innovation failure rates

There is a variety of different views on our product failure rates. According to some, the failure rate for new products launched for instance in the grocery sector is 70 to 80 per cent in the US. For smaller US food businesses launching new products, the success rate is even lower around 11 per cent.

These are really high failure rates but is this a myth or reality? How does your organization evaluate product failures? Do you really want to talk about them?