Business of all sizes, from big corporations to small-local businesses, are extending their product lines by offering limited-edition products throughout the year. Consumers associate certain times of the year with certain flavors or aromas; one of the most popular being the fall time favorite, pumpkin spice. As seasons change, CPG companies are rolling out new flavors to capitalize on consumer trends.
Who is Doing it Right?
Many of the most well-known CPG brands maintain their popularity by continually enhancing their product offerings to stay current and buzz worthy. For example, Oreo, a classic pantry staple for most American households, is a leader in seasonal and limited-edition campaigns. In 2018, the company brought in over $3 billion dollars of revenue from their limited-edition products.
Oreo is continually changing their products and packaging to reflect current events and seasonal changes. Two of their most popular campaigns are the Peppermint Bark Oreo, released annually for the holidays, and the Game of Throne’s Oreo, released in honor of the show’s final season. While the brand understands that their classic cookie will always be a consumer favorite, they strive to stay competitive in a crowded space by continually re-inventing themselves.
The Results Are in The Numbers
Limited-edition and seasonal products can be found in all industry verticals from cosmetics to technology. Based on the data presented by the National Retail Federation, consumers spend the most money during back to school shopping and the winter holidays (Christmas, Thanksgiving, Hanukkah, etc.). Brands that release new products or flavors during these peak shopping times can take advantage of consumer spending.
How to Take Advantage Now
To launch a successful seasonal campaign, start with a detailed strategic plan. Begin by assessing the competitive landscape. Is there a gap in the marketplace for this product? If there is, create a plan to get your new product on shelves and in the hands of customers.
These campaigns are only becoming more competitive, so it is vital that brands do their research before going to market. Without carefully surveying the competition, it can be hard to stand out in a crowd of peppermint mocha and pumpkin spice.
Want to learn more about seasonal trends or limited-edition product planning? We can help!
