80% of new product volume is driven by just 0.7% of shoppers!
Did you know that only 0.7% of shoppers are driving 80% of new product volume for the first year? And that among those trying a new product in the first six months, only 11% continue to buy the product after a year? 1
These Catalina study findings1 just further emphasize how important new product launches can be, as we have seen this number shrink over time, becoming more and more narrow. It is not just about the first few months, but keeping those early triers engaged throughout the launch phase and beyond. The key questions that marketers continue to ask are:
- “How do I get a quick read on results in order to make key strategic decisions quickly to ensure my customers are continually engaged?”
- “Why do repeaters return and what are their future purchase intentions?”
- “Why do one time triers not repeat their trial of our launched product?”
How do we recruit these very, very important consumers? Well, finding that needle in a haystack of new triers (the 0.7%) can be quite difficult. We however, have a solution based upon our decade-old partnership with Catalina utilizing BAR®: Behavior Activated Research. BAR® is a smart-targeting technique that recruits respondents based upon ACTUAL purchase behavior where we can easily recruit consumers at a time of very low incidence. If they have purchased your product within the Catalina network of stores, we can find them!
Finding these consumers is much easier and quicker than you think!
Please contact us now to learn more about BAR and MSW•ARS’s other innovative research techniques!
A copy of the full Catalina report can be found at www.catalinamarketing.com/newproducttraction
1“New Product Traction Through Targeted Shopper Interaction: How New Product Success Hinges on Small Concentration of Shoppers” report by Catalina (released 8/19/2015).