Innovation Award Winners Revealed
October 15, 2008 - In the highly-competitive consumer goods market, the success of new products among consumers is the result of something much bigger than just a bright idea. Rather, it's the hard-earned result of lining all your ducks in a row - streamlining your innovation processes and supporting them with experienced, dedicated people and enabling technologies. This is why CGT presented Innovation Awards to deserving consumer goods companies for excellence in innovation at our third annual Consumer Goods Growth & Innovation Forum, Sept. 24-26, 2008, in Miami, Fla.
And the winners are...
MOST INNOVATIVE PRODUCT
Presented to the consumer goods company that developed the most innovative product launched in 2007/2008.
WINNER: Nintendo Wii Fit
The Wii Fit has truly changed the category of video games. Launched in May 2008, this new brand offering uses the Wii Balance Board to assist family members to achieve improved fitness through activities like yoga, aerobics, strength training and balance, while having fun at same time. Net sales in the electronic entertainment products division of Nintendo totaled $16,687 million in 2008, an increase of 73 percent from the previous fiscal year, and no doubt helped by the sale of 1.85 million Wii Fit units in Japan alone upon lunch. In addition Wii is the first video game system ever included in the President's Challenge, a part of the President's Council on Physical Fitness and Sports.
OUTSTANDING ACHIEVERS:
McCormick Grill Mates Grinders
Grill Mates Grinders (in Montreal Chicken and Montreal Steak flavors) were introduced in May 2008 as an extension to the Grinders line, which was launched in 2002. The products allow consumers to add fresh cracked flavor to grilled meats and veggies in either a fine or coarse ground blend. McCormick has since launched Cinnamon and Cinnamon and Sugar grinders.
Revlon Custom Creations
Introduced in the first half of 2008, Revlon Custom Creations offers five shade settings, making it easy to fine-tune the user's foundation shade for the perfect match. ACNielsen named this product to its list of top 10 new products (by retail dollar sales) in 2008.
MOST INNOVATIVE COMPANY
Presented to the consumer goods company that continually drives growth through new product and process innovation.
WINNER: Kraft Foods Inc.
This year, Kraft Foods Inc. announced 80 new products, spanning product platforms such as accessible snacks, quick meals, premium taste experiences, and health and wellness. The company also reinvigorated iconic brands such as Kraft Salad Dressings, Ritz Crackers and Oscar Mayer Meats by investing in "quality improvements and packaging innovations that deliver meaningful consumer benefits." Kraft recently refreshed its Open Innovation Web site, www.innovatewithkraft.com, to attract potential innovation partners to help the company create new product platforms and improve existing products and brands. The company is also using innovative ways to gain insight through its 2007 store launch in Second Life.
OUTSTANDING ACHIEVERS:
General Mills Corporation
In spring of 2007, General Mills formalized its open innovation initiative and officially launched the General Mills Worldwide Innovation Network (G-WIN). Since launch, it has received more than 200 technology and product proposals in one year, a 300 percent increase over the prior year. Open innovation product successes include Progresso Light, Go-GURT Fizzix and Progresso Light soups. Click here to read CGT's cover story on General Mills open innovation initiative.
TerraCycle Inc.
Terracycle was founded in 2001 in a Princeton University dorm room based on a simple yet unquestionably innovative idea: take waste, process it and turn it into a useful product. By 2004, Home Depot was carrying TerraCycle's "worm poop" fertilizers, which are now also sold at Target, Whole Foods, Walgreen's, among others. In 2008, TerraCycle launched four new environmentally-safe cleaners, all of which are made using the latest technology, turning naturally occurring essential oils into effective and safe cleaners. For more on this story, click here.
About the Selection Process
In August, nominations for our 2008 Innovation Awards were collected from consumer goods executives, industry analysts, industry consultants and technology providers via a web-based form. These nominations were then narrowed down by CGT's editorial staff based on multiple award criteria, including project challenges and objectives, the resourcefulness used to overcome and/or meet them, benefits and success realized and the project's overall relevance to the consumer goods industry, retail partners and, of course, the end consumer. A slimmer nomination list was then sent to the CGT's Editorial and Research Advisory Boards for voting.
And the winners are...
MOST INNOVATIVE PRODUCT
Presented to the consumer goods company that developed the most innovative product launched in 2007/2008.
WINNER: Nintendo Wii Fit
The Wii Fit has truly changed the category of video games. Launched in May 2008, this new brand offering uses the Wii Balance Board to assist family members to achieve improved fitness through activities like yoga, aerobics, strength training and balance, while having fun at same time. Net sales in the electronic entertainment products division of Nintendo totaled $16,687 million in 2008, an increase of 73 percent from the previous fiscal year, and no doubt helped by the sale of 1.85 million Wii Fit units in Japan alone upon lunch. In addition Wii is the first video game system ever included in the President's Challenge, a part of the President's Council on Physical Fitness and Sports.
OUTSTANDING ACHIEVERS:
McCormick Grill Mates Grinders
Grill Mates Grinders (in Montreal Chicken and Montreal Steak flavors) were introduced in May 2008 as an extension to the Grinders line, which was launched in 2002. The products allow consumers to add fresh cracked flavor to grilled meats and veggies in either a fine or coarse ground blend. McCormick has since launched Cinnamon and Cinnamon and Sugar grinders.
Revlon Custom Creations
Introduced in the first half of 2008, Revlon Custom Creations offers five shade settings, making it easy to fine-tune the user's foundation shade for the perfect match. ACNielsen named this product to its list of top 10 new products (by retail dollar sales) in 2008.
MOST INNOVATIVE COMPANY
Presented to the consumer goods company that continually drives growth through new product and process innovation.
WINNER: Kraft Foods Inc.
This year, Kraft Foods Inc. announced 80 new products, spanning product platforms such as accessible snacks, quick meals, premium taste experiences, and health and wellness. The company also reinvigorated iconic brands such as Kraft Salad Dressings, Ritz Crackers and Oscar Mayer Meats by investing in "quality improvements and packaging innovations that deliver meaningful consumer benefits." Kraft recently refreshed its Open Innovation Web site, www.innovatewithkraft.com, to attract potential innovation partners to help the company create new product platforms and improve existing products and brands. The company is also using innovative ways to gain insight through its 2007 store launch in Second Life.
OUTSTANDING ACHIEVERS:
General Mills Corporation
In spring of 2007, General Mills formalized its open innovation initiative and officially launched the General Mills Worldwide Innovation Network (G-WIN). Since launch, it has received more than 200 technology and product proposals in one year, a 300 percent increase over the prior year. Open innovation product successes include Progresso Light, Go-GURT Fizzix and Progresso Light soups. Click here to read CGT's cover story on General Mills open innovation initiative.
TerraCycle Inc.
Terracycle was founded in 2001 in a Princeton University dorm room based on a simple yet unquestionably innovative idea: take waste, process it and turn it into a useful product. By 2004, Home Depot was carrying TerraCycle's "worm poop" fertilizers, which are now also sold at Target, Whole Foods, Walgreen's, among others. In 2008, TerraCycle launched four new environmentally-safe cleaners, all of which are made using the latest technology, turning naturally occurring essential oils into effective and safe cleaners. For more on this story, click here.
About the Selection Process
In August, nominations for our 2008 Innovation Awards were collected from consumer goods executives, industry analysts, industry consultants and technology providers via a web-based form. These nominations were then narrowed down by CGT's editorial staff based on multiple award criteria, including project challenges and objectives, the resourcefulness used to overcome and/or meet them, benefits and success realized and the project's overall relevance to the consumer goods industry, retail partners and, of course, the end consumer. A slimmer nomination list was then sent to the CGT's Editorial and Research Advisory Boards for voting.