The number of fast moving consumer goods (FMCGs) increased by 69 per cent last year but few are winning over new customers, The Daily Telegraph reports.
It's claimed overall sales of FMCGs rose by just 4.7 per cent last year, an indication that only a small number of new products were successful.
Experts say this lack of sales success is due to a dearth of meaningful product innovation as well as a lack of emphasis being placed on changing consumer behaviour.
Rather than undertaking 'brand housekeeping' (for example new packaging or favours), experts say brands must gain an insight into consumer needs and tailor products accordingly.
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