From blue tea to avocado coffee: AI tool to help firms launch new products 'ahead of trend'

According to Kerry Vice President Marketing & Strategy APMEA Parth Patel, Trendspotter was developed in order to both launch F&B products ahead of trend as well as to reduce the lead time for innovation by up to seven months. "Imagine, if as a branded food and beverage player you are able to launch a new product ahead of its trend. Basically, you are creating a runway for yourself and most probably you are going to be the only player, hence chances of success are high," he told FoodNavigator-Asia . "We aim to reduce the lead time for innovation and the chances of failure of new product launches, while increasing the probability of success by focusing on those trends which are emerging and not yet mainstream." The need here comes from high rates of recorded failures – a recent Nielsen study found that 85% of new product launches fail within 18 to 24 months, driving high burdens in terms of cost, time, and effort for all major F&B companies.