nielsen studied the retail turnover of 61 thousand article elements of 12 thousand kinds of new products in the food, household chemicals and cosmetics category in Europe since 2011. Among other things, the Nielsen revealed that less than 10 thousand units have been sold from two thirds of the novelties. Three out of four new products disappears from the product range after the first year. (Nielsen)