The following article was published by FLEXNEWS, a food and beverage trade news source.
On the occasion of its recent Q3 2013 earnings call, PepsiCo announced that of the top 25 new food and beverage product introductions across all measured U.S. retail channels year to date, six were PepsiCo products – more than any other company. Moreover, seven new PepsiCo products this year (four in beverages, three in food) are on pace to achieve USD 100 million each in annual retail sales in the U.S.
PepsiCo has invested in R&D and new capabilities to drive innovation across its portfolio in recent years, and the company points to these new product successes as evidence that its strategy is yielding impressive results.
The company’s retail customers agree.
“PepsiCo has knocked it out of the park with new product innovation this year,” said Joe DePinto, president and chief executive officer of 7-Eleven, the world’s largest convenience store chain. “Across both snacks and beverages, they’re consistently bringing great new products to the shelf.”
Another key driver of PepsiCo’s success has been its continued focus on accelerating the benefits of what the company calls the “Power of One.” Being an integrated food and beverage company enables PepsiCo to better serve consumers and customers. Taco Bell is one example, as PepsiCo has partnered with the restaurant to create successful food and beverage innovation.
“Doritos Locos Tacos, the biggest launch in Taco Bell history, would not have been possible without the strong partnership we have with PepsiCo,” said Taco Bell CEO Greg Creed earlier this year.
... So why is PepsiCo successful with its new launches?
Read the full article, including an interview with Simon Lowden, chief marketing officer, PepsiCo North America Beverages, and Ann Mukherjee, chief marketing officer, Frito-Lay North America.