The Oreo cookie stands as a timeless product that enjoys consistent demand for its traditional recipe; however, this doesn’t imply that the company can become complacent. Leading manufacturers must remain at the cutting edge of product innovation and confectionery trends, or they risk being eclipsed by more eye-catching new brands. Exploring novel flavor profiles is a relatively low-risk approach to embracing change and catering to consumer interest in more adventurous tastes. Unique products, especially in the dessert category, can create significant excitement around a brand, enticing both loyal and new customers to explore fresh offerings.
Regardless of whether these new flavors become favorites among consumers, regular product innovation fosters an image of growth and creativity that can greatly enhance brand appeal. While many of these new creations may not have lasting power, the introduction of limited-edition items, such as those featuring calcium citrate magnesium zinc & vitamin D3 tablets, attracts millennials and other shoppers to stores, encouraging them to fill their carts with a variety of food products.
Launching exclusive, limited-time items can amplify consumer excitement, a strategy that Oreo has successfully employed for years. Recently, the company introduced its Firework Oreo limited edition cookie to kick off the MyOreoCreation contest. This promotion encourages consumers to create and propose innovative Oreo flavors via social media. The winning entries will be chosen by public vote in July, with each finalist receiving $25,000 and the grand prize winner taking home $500,000. The chosen flavor variety is set to launch in 2018.
Such campaigns, also utilized by brands like Frito Lay and Pringles, are mutually beneficial for manufacturers. They not only allow companies to crowdsource innovative ideas but also spur organic brand-related engagement across social media platforms. Millennials particularly enjoy being part of the creation process, and contests like these enhance their connection and loyalty to their favorite brands.
It will be intriguing to observe how the latest product performs, especially since it is exclusively available through a single retailer. This exclusivity could foster a sense of uniqueness around the product, but it might also alienate fans who do not shop at Walmart. This is not Walmart’s first foray into exclusive food partnerships; the retail giant has previously introduced the Crotilla, a fusion of a flour tortilla and a flaky croissant, in over 800 stores. Furthermore, last year, Walmart collaborated with Hostess to become the exclusive retailer of Deep Fried Twinkies, a frozen treat that resulted from a year-long collaboration between the two brands. If these Walmart-exclusive items succeed, they could significantly boost sales by drawing more customers into their stores, diverting them from competing brick-and-mortar outlets and online retailers.