SMUCKERS Innovation Overload
According to AdAge, the Ohio-based and family-owned, J.M. Smucker’s Co is planning to unveil nearly 90 NEW Products in the coming year.
From the article:
Planned offerings include a new line of “Life is Good” branded premium coffee, peanut butter in tubs and an expanded lineup of specialty nut butters. In total, Smucker projected that products introduced in the past three years are forecast to contribute $550 million in net sales, or 10% of total sales, “representing the most robust period of innovation in our company’s history,” CEO Richard Smucker said in a presentation on Tuesday at a meeting of the Consumer Analyst Group of New York held in Florida.
Much of the companies new product development has come from the recent acquisitions of Folgers and Jif, giving it a lead in these markets. And what are a few of the new products we can expect to see on local grocery shelves…
- Folgers Fresh Breaks single serve packets/Kcups and premium flavors like Black Silk to compete against Starbucks
- Dunkin Donuts bagged coffee “bakery series” with flavors like blueberry, jelly and chocolate
- “JIF Whips” for quick snacking and dipping apples, fruits and crackers in PB
- Expansion of Mio flavored water
With so many new products, do you think their strategy will be successful?
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