A rise in the status of private label brands, ‘fitter’ products with fewer ingredients, and colour coding for convenience are set to be important product trends for 2010.
The 2010 Consumer Packaged Goods (CPG) predictions from trend experts Mintel reveal that next year’s new products will put a new twist on the familiar.
"Post-recession, we don't expect manufacturers to reinvent the wheel. Instead, we predict 2010's new products will give shoppers something familiar paired with something new to better satisfy their needs," David Jago, Director of Trends and Innovation at Mintel said in a statement.
Rise in private label status
According to Mintel, many consumers now equate private label ‘brands’ with national brands and value them as such. As the recession witnessed decreased spending, smart marketers increased promotion of their private label brands, and in 2010, low-cost, high quality private labels are set to thrive.
2009 has seen several launches of private label brands from UK retailers of cosmetics and personal care products. Supermarket chain Waitrose expanded its Essentials range to include basic beauty products, Superdrug introduced budget skin care and discount retailer Poundland launched a cosmetics range.
‘Fitter’ products with simple packaging and lighter formulations are also tipped to be a continuing trend for 2010, said Mintel.
Its product’s database showed that on average, the number of ingredients in hair care products manufactured in the US had declined by 9%, while the corresponding decline for US skincare products was 5%.
According to Mintel, the market has witnessed an increase in the number of ‘natural’ product claims, as well as further development of personal care products with more ‘easy to read’ ingredients.
In the UK, Space NK’s Picture Perfect moisturizer which was launched earlier this year is a prime example of this trend. The lightweight lotion contains sunscreen, conditioning and regenerating ingredients, and oat bran to absorb excess oil.
Colour-coding for convenience
Convenience in product choices is also a top trend for 2010. Although very few manufacturers use colour-coding or colour-blocking of product packaging, Mintel expects this to change in 2010.
As well as making it easier to locate products such as shampoo on crowded supermarket shelves, 64% of US consumers surveyed said that colour-coded products within a brand would help them make better choices.
Additionally, products that serve more than one purpose are making inroads into the market as consumers have to make do with less, says Mintel. Multipurpose products appeal to a broader range of consumers and occasions, and so could spell a financial opportunity for manufacturers.
Personal care brand, Melisana Sarl, recently launched Dermophil Duo, a moisturizing product that is positioned as both a hand cream and a lip balm, thus appealing to a wider audience.