What is Cannibalization?
In marketing strategy, cannibalization refers to a reduction in sales volume, sales revenue, or market share of one product due to the introduction of a new product by the same producer.
Market cannibalization is a loss in sales caused by a company's introduction of a new product displaces one of its own older products. The cannibalization of existing products leads to no increase in the company's market share despite sales growth for the new product.