UK Grocery Sector Wastes £30M Annually On Failed Product Launches: Study
The UK's grocery retail sector wastes an estimated £30.4 million on failed product launches each year, according to new research from E Fundamentals.
Commenting on this figure, category management specialist Bridgethorne says that food and drink suppliers need to work harder on the basics of demonstrating how new products will drive sales for retailers, online and in-store.
“The market is becoming increasingly competitive and suppliers need to prove the role that a new product can play in delivering category growth,” said Nick Kirby, Bridgethorne’s shopper, e-commerce and analytics director.
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