Globally, more than six-in-10 respondents (63%) say they like when manufacturers offer new products. But while consumers across the globe are enthusiastic about new products, their purchasing patterns vary widely.
Innovation matters. In the consumer product realm, it can drive profitability and growth, and it can help companies succeed—even during tough economic times. On the opposite side of the sales counter, consumers have a strong appetite for innovation, but they’re increasingly demanding and expect more choice than ever before.
Without a doubt, innovation is the lifeline of any consumer-centric business. It is also a race that many enter, but only a handful succeed. New product innovations are the manufacturers’ way of getting a bigger chunk of the ever-growing pie.