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What will next year's hot new products look like? According to the trend experts at Mintel International Group, Chicago, probably a lot like this year's.
"Post-recession, we don't expect manufacturers to reinvent the wheel," explained Lynn Dornblaser, Mintel's leading new products expert, citing a downturn in
"On retail store shelves," she continued, "we expect today's familiar megatrends - health and wellness, convenience, sustainability - to get a fresh, new makeover for 2010."
According to Mintel, seven core trends will impact global new product development as manufacturers try to pique consumer interest in new launches without pushing the envelope too far:
1. Cleaner, clearer front-of-package nutrition facts.
2. Reduced sodium.
3. Locally made products (but with an expanded definition of local).
4. Staples such as soap and juice made special with chic packaging and premium positioning.
5. Color-coded products designed to improve convenience.
6. Simple, easy-to-use Gen Y-focused cleaning products.
7. Low-cost, high-quality private labels.
"Private label 'brands' are starting to look a lot more like brands (sans quotes)," Mintel reported. "As consumers cut spending because of the recession, smart marketers ramped up promotions for their private label lines. Many shoppers now equate private labels with national brands and value them as such."
As a result, the group concluded, low-cost, high-quality private label products will thrive.