According to the latest findings by market research giant Euromonitor International, nearly one-third of brands introduced in 2022 were discontinued by the end of 2023. This revelation stems from their cutting-edge artificial intelligence (AI) powered Passport Innovation platform, shedding light on the dynamic and often transient life cycles of new brands across various markets.

The year 2023 alone saw the launch of over 4,000 new brands, complemented by more than 33,000 sub-brand introductions, as detected by Euromonitor’s Passport Innovation. This robust influx spanned across 32 global markets and 50 categories, monitored meticulously through online retailers.

From 2021 to 2023, the platform observed the birth and growth of over 11,000 new brands and an astounding 105,000 sub-brands, indicating a prolific period of brand expansion largely driven by line extensions.

However, not all that glitters is gold. Despite the surge in new entrants, Euromonitor analysts pinpointed a rather sobering statistic: less than…