Monetizing Innovations in the Consumer Goods Industry - Webinar
Millennials are not brand loyal. Gen Z are even more fickle. To stay relevant with these younger generations, brands HAVE to innovate… but 72% of all new products are flops.
Every year, companies spend billions on R&D hoping to develop the next breakthrough innovations. Amazon spent $22B or 13% of sales on R&D in 2017. Apple spent $11B or 5% of sales on R&D. In contrary, the traditional CPG companies spent significantly less and continue to struggle in driving sustainable topline and bottom-line growth.
The stakes are high. With a R&D spend at 0.4% of revenue, among the lowest in the industry, Kraft Heinz stock is currently priced at 25% below its IPO price in 2015. Still, in 2017, Kraft Heinz spent $93M in R&D, which is not a trivial amount of money.
How can Consumer Goods companies better monetize their innovations? This webinar will discuss:
- The best-in-class monetizing innovation framework
- What are the best-in-class examples in Consumer Goods?
- Is subscription the right path to driving share of wallet and loyalty for your product?
- Should you sell your new products everywhere or only in select channels?