According to leading management consultancies, 75% of new products will fail in their first year. In our view, there are a number of reasons for this:
1. Demand-driven insights aren't captured.
2. Consumer needs take precedence over understanding purchase decisions.
3. Development processes are poor, lengthy and iterative; designed to yield marginal gain.
Ben Davies (Founder & CEO): "The research takes us back to 2015 but not much has changed in the industry between now and then. Our capacity and appetite to commission bold innovation over marginal reiteration is increasingly stifled by spiralling development costs within suppliers and retailers, with imprecise processes and inconsistent metrics applied to determine and achieve product success."
That's why we created VYPR: the UK's leading consumer concept testing, product development and validation platform; combining data and behavioural science, digital technology and FMCG expertise to accurately predict - and improve your chances of achieving - product success.
The VYPR score delivers an industry-standard benchmark for assessing innovation, NPD and EPD between retailers and suppliers, which can be integrated with other data sources to strengthen future performance predictions.
If you're experiencing these kinds of issues, we'd love to hear from you.
Road-test VYPR's technology & consumer panel.
We'd love you to road-test VYPR, give us your feedback and enjoy the benefits of better product intelligence. We'll connect you to 1000s of consumers and you'll get unlimited opportunities to test your latest innovations or iterations.
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If you love VYPR, we’ll get you an annual licence set up. If you don’t, we’ll leave you be. VYPR works best on low-consideration purchases such as FMCG, fast fashion, small consumer durables.
Contact us now to road-test VYPR.
To learn more about how VYPR can help you, simply dial +44 (0) 161 694 6320 or complete our contact form below.
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