Most product launches fail, but new technologies are helping to turn the tide. This Market Map looks at the companies offering market research tools like emotion AI and social listening to allow CPG companies like Nestle and Adidas to launch new products with more success.
Launching a new CPG product is a high-stakes game. In the US, 7 out of 10 new products are deemed failures, according to Nielsen.
Lack of product-market fit, bad timing, and misfiring innovation attempts are some of the top reasons for failed product launches, resulting in lost revenue opportunities.
To help reduce the risk of costly failures, market research and consumer insights teams at CPG leaders like Nestle, Pepsi, and Adidas are adopting technology to better identify emerging trends and improve product development.
This includes the use of AI to capture facial expressions, tech-driven ways of identifying trends, and tools to dig into customer behaviors.
Using CB Insights data, we identified 125 market research and consumer insights tech companies addressing 11 technology priorities for brands and retailers, from emotion AI to consumer insights platforms.