Are you preparing to launch new products? Harvard Business Review reports that 90% of new products fail within the first year, despite significant investments in research, development, marketing, and advertising.
To improve your chances of success, it's important to obtain consumer reviews as soon as possible. Here are ten reasons why consumer reviews are crucial for all new grocery products:
Reasons why shopper reviews are critical to new products are:
- Answering for shoppers: "Will I like it?"
- For instant shopper credibility
- You look like a bestseller
- Shopper read reviews for products they don't know
- The in-store opportunity
- Reap long term benefits
- Increasing popularity of reviews with shoppers
- Your competitors are growing reviews
- Actionable insights
- Avoid early delists