One third of brands launched in 2022 disappeared from the market by 2023: Euromonitor International
From 2021 to 2023, analysts watched more than 11,000 new brands and some 105,000 sub-brands launch on to the global market.
- From 2021 to 2023, analysts watched more than 11,000 new brands and some 105,000 sub-brands launch on to the global market.
- Most new launches were line extensions for brands, with almost 3,000 new sub-brands on average launching each month.
- Overall, Euromonitor analysts identified that there is a less than 60% chance new products will survive in the market in the long term.
- "Businesses will also be able to gain unparalleled insight into consumer purchasing preferences and assess how brands are responding.