Frozen entrees and snacks from ConAgra Foods, Kraft Foods and Tyson Foods were among last year's top-selling new products according toInformation Resources Inc. (IRI).
Speaking from Las Vegas at its 2009 IRI CPG & Retail Summit, IRI released its annual New Product Pacesetters Report, which recognizes new items generating sales of more than $7.5 million in their first year. Among the top 10 new food and beverage offerings wereConAgra's Healthy Choice Cafe Steamers(generating $95 million in sales),Kraft's DiGiorno Ultimatefrozen pizza ($61 million in sales) andTyson Any'Tizers($59 million in sales).
"These brands are truly remarkable," said Anne Berlack, executive vice president with IRI's Consumer and Shopper Insights Practice. "Even in the best of times, approximately 75 percent of new products fail to earn more than $7.5 million during the first year of availability. In 2008, New Product Pacesetters faced unprecedented challenges and came out on top."
IRI said it measured total first year dollar sales across all food, drug and mass channels, excluding Wal-Mart.