30,000 new products each year is a lot for anyone to think about, and it might seem hard to stand out in a sea that large. But, in reality, there has never been a better time for manufacturers to find breakthrough success with innovation.

A whopping 46% of consumers tell us they are more likely to try new brands than they were five years ago; a clear signal to a trend we should expect to intensify. Yet we see few signs that adjustments have been made to marketing initiatives or innovation pipelines to match these numbers.

Only 8% of global consumers are committed to the brands they purchase. That’s an alarming stat, and it highlights the challenge brands face as they seek to engage with consumers and retain them.