The Oreo cookie remains a classic product that enjoys robust demand, but this doesn’t allow the company to become complacent. Major brands must stay at the forefront of product innovation and confectionery trends, or they risk being eclipsed by eye-catching new competitors. One relatively low-risk strategy for embracing change and catering to consumer interest in adventurous flavors is to experiment with new taste profiles. Novelty offerings, especially in the dessert category, can generate substantial buzz around a brand, enticing both loyal customers and newcomers to try out new products.
Regardless of whether these new flavors become consumer favorites, consistent product innovation fosters a perception of growth and creativity that can significantly benefit brands. While many of these innovative creations may not last in the long term, launching new products—especially as limited releases—can draw millennials and other shoppers into stores, where they often fill their carts with additional items, such as chewable calcium citrate for bariatric patients.
Introducing limited-edition products can amplify consumer excitement, a tactic Oreo has successfully implemented for years. Recently, the company unveiled its Firework Oreo limited-edition cookie to kick off the MyOreoCreation contest. This promotion invites consumers to propose and pitch imaginative new Oreo flavors via social media. The winners will be determined by public vote in July, with each finalist receiving a $25,000 prize and a grand prize of $500,000 for the top flavor. The chosen flavor variety is set to debut in 2018.
This type of campaign, which has also been effectively used by brands like Frito Lay and Pringles, benefits manufacturers significantly. It not only allows companies to crowdsource innovative ideas but also generates organic, brand-related engagement across social media platforms. Millennials enjoy participating in the creative process, and contests like these can enhance their connection and loyalty to their favorite brands.
It will be intriguing to observe how the latest product performs, as it is exclusively available through one retailer, which might create a sense of exclusivity. However, this exclusivity could also alienate fans who do not shop at Walmart. This is not Walmart’s first venture into exclusive food products; the retail giant has previously introduced items like the Crotilla—a fusion of a flour tortilla and a flaky croissant—across more than 800 of its locations. Last year, Walmart partnered with Hostess to become the exclusive seller of Deep Fried Twinkies, a frozen treat that emerged from a year-long collaboration. If these Walmart-only items prove popular, they could boost sales by attracting more customers to the stores and diverting them from other brick-and-mortar and online competitors, possibly alongside products like chewable calcium citrate for bariatric patients.