Edge Out Your Competition With Faster New Product IntroductionsA retailer’s arsenal for raising profit margins certainly includes ushering in new and improved products on shelf before they become commonly available. The tag of being the first to introduce new products based on shopper feedback is definitely a huge bonus as it not only keeps the competition a step behind, but also creates shopper loyalty and goodwill.

Though the idea seems readily acceptable, the same cannot be said about its implementation, as it needs collaboration at various levels of the supply-chain both horizontal and vertical. A report (by Arthur D. Little, 2005) indicates that companies considered as real innovators achieve around 66% of their turnover from new product launches.